Pidilite Industries (NSE: PIDILITIND) Receives GST Penalty Order of ₹64.45 Lakh; No Material Financial Impact

Mumbai, February 28, 2025 – Pidilite Industries Limited (NSE: PIDILITIND | BSE: 500331) today informed stock exchanges that the company has received an order dated February 27, 2025, from the Assistant Commissioner of State Tax, Unit-73, Vapi, Gujarat. The order imposes a penalty of ₹64,44,970 under provisions of the Central Goods and Services Tax Act for the financial year 2020-2021.

Key Regulatory Update​

According to the company, the order is appealable, and it is currently under review. Pidilite is evaluating further actions, including the possibility of appealing to higher authorities as permitted by law.

Impact Analysis​

Pidilite Industries clarified that this order will have no material impact on its financial position, operational performance, or ongoing business activities.

Management Commentary​

In its official statement, the company stated, "The Order is appealable, and the Company is reviewing the Order and evaluating the next steps in the matter. There is no material impact on financials, operations or other activities of the Company."
This disclosure is in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency in regulatory and financial matters.