Pidilite Industries Limited has received an Order dated 01st March, 2024, which was received vide post at Jaipur office on 05th April, 2024, issued by the Joint Commissioner (A), CGST Jaipur rejecting the appeal filed against Order-in-Original dated 07 June 2022. The penalty confirmed