PSP Projects Limited — Important, 23-04-2025: Updates

The company has received a penalty order from the GST Authority imposing a fine of ₹11.04 crore. The order was based on the allegation that the company claimed Input Tax Credit from materials supplied by a non-genuine taxpayer. Although the order is set to have no material impact on the company's finances or operations, the management is in the process of appealing the decision. This situation requires close attention, as it indicates potential risks related to regulatory compliance and operational practices. The company's commitment to addressing the issue reflects its proactive stance in maintaining regulatory adherence while navigating these challenges.