Coromandel International Limited — Others, 02-04-2025: Action(s) taken or orders passed

Coromandel International Limited disclosed an order from the Commissioner of Customs (Appeals-II) involving a demand for differential duty of ₹21.99 Cr, along with a redemption fine of ₹10.00 Cr and a penalty of ₹5.00 Cr. The ruling challenges the company's classification of Zinc-EDTA under the Customs Tariff, questioning its previous classification. However, the Hyderabad CESTAT had earlier ruled in favor of the company on this issue, positioning it strongly for appeal. This current situation is not expected to have a significant financial impact, which may foster a positive outlook among investors given the potential for a favorable resolution.