Johnson Controls - Hitachi Air Conditioning India Limited — Important, 24-01-2025: General Updates

Johnson Controls-Hitachi Air Conditioning India Limited has disclosed an appeal to be filed with the Punjab VAT authorities regarding a penalty for a VAT adjustment disallowance related to WCT forms. The financial impact of this penalty amounts to ₹14.33 crore. The company is taking steps to address the issue through the appellate process. This situation may pose a risk to operational efficiency if not resolved swiftly, but the appeal could potentially mitigate the financial burden if successful. Investors should watch closely as developments unfold.