Varroc Engineering Limited — Others, 06-11-2024: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Varroc Engineering Limited has received an Order-In-Original related to the classification of goods supplied from July 2017 to September 2023, resulting in a tax adjustment of approximately ₹62.99 crores and a 100% GST penalty, plus an additional general penalty of ₹25,000. The company plans to challenge this order legally and does not anticipate any significant financial impact from the matter, which is a common industry issue.