UltraTech Cement Limited — Important, 18-02-2025: General Updates

The company has received an order from the State Tax Officer in Gujarat, which addresses a GST matter. While it dropped a previous GST demand of ₹47.31 lakh and associated penalties, it confirmed a demand for ₹9.07 lakh plus interest and penalties totaling approximately ₹37.63 lakh. This order is primarily linked to the disallowance of input tax credits for supplies from vendors allegedly failing to deposit taxes. The company is currently reviewing the order to determine the next steps. Importantly, the management has indicated that there is no material financial impact anticipated on its operations from this order. Investors should continue to monitor this situation for any developments that may influence future financial outlooks.