Integrated Filing-Governance



General information about company

Scrip Code 543397
NSE Symbol SAPPHIRE
MSEI Symbol NOTLISTED
ISIN INE806T01020
Name of the entity SAPPHIRE FOODS INDIA LIMITED
Date of start of financial year 01-Apr-2025
Date of end of financial year 31-Mar-2026
Reporting Quarter Yearly
Date of Quarter Ending 31-Mar-2026
Type of company Equity
Whether Annexure I (Part A) of the SEBI Circular dated December 31, 2024 related to Compliance Report on Corporate Governance is applicable to the entity? Yes
Whether Annexure I (Part B) of the SEBI Circular dated December 31, 2024 related to Investor Grievance Redressal Report is Applicable to the entity? Yes
Whether Annexure I (Part C) of the SEBI Circular dated December 31, 2024 related to Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies is Applicable to the entity? No
Reason For Part C Of Annexure I Disclosure Of Acquisition Of Shares OrVotingRightsInUnlistedCompaniesIsNotApplicableToTheEntity During the quarter, the Company has not acquired any shares or voting rights in unlisted companies.
Whether Annexure I (Part D) of the SEBI Circular dated December 31, 2024 related to Disclosure of Imposition of Fine or Penalty is Applicable to the entity? Yes
Whether Annexure I (Part E) of the SEBI Circular dated December 31, 2024 related to Disclosure of Updates to Ongoing Tax Litigations or Disputes is Applicable to the entity? Yes
Whether Annexure I (Part F) of the SEBI Circular dated December 31, 2024 related to Disclosure Of Loans / Guarantees / Comfort Letters / Securities Etc. is Applicable to the entity? No
Reason For Part F Of Annexure I Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Not Applicable To The Entity Not Applicable
Risk management committee Yes
Market Capitalisation as per immediate previous Financial Year Top 1000 listed entities
Is SCORE ID Available ? Yes
SCORE Registration ID COMS01902
Reason For No SCORE ID
Type of Submission New
Remarks (website dissemination)



Annexure I
Annexure I to be submitted by listed entity on quarterly basis
I. Composition of Board of Directors
Disclosure of notes on composition of board of directors explanatory
Whether the listed entity has a Regular Chairperson Yes
Whether Chairperson is related to MD or CEO No Disqualification of Directors under section 164 of the Companies Act, 2013
Sr Title (Mr / Ms) Name of the Director PAN DIN Category 1 of directors Category 2 of directors Category 3 of directors Date of Birth Whether the director is disqualified? Start Date of disqualification End Date of disqualification Details of disqualification Current status Whether special resolution passed? [Refer Reg. 17(1A) of Listing Regulations] Date of passing special resolution Initial Date of appointment Date of Re-appointment Date of cessation Tenure of director (in months) No of Directorship in listed entities including this listed entity (Refer Regulation 17A of Listing Regulations) No of Independent Directorship in listed entities including this listed entity [with reference to proviso to regulation 17A(1) & 17A(2)] Number of memberships in Audit/ Stakeholder Committee(s) including this listed entity (Refer Regulation 26(1) of Listing Regulations) No of post of Chairperson in Audit/ Stakeholder Committee held in listed entities including this listed entity (Refer Regulation 26(1) of Listing Regulations) Reason for Cessation Notes for not providing PAN Notes for not providing DIN
1 Mr. Sunil Rewachand Chandiramani 00524035 Non-Executive - Independent Director Chairperson 24-Dec-1968 No Active No 05-Aug-2021 05-Aug-2021 55.27 4 4 7 3
2 Mr. Sanjay Purohit 00117676 Executive Director Not Applicable CEO 14-May-1965 No Active NA 31-Aug-2016 1 0 0 0
3 Mr. Sumeet Narang 01874599 Non-Executive - Nominee Director Not Applicable 11-Jan-1976 No Active No 22-Jul-2021 3 2 3 1
4 Mr. Vijay Lalchand Jain 11129200 Executive - Nominee Director Not Applicable 15-Apr-1981 No Active NA 28-May-2025 1 0 1 0
5 Mr. Kabir Kishin Thakur 08422362 Non-Executive - Nominee Director Not Applicable 01-Sep-1980 No Active No 05-Aug-2021 2 0 6 2
6 Mr. Vinod Nambiar 07290613 Non-Executive - Nominee Director Not Applicable 17-Apr-1966 No Active No 10-Jan-2022 1 0 0 0
7 Ms. Anu Ram Aggarwal 07301689 Non-Executive - Independent Director Not Applicable 31-Mar-1972 No Active No 05-Aug-2021 05-Aug-2021 55.27 1 1 2 0
8 Ms. Deepa Gopalan Wadhwa 07862942 Non-Executive - Independent Director Not Applicable 28-Nov-1955 No Active No 05-Aug-2021 05-Aug-2021 55.27 7 7 7 1
9 Mr. Kushal Agarwal 11528795 Non-Executive - Nominee Director Not Applicable 17-Aug-1987 No Active No 06-Feb-2026 1 0 1 0



