APL Apollo Tubes Limited — Others, 21-02-2025: Action(s) taken or orders passed

APL Apollo Tubes Limited has received a GST demand order from the Deputy Commissioner of State Tax, Indore, totaling ₹29.57 cr, which includes tax, penalty, and interest for FY 2020-21, primarily due to alleged excess ITC utilization. While the company believes this demand lacks sustainability and is exploring options for appeal, it asserts there is no material impact on its financials or operations. This development may create a neutral impact on investor sentiment, though ongoing evaluation of remedy options could influence future outlook.