UltraTech Cement Limited — Others, 28-02-2025: Action(s) taken or orders passed

UltraTech Cement Limited has received an order from the Assistant Commissioner of State Tax in Jharsuguda, Odisha, regarding tax assessments. The ruling drops a tax liability of ₹1.53 crore, including penalties and interest, while confirming a demand for ₹0.07 crore in taxes, interest, and penalties due to an alleged incorrect claim of Input Tax Credit. The company is currently reviewing this order to determine its next steps. Importantly, there is no expected material financial impact on operations. Investors might view the situation as a neutral impact, given the company's assessment and lack of significant financial ramifications.