Annexure 1

II. Composition of Committees
Disclosure of notes on composition of committees explanatory .The Board of Directors of Company at its meeting held on 09/02/2023, has renamed 'Corporate Social Responsibility Committee' (CSR Committee) of the Board of Directors as CSR & ESG Committee



Audit Committee Details
Whether the Audit Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 00524035 Sunil Rewachand Chandiramani Non-Executive - Independent Director Chairperson 05-Aug-2021
2 07301689 Anu Ram Aggarwal Non-Executive - Independent Director Member 05-Aug-2021
3 07862942 Deepa Gopalan Wadhwa Non-Executive - Independent Director Member 31-Oct-2022
4 08422362 Kabir Kishin Thakur Non-Executive - Nominee Director Member 28-May-2025



Nomination and remuneration committee
Whether the Nomination and remuneration committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 07301689 Anu Ram Aggarwal Non-Executive - Independent Director Chairperson 05-Aug-2021
2 01874599 Sumeet Narang Non-Executive - Nominee Director Member 05-Aug-2021
3 07862942 Deepa Gopalan Wadhwa Non-Executive - Independent Director Member 05-Aug-2021



Stakeholders Relationship Committee
Whether the Stakeholders Relationship Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 08422362 Kabir Kishin Thakur Non-Executive - Nominee Director Chairperson 05-Aug-2021
2 00524035 Sunil Rewachand Chandiramani Non-Executive - Independent Director Member 05-Aug-2021
3 11129200 Vijay Lalchand Jain Executive - Nominee Director Member 28-May-2025
4 11528795 Kushal Agarwal Non-Executive - Nominee Director Member 06-Feb-2026



Risk Management Committee
Whether the Risk Management Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 07301689 Anu Ram Aggarwal ID Chairperson 10-Jan-2022
2 00117676 Sanjay Purohit ED Member 10-Jan-2022
3 07290613 Vinod Nambiar NED,ND Member 10-Jan-2022



Annexure 1
III. Meeting of Board of Directors
Disclosure of notes on meeting of board of directors explanatory
Sr Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Notes for not providing Date Whether requirement of Quorum met (Yes/No) Total Number of Directors as on date of the meeting Number of Directors present* (All directors including Independent Director) No. of Independent Directors attending the meeting*
1 17-Oct-2025 Yes 8 7 2
2 01-Jan-2026 75 Yes 8 7 3
3 06-Feb-2026 35 Yes 8 7 3



Annexure 1
IV. Meeting of Committees
Disclosure of notes on meeting of committees explanatory
Sr Name of Committee Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Name of other committee Reson for not providing date Whether requirement of Quorum met (Yes/No) Total Number of Directors in the Committee as on date of the meeting Number of Directors Present (All Directors including Independent Director) No. of Independent Directors attending the meeting* No. of members attending the meeting (other than Board of Directors)
1 Audit Committee 17-Oct-2025 Yes 4 3 2 0
2 Audit Committee 01-Jan-2026 75 Yes 4 4 3 0
3 Audit Committee 06-Feb-2026 35 Yes 4 4 3 0
4 Nomination and remuneration committee 01-Jan-2026 Yes 3 3 2 0
5 Nomination and remuneration committee 06-Feb-2026 35 Yes 3 3 2 0
6 Stakeholders Relationship Committee 17-Oct-2025 Yes 3 3 1 0
7 Stakeholders Relationship Committee 06-Feb-2026 111 Yes 3 3 1 0
8 Risk Management Committee 06-Feb-2026 Yes 3 2 1 0



