Afcons Infrastructure Limited — Important, 26-03-2025: General Updates

Afcons Infrastructure Limited has announced a board meeting regarding a GST demand order received from the Uttar Pradesh GST Authority. This demand, totaling ₹1.26 crore, covers tax and penalties for the financial years 2020-21, 2021-22, and 2022-23. The company believes the order is unsustainable and plans to explore legal remedies, including filing an appeal. Management asserts that they do not expect this issue to materially affect the company's financials or operations. Investors may view this as a neutral impact, given the company's confidence in addressing the situation effectively.