Mumbai, February 28, 2025 – Apcotex Industries Ltd (NSE: APCOTEXIND; BSE: 523694) today announced receipt of an order from the Deputy Commissioner of State Tax, Raigad Division, Navi Mumbai, imposing a GST-related penalty amounting to ₹1,76,974.
Regulatory Notice and Financial Implication
The Deputy Commissioner of State Tax issued an order alleging violations under the Maharashtra GST Act, IGST Act, and CGST Act for the fiscal year 2020-21. The key financial components of the order include:| Particulars | Amount (₹) |
|---|---|
| Tax Demand | 17,69,746 |
| Interest | 14,33,494 |
| Penalty | 1,76,974 |
Management Commentary
Despite the regulatory action, Apcotex Industries' management has assessed the situation and, guided by legal advice, expressed confidence in achieving a favorable outcome in subsequent adjudication proceedings. According to Drigesh Mittal, Head – Company Secretary & Legal at Apcotex Industries, the penalty order "is not expected to have any material financial impact on the company."Strategic Outlook
While the order is part of routine regulatory oversight, investors are advised to watch future developments closely, especially any further adjudication outcomes or appeals. As per current disclosures, the matter remains immaterial to Apcotex's financial performance and operations.The company remains compliant with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and assures continued transparency in forthcoming updates.