Annexure 1
VI. Affirmations
Sr Subject Compliance status (Yes/No)
1 The composition of Board of Directors is in terms of SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
2 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015 a. Audit Committee Yes
3 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. b. Nomination & remuneration committee Yes
4 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. c. Stakeholders relationship committee Yes
5 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. d. Risk management committee (applicable to the top 1000 listed entities) Yes
6 The committee members have been made aware of their powers, role and responsibilities as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015. Yes
7 The meetings of the board of directors and the above committees have been conducted in the manner as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
8 This report and/or the report submitted in the previous quarter has been placed before Board of Directors. Yes
9 Any comments/observations/advice of Board of Directors may be mentioned here:



Annexure 1
Sr Subject Compliance status
1 Name of signatory Sachin Dudam
2 Designation Company Secretary and Compliance Officer



Details of Cyber security incidence
Whether as per Regulation 27(2)(ba) of SEBI (LODR) Regulations, 2015 there has been cyber security incidents or breaches or loss of data or documents during the quarter No
Other details of cyber security incidence or breaches or loss of data event
Number of cyber security incidence or breaches or loss of data event occurred during the quarter
Sr Date of the event Brief details of the event



Annexure II to be submitted by listed entity at the end of the financial year (for the whole of financial year)
I. Disclosure on website in terms of LODR Regulation
Sr Item Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here. Web address
1.1 Details of business Yes https://www.sapphirefoods.in/investors-relation/overview
1.2 Memorandum of Association and Articles of Association Yes https://www.sapphirefoods.in/storage/app/media/memorandum-of-association-articles-of-association.pdf
1.3 Brief profile of board of directors including directorship and full time positions in body corporates Yes https://www.sapphirefoods.in/storage/app/media/Details-of-Directorship-and-full-time-positions-held-by-Directors.pdf
2 Terms and conditions of appointment of independent directors Yes https://www.sapphirefoods.in/storage/app/media/Terms%20and%20Conditions%20for%20appointment%20of%20Independent%20Directors.pdf
3 Composition of various committees of board of directors Yes https://www.sapphirefoods.in/management-team-information/composition-of-committees
4 Code of conduct of board of directors and senior management personnel Yes https://www.sapphirefoods.in/storage/app/media/Code%20of%20Conduct%20for%20Board%20and%20SMP.pdf
5 Details of establishment of vigil mechanism or whistle blower policy Yes https://www.sapphirefoods.in/storage/app/media/Whistle%20Blower%20Policy.pdf
6 Criteria of making payments to non-executive directors Yes https://www.sapphirefoods.in/storage/app/media/nomination-remuneration-policy.pdf
7 Policy on dealing with related party transactions Yes https://www.sapphirefoods.in/storage/app/media/Policy%20on%20materiality%20of%20Related%20Party%20Transaction.pdf
8 Policy for determining material subsidiaries Yes https://www.sapphirefoods.in/storage/app/media/Policy%20for%20Determining%20Material%20Subsidiary.pdf
9 Details of familiarization programmes imparted to independent directors Yes https://www.sapphirefoods.in/storage/app/media/Details-of-Familiarization-Programme-for-Independent-Directors-apr-30.pdf
10 Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances Yes https://www.sapphirefoods.in/investors-relation/contact
11 Email address for grievance redressal and other relevant details Yes https://www.sapphirefoods.in/investors-relation/contact
12 Financial results Yes https://www.sapphirefoods.in/investors-relation/financials
13 Shareholding pattern Yes https://www.sapphirefoods.in/investors-relation/shareholding-pattern
14 Details of agreements entered into with the media companies and/or their associates NA
15.1 Schedule of analyst or institutional investor meet and presentation prepared by listed entity for analyst or institutional investor meet Yes https://www.sapphirefoods.in/investors-relation/updates
15.2 Audio or video recordings and transcripts of post earnings/quarterly calls Yes https://www.sapphirefoods.in/investors-relation/updates
16 New name and the old name of the listed entity NA
17 Advertisements as per regulation 47 (1) Yes https://www.sapphirefoods.in/investors-relation/updates
18 Credit rating or revision in credit rating obtained Yes https://www.sapphirefoods.in/storage/app/media/ICRA%20Credit%20Rating%20-%2012-01-2026.pdf
19 Separate audited financial statements of each subsidiary of the listed entity Yes https://www.sapphirefoods.in/investors-relation/annual-reports
20 Secretarial compliance report Yes https://www.sapphirefoods.in/investors-relation/updates
21 Materiality policy as per regulation 30 (4) Yes https://www.sapphirefoods.in/storage/app/media/Policy%20for%20determination%20of%20materiality%20on%20Disclosure%20of%20events%20or%20information.pdf
22 Disclosure of contact details of KMP who are authorized for the purpose of determining materiality as required under regulation 30(5) Yes https://www.sapphirefoods.in/storage/app/media/Policy%20for%20determination%20of%20materiality%20on%20Disclosure%20of%20events%20or%20information.pdf
23 Disclosures under regulation 30(8) Yes https://www.sapphirefoods.in/investors-relation/updates
24 Statements of deviation(s) or variations(s) as specified in regulation 32 NA
25 Dividend distribution policy as specified in regulation 43A (1) Yes https://www.sapphirefoods.in/storage/app/media/Dividend%20Distribution%20Policy.pdf
26.1 Annual return as provided under section 92 of the Companies Act 2013 Yes https://www.sapphirefoods.in/storage/app/media/Sapphire%20Foods%20-%20Annual%20Return%20FY%202024-25.pdf
26.2 Employee benefit scheme documents framed in terms of SEBI (SBEB) regulations 2021
27 Confirmation that the above disclosures are in a separate section as specified in regulation 46(2) Yes https://www.sapphirefoods.in
28 Compliance with regulation 46(3) with respect to accuracy of disclosures on the website and timely updation Yes https://www.sapphirefoods.in
29 Disclosure of notes on website in terms of Listing Regulations explanatory


