Everest Kanto Cylinder Limited — Important, 01-03-2025: General Updates

The Company has received an order from the Deputy Commissioner in Lucknow regarding a mismatch in input tax credit for the financial year 2020-21. A demand totaling ₹40.14 lakh, alongside interest of ₹32.51 lakh and a penalty of ₹4.01 lakh, has been raised under the Uttar Pradesh Goods and Services Tax Act. The Company is currently preparing to appeal this order, seeking to address the discrepancies noted. Despite the financial implications of the order, management anticipates no material impact on the Company's overall financial performance or operations. Investors may want to monitor this situation closely, as the outcome of the appeal could influence financial stability depending on the resolution.