FDC Limited — Important, 19-02-2025: General Updates

FDC Limited has received a demand notice from the Principal Commissioner of Customs (Preventive) in West Bengal, imposing a penalty of ₹56.73 crore due to misclassification of an HSN code. The company is set to appeal this decision and reports that there is no material impact on its financials or operations as a result of the order. The appeal will be filed with the Customs, Central Excise, and Service Tax Tribunal. Despite the penalty and potential interest on unpaid taxes, the overall outlook remains stable, making it a situation to watch closely for investors.