Annexure II
II. Annual Affirmations
Sr Particulars Regulation Number Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here.
1 Independent director(s) have been appointed in terms of specified criteria of independence and/or eligibility 16(1)(b) Yes
2 Board Composition 17(1), 17(1A) & 17(1C), 17(1D) & 17(1E) Yes
3 Meeting Of Board Of Directors 17(2) Yes
4 Quorum of board meeting 17(2A) Yes
5 Review of Compliance Reports 17(3) Yes
6 Plans for orderly succession for appointments 17(4) Yes
7 Code of Conduct 17(5) Yes
8 Fees/compensation 17(6) Yes
9 Minimum Information 17(7) Yes
10 Compliance Certificate 17(8) Yes
11 Risk Assessment & Management 17(9) Yes
12 Performance Evaluation of Independent Directors 17(10) Yes
13 Recommendation of Board 17(11) Yes
14 Maximum number of Directorships 17A Yes
15 Composition of Audit Committee 18(1) Yes
16 Meeting of Audit Committee 18(2) Yes
17 Role of Audit Committee and information to be reviewed by the audit committee 18(3) Yes
18 Composition of nomination & remuneration committee 19(1) & (2) Yes
19 Quorum of Nomination and Remuneration Committee meeting 19(2A) Yes
20 Meeting of Nomination and Remuneration Committee 19(3A) Yes
21 Role of Nomination and Remuneration Committee 19(4) Yes
22 Composition of Stakeholder Relationship Committee 20(1), 20(2) & 20(2A) Yes
23 Meeting of Stakeholders Relationship Committee 20(3A) Yes
24 Role of Stakeholders Relationship Committee 20(4) Yes
25 Composition and role of risk management committee 21(1),(2),(3),(4) Yes
26 Meeting of Risk Management Committee 21(3A) Yes
27 Quorum of Risk Management Committee meeting 21(3B) Yes
28 Gap between the meetings of the Risk Management Committee 21(3C) Yes
29 Vigil Mechanism 22 Yes
30 Policy for related party Transaction 23(1), (1A), (5), (6), & (8) Yes
31 Prior or Omnibus approval of Audit Committee for all related party transactions 23(2), (3) Yes
32 Approval for material related party transactions 23(4) NA
33 Disclosure of related party transactions on consolidated basis 23(9) Yes
34 Composition of Board of Directors of unlisted material Subsidiary 24(1) NA
35 Other Corporate Governance requirements with respect to subsidiary of listed entity 24(2),(3),(4),(5) & (6) Yes
36 Alternate Director to Independent Director 25(1) NA
37 Maximum Tenure 25(2) Yes
38 Appointment, Re-appointment or removal of an Independent Director through special resolution or the alternate mechanism 25(2A) NA
39 Meeting of independent directors 25(3) & (4) Yes
40 Familiarization of independent directors 25(7) Yes
41 Declaration from Independent Director 25(8) & (9) Yes
42 Directors and Officers insurance 25(10) Yes
43 Confirmation with respect to appointment of Independent Directors who resigned from the listed entity 25(11) NA
44 Memberships in Committees 26(1) Yes
45 Affirmation with compliance to code of conduct from members of Board of Directors and Senior management personnel 26(3) Yes
46 Policy with respect to Obligations of directors and senior management 26(2) & 26(5) Yes
47 Approval of the Board and shareholders for compensation or profit sharing in connection with dealings in the securities of the listed entity 26(6) NA
48 Vacancies in respect Key Managerial Personnel 26A(1) & 26A(2), 26A(3) NA
Any other information to be provided - Add Notes



