UCAL Limited gets GST show cause notice demanding Rs 87.62 Lakhs

Regulatory & Legal View source PDF Explain this filing

UCAL · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-3.4%Reaction day

₹144.00

prior close

₹144.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.6%-1.8% vs market

Auto Components & Equipments peers, median of 123sector-1.5%-2.0% vs sector

On the reaction day the stock moved 1.8 pts less than Nifty Microcap 250 and 2.0 pts less than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-3.2

10m

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15m

-3.2

30m

-3.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-3.4-1.6-1.8-1.5-2.0

Next day

-2.5-0.6-1.9-1.6-0.9

-1.9-0.8-1.1-1.4-0.5

-1.8-2.1+0.3-3.3+1.5

-4.9-2.1-2.7-3.9-1.0

-2.0-0.8-1.2-3.2+1.1

-3.5-3.8+0.3-6.1+2.6

15d

-12.4-6.9-5.5-8.2-4.2

-13.2-8.0-5.2-8.2-5.0

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UpDownMarket · Nifty Microcap 250Sector · Auto Components & Equipments peers, median of 123Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

UCAL Limited received a show cause notice from the Maharashtra State Tax Department on 25 Sep 2026 over discrepancies found during GST audit for FY 2022-23 related to excess ITC claims and reversal of excess ITC due to credit notes. Penalty of Rs 87.62 Lakhs including interest has been demanded. Company says no immediate financial or operational impact and plans to file a detailed reply contesting the notice.

Likely market impact

Penalty demand is small relative to company size with no immediate impact. Outcome of reply to GST authority will be key for shareholders.