Excel Industries Limited — Others, 06-02-2025: Action(s) initiated or orders passed

Excel Industries Limited has received a penalty order of ₹19.37 crore from the Central Goods and Service Tax office. This action is related to the disallowance of input tax credit for transactions from FY 2017-18 to FY 2018-19. While the company is currently evaluating legal options and considering an appeal, it noted that this penalty is not expected to have a material financial impact on its operations. Investors might view this as a neutral development, with the potential for operational adjustments depending on the outcome of the legal proceedings.