Updates

WEL/SEC/2026 September 28, 2026 BSE Limited National Stock Exchange of India Limited Scrip Code: 532553 NSE Symbol: WELENT Dear Madam / Sir, Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations) We would like to inform you that the Company has received a Show Cause Notice from the State GST Authority in the State of Uttar Pradesh under Section 74 of the CGST Act, 2017 / the UPGST Act, 2017. The details as required under SEBI Listing Regulations read with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 is enclosed in “Annexure-1”. You are requested to take the same on your records. Yours faithfully, For Welspun Enterprises Limited Nidhi Tanna Company Secretary ACS-30465 Annexure-1 Sr. Particulars Details 1. Name of the authority The Joint Commissioner of State Tax, Uttar Pradesh (State GST Authority) 2. Period Covered in the Tax FY 2022-23 Litigation / Dispute 3. Nature and details of Tax Show Cause Notice (SCN) issued u/s 74 of the CGST litigation/ dispute Act, 2017/ the UPGST Act, 2017 proposing imposition of tax of ~Rs. 71.24 Crore along with applicable interest u/s 50 of CGST Act, 2017/ the UPGST Act, 2017 and penalty u/s 74 of the CGST Act, 2017/ the UPGST Act, 2017 on account of alleged short payment of tax / excess availment of ITC. 4. Date of receipt of Show Cause SCN is dated September 26, 2026, received on Notice/Order September 28, 2026. 5. Details of the violation/ The SCN primarily requires the Company to submit contravention committed or clarification on GST applicability on certain other alleged to be committed expenses / other income recorded in the financial statements and provide explanation on alleged availment of ITC on certain supplies in violation of Section 16 of the CGST Act, 2017/ the UPGST Act, 2017. 6. Impact on financial, operation or Based on the Company assessment, the aforesaid other activities of the listed entity, demand is not maintainable and the Company is taking quantifiable in monetary terms appropriate steps to file a detailed reply against the to the extent possible SCNs. The Company is of the view that the demand raised in the SCNs are without merits and are expected to be set aside during the adjudication proceedings. The Company does not foresee any material impact on financial or operational or other activities of the Company.