Dalmia Bharat Sugar and Industries Limited — Important, 18-02-2025: Disclosure of material issue

Dalmia Bharat Sugar and Industries Limited has received an order from the Joint Commissioner of Central GST in Kolhapur pertaining to a demand of ₹9.19 crore (cr) related to short reversed Input Tax Credit under IGST, CGST, and SGST for the financial years 2017-18 to 2021-22. The order includes interest and an equal penalty amount. Despite this demand, the company believes it has a strong case to contest the order and will pursue legal remedies, including an appeal to the Commissioner (Appeals) CGST. Investors should monitor this situation, as the potential financial implications are primarily tied to the demand amount, but the company is taking proactive steps to manage the challenge.