Company Update

Axel Polymers has received a show cause notice from SEBI initiating adjudication proceedings regarding alleged wrongful availment and passing on of input tax credit on GST without actual supply of goods during the financial years 2021-22 to 2024-25. The underlying tax matter proposes a recovery of 31.57 Crore along with interest and penalties, though the notice itself does not quantify any monetary penalty.

Management has clarified that this development has no impact on routine business operations, and future financial implications remain dependent on the final outcome of these proceedings.