Annexure II
III. Affirmations
Sr Particulars Compliance status (Yes/No/NA)
1 The Listed Entity has approved Material Subsidiary Policy and the Corporate Governance requirements with respect to subsidiary of Listed Entity have been complied Yes
Any other information to be provided



Annexure II
1 Name of signatory Sachin Dudam
2 Designation Company Secretary and Compliance Officer



Additional Half yearly Disclosure
Any Other Information for Disclosure of Loans / Guarantees / Comfort Letters / Securities Etc.
I. Disclosure of Loans/ guarantees/comfort letters /securities etc.refer note below
(A)Any loan or any other form of debt advanced by the listed entity directly or indirectly to
Entity Aggregate amount advanced during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(B) Any guarantee / comfort letter (by whatever name called) provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed By
Entity Type (guarantee, comfort letter etc.) Aggregate amount of issuance during six months Balance outstanding at the end of six months(taking into account any invocation)
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(C) Any security provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed by
Entity Type of security (cash, shares etc.) Aggregate value of security provided during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(D) Additional Information
II. Affirmations
Affirmations Compliance Status Company Remarks
All loans (or other form of debt), guarantees, comfort letters (by whatever name called) or securities in connection with any loan(s) (or other form of debt) given directly or indirectly by the listed entity to promoter(s), promoter group, director(s) (including their relatives), key managerial personnel (including their relatives) or any entity controlled by them are in the economic interest of the company. $intratedCg.get("CG_YN_$!integratedFillingMasterDto.cgMasterVO.anx4aAffirmComplStatus")
Name
Designation
Place
Date



Signatory Details
Name of signatory Sachin Dudam
Designation of person Company Secretary and Compliance Officer
Place Mumbai
Date 23-Apr-2026


Investor Grievance Details
No. of investor complaints pending at the beginning of Quarter 0
No. of investor complaints received during the Quarter 0
No. of investor complaints disposed off during the Quarter 0
No. of investor complaints those remaining unresolved at the end of the Quarter 0


Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies-
The details of acquisition of shares or voting rights in unlisted companies during the quarter in terms of sub-para 1 of para A of Part A of Schedule III are given below
Any Other Information for Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies
Sr. No. Name of the unlisted company in which shares or voting rights have been acquired Date of acquisition Aggregate holding (% shares or voting rights) as at the end of the previous quarter % shares or voting rights acquired during the quarter Aggregate holding (% shares or voting rights) as at the end of the quarter


