Afcons Infrastructure Limited — Others, 01-02-2025: Action(s) taken or orders passed

Afcons Infrastructure Limited has announced a board meeting to discuss the receipt of a penalty order from the GST Authority, imposing a fine of ₹143.94 crore for alleged ineligible input tax credit from FY 2017-18 to FY 2018-19. The company plans to appeal the order, asserting that the penalty is unsustainable, as no substantial findings were provided. While the situation introduces potential legal challenges, Afcons does not foresee a material adverse impact on its financial health or operations. Investors may regard this as a neutral impact, balancing the risk of legal proceedings with the company’s resilient operational outlook.