Asian Granito India Limited — Important, 04-02-2025: Disclosure of material issue

Asian Granito India Limited has received two penalty orders from the Joint Commissioner, CGST, in Gandhinagar. The first order involves a penalty of ₹2.04 crore due to alleged violations under the CGST Act, while the second order imposes a penalty of ₹3.91 crore for further alleged contraventions. The company plans to appeal both decisions, emphasizing that there is no expected impact on its operations as a result of these orders. The situation requires close monitoring, as the penalties could affect financial standing, pending the outcome of the appeals.