ZUARI INDUSTRIES LIMITED has informed the Exchange regarding ''.Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Zuari Industries has informed the exchanges that the Excise Commissioner of Uttar Pradesh has reinstated import/export pass fees on denatured alcohol, following a Supreme Court order from October 23, 2024 that upheld the State's authority to levy such fees. This revokes a 2018 order that had earlier suspended the levy. The Company's Sugar Division at Lakhimpur Kheri received a notice on July 18, 2025, directing it to pay these fees retrospectively from FY 2018-19 onwards and prospectively as and when due. The retrospective financial impact is estimated at approximately Rs. 4.90 Crore, which the Company says is currently being evaluated and is not material. Prospective impact cannot be estimated at this stage, and the Company is exploring legal recourse through appropriate forums.
The immediate financial hit is modest at around Rs. 4.90 Crore, but the reinstatement of these fees means a new recurring cost for the Sugar Division going forward, which could pressure margins if it continues. Investors should watch for updates on the Company's legal challenge, as a favourable outcome could reverse the obligation.