Symphony Limited has informed the Exchange regarding 'Disclosure under Regulation 30'.
SYMPHONY · price
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Awaiting price reaction for this filing.
Symphony Limited informed the exchange that the GST Appellate Authority in Raipur, Chhattisgarh has issued an order on June 21, 2025, related to the financial year 2017-18. Originally, the GST department had raised a demand of Rs. 51,00,239 (including penalty) against the company, as disclosed in March 2024. Upon appeal, the Appellate Authority has reduced this demand to Rs. 45,72,014. The company is currently examining the order and may file a further appeal. The company has stated that apart from this amount, there is no material impact on its financial position, operations, or other activities.
The reduction in the GST demand is a mild positive, but the company may still appeal further. Given the relatively small quantum (Rs. 45.7 lakh) for a company of Symphony's size, the financial impact on shareholders is negligible and unlikely to move the stock price.