BSECompany Update28 Sept 2026 · 28 Sept 2026, 06:15 pm

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Eureka Forbes Ltd · 543482

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Eureka Forbes Ltd has received a Show Cause Notice (SCN) from the Deputy Commissioner, State Tax, Sector-1, Lucknow, Uttar Pradesh, under Section 73(1) of the Uttar Pradesh Goods and Services Tax Act, 2017, for the financial year 2022-23, alleging a tax liability of Rs. 149.21 Crore along with interest of Rs.109.27 Crore and penalty of Rs. 14.92 Crore aggregating to Rs. 273.40 Crore. The company intends to contest the SCN comprehensively within the prescribed timelines and does not foresee any material impact on its financials, operations, or other activities.

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Earnings Impact2/10
Growth Catalyst1/10
Governance Concern1/10
Regulatory Risk8/10
Balance Sheet Risk2/10
Liquidity Impact8/10
Market Sentiment4/10

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Eureka Forbes Ltd - 543482 - Intimation Under Regulation 30 Of SEBI Listing Regulations - Receipt Of Show Cause Notice

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September 28, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block - G, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 543482 Scrip ID: EUREKAFORB Symbol: EUREKAFORB Ref.: EFL/BSE/2026-27/40 Ref.: EFL/NSE/2026-27/40 Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) – Receipt of Show Cause Notice from GST Authority Dear Sir / Ma’am, Pursuant to Regulation 30 read with Para B of Part A of Schedule III of the SEBI Listing Regulations, this is to inform that the Company is in receipt of Show Cause Notice (“SCN”) dated September 25, 2026 issued under Section 73(1) of Uttar Pradesh Goods and Services Tax Act, 2017 from the office of Deputy Commissioner, State Tax, Sector-1, Lucknow, Uttar Pradesh for the financial year 2022-23. The Company is of the considered view that the SCN is devoid of merits, not sustainable on facts or in law or in procedure and intends to contest the same comprehensively within the prescribed timelines. The Company does not envisage any material impact on the financials, operations or other activities of the Company arising from this SCN. The information required in terms of Regulation 30 read with Clause 8 of Para B of Part A of Schedule III of the SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD- POD2/I/3762/2026 dated January 30, 2026 and Industry Standards on Regulation 30 of the SEBI Listing Regulations are enclosed as ‘Annexure-I’. The Notice was received after office hours on Friday, September 25, 2026, and following a review of the SCN and the Company’s compliance obligations, the disclosure is being made today, September 28, 2026, being the first working day following receipt. Kindly take the same on record. Thanking you, Yours Truly, For Eureka Forbes Limited Shilpa Jain Company Secretary & Compliance Officer Encl.: As above Annexure – 1 Particulars Details 1 Type of communication received Receipt of a Show Cause Notice ("SCN") in Form GST DRC-01 under Section 73(1) of Uttar Pradesh Goods and Services Tax Act, 2017 for the Financial Year 2022-23. 2 Date of receipt of communication September 25, 2026 3 Name of the Authority Deputy Commissioner, State Tax, Sector-1, Lucknow, Uttar Pradesh 4 Brief details of dispute / litigation viz. name(s) SCN alleging Tax liability of Rs. 149.21 of the opposing party, court/ tribunal/agency Crore along with interest of Rs.109.27 Crore where litigation is filed, brief details of and penalty of Rs. 14.92 Crore aggregating to dispute/litigation Rs. 273.40 Crore. The Company has noted that the proposed demand appears to have been computed, inter alia, with reference to pan India level financial information taken from the signed financials for FY 2022-23 without establishing the corresponding transaction level liability attributable to the Company's Uttar Pradesh GST registration. 5 Expected financial implications, if any, due to The Company is of the considered view that compensation, penalty etc. the SCN is devoid of merits, not sustainable on facts or in law or in procedure & intends to contest the same comprehensively within the prescribed timelines. The Company does not envisage any material impact on the financials, operations or other activities of the Company arising from this SCN. 6 Quantum of claims, if any As prescribed in Sr. No. 4 above