Disclosure of Imposition of Fine or Penalty
The details of imposition of fine or penalty during the quarter in terms of sub-para 20 of para A of Part A of Schedule III are given below:
Any Other Information for Disclosure of Imposition of Fine or Penalty
Sr. No. Name of the authority Nature and details of the action(s) taken or order(s) passed Date of receipt of direction or order, including any ad interim or interim orders, or any other communication from the authority Details of the violation(s)/ contravention(s) committed or alleged to be committed Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible
1 Labour Department / Judicial Magistrate First Class, Bengaluru) Senior Labour Inspector of 4th Circle,Bangalore filed a complaint under applicable Labour laws. Prosecution was initiated against the Company by Judicial Magistrate First Class, Bengaluru. The case was closed by paying fine of Rs 1,29,000/- 26-Feb-2026 Labour Department had filed complaint alleging non adherance to certain Sections under applicable Labour Laws. No material impact on financial or operations or other activities of the Company


Disclosure of Updates to Ongoing Tax Litigations or Disputes
The updates on tax litigations or disputes in terms of sub-para 8 of para B of Part A of Schedule III read with corresponding provisions of Annexure 18 of the Master Circular are given below:

Any Other Information for Disclosure of Updates to Ongoing Tax Litigations or Disputes
Sr. No. Name of the opposing party Date of initiation of the litigation / dispute Status of the litigation / dispute as per last disclosure Current status of the litigation / dispute
1 1. Union of India 2. State of Gujarat 3. National Anti- Profiteering Authority (now Competition Commission of India) 4. Directorate General of Anti-Profiteering 5. M/s. Local Circles India Private Limited 06-Jul-2020 The National Anti-Profiteering Authority and the Director General of Anti-Profiteering (DGAP) have alleged that the Company engaged in profiteering amounting to Rs. 279.12 million. Disputing the procedure adopted by the DGAP, the Company has challenged the matter through litigation, which is currently pending before the Hon'ble Gujarat High Court. No change in the status of litigation
2 Goods & Service Tax Department 31-Jan-2025 On 31st January 2025, the Company received demand orders across its GST registrations in 17 states, totaling Rs. 1,127.13 million, comprising tax and penalties (excluding interest), under the Central Goods and Services Tax Act, 2017; the Integrated Goods and Services Tax Act, 2017; and the applicable State GST Acts. The demand pertains to the period from July 2017 to March 2022. The authorities have raised issues involving output tax liability, reversal of input tax credit, and transitional credit, citing, among other grounds: (i) alleged taxable supplies in connection with incentives and promotional expenses incurred by the Company, and (ii) required reversal of input tax credit relating to the period prior to 14th November 2017.The Company has filed appeal against the impugned order with GST Appelant Department. No change in the status of litigation
3 Goods & Service Tax Department 30-Jun-2025 Authorities have disallowed ITC utilization of eligible input tax credit post 14th November 2017 total amounting to INR 101.57 million. Company has filed appeal against the impugned order. Received unfavorable order from Uttar Pradesh, Karnataka and Chattisgarh. The Company had filed an appeal before the Office of the Commissioner (Appeals), Raipur against the demand order received on 10th September 2025. (For details refer Stock Exchanges disclosure dated 11th September 2025.)The Joint Commissioner (Appeals), Raipur, vide Order dated 24th March 2026, has passed an order in favour of the Company. Accordingly, the demand of INR 1.01 mn stands dismissed. Company has filed a writ petition against the order received from Uttar Pradesh Appellate Authority. Further, rectified order is received from Karnataka Appellate authority. Company is evaluating the available remedies.
4 Sales Tax Officer, Class II/AVATO, Ward 205, Zone 11, Delhi, Department of Trade & Taxes 24-Jul-2025 Company had received Show Cause Notice highlighting differences been observed in the returns filed for FY 2021-22. The SCN amounts to INR 51 million (including interest of INR 19.53 million and penalty of INR 2.88 million) Company received demand order amounting to INR 22,818/- against the SCN. Company has complied with the order by making payment of demand amount.
5 Goods & Service Tax Department 31-Dec-2025 The Company had received demand order amounting to INR 203.25 million from the GST Department (Haryana) claiming that company had availed excess Input tax credit ('ITC') and had incorrectly utilized ITC against GST liability on outward supply. Compnay has filed a writ petition on 30th March 2026 against the order received.