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UltraTech Cement Ltd. received an order from the joint commissioner, Central Goods and Services Tax and Central Excise, Patna, directing it to pay alleged tax dues ₹390 crore, along with a penalty of a similar amount and an interest of ₹28 lakh, according to an exchange filing on Saturday.
The penalty is on account of alleged short payment of Goods and Services Tax, improper utilisation of input tax credit, etc., during the period 2018-19 to 2022-23, India's largest cement manufacturer said in the filing.
The penalty and interest are nearly two-thirds of the ₹1,232 crore profit clocked in the latest second quarter ended September 2025. Revenue for the period increased 20.3% to ₹19,607 crore compared to a year earlier.
However, the company is considering all legal options, and accordingly would be contesting the demand, and does not expect the said Order to have any operational/financial impact, the statement added.
Earnings for the ongoing third quarter are scheduled to be reported on Jan 24, 2026.
Shares of UltraTech Cement are nearly unchanged this year so far.
Read more: A reliable stock market indicator from Bank of America just triggered a sell signal
The penalty is on account of alleged short payment of Goods and Services Tax, improper utilisation of input tax credit, etc., during the period 2018-19 to 2022-23, India's largest cement manufacturer said in the filing.
The penalty and interest are nearly two-thirds of the ₹1,232 crore profit clocked in the latest second quarter ended September 2025. Revenue for the period increased 20.3% to ₹19,607 crore compared to a year earlier.
However, the company is considering all legal options, and accordingly would be contesting the demand, and does not expect the said Order to have any operational/financial impact, the statement added.
Earnings for the ongoing third quarter are scheduled to be reported on Jan 24, 2026.
Shares of UltraTech Cement are nearly unchanged this year so far.
Read more: A reliable stock market indicator from Bank of America just triggered a sell signal
