The India Cements Limited — Important, 08-01-2025: General Updates

The Company has received an Order from the Joint Commissioner, GST & Central Excise, demanding GST of Rs. 3.53 crore along with a penalty of Rs. 3.53 crore under the CGST Act for the period from July 2017 to March 2021. This GST pertains to contributions made to the District Mineral Foundation and National Mineral Exploration Trust related to mining activities in Tamil Nadu. The order also acknowledges Rs. 0.70 crore previously paid by the Company. Management is currently reviewing the order and plans to contest it legally, expressing optimism about achieving a favorable outcome. They do not anticipate any material financial impact from this order, thus maintaining a positive outlook for the Company's financial stability.