Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015
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Vishal Fabrics Ltd has informed BSE that it received an order dated December 29, 2025 from the Commissioner of Central GST & Central Excise, Ahmedabad - North, imposing a penalty of approximately Rs. 24.27 crore. The penalty has been levied under Section 74(9) of the CGST/Gujarat GST Act, 2017, relating to alleged excess or incorrect Input Tax Credit claimed by the company, along with interest and penalty recovery. The order was received by the company on December 30, 2025. The company has stated that, based on its assessment, prevailing law, and advice from legal counsel, it believes no material financial impact will arise, suggesting it intends to challenge the order.
Although the penalty amount of around Rs. 24.27 crore is sizeable, the management's stated view that there will be no material financial impact may limit the downside. However, the stock could see volatility until the company clarifies its appeal/remedial plans, and any adverse outcome in further proceedings could weigh on earnings and investor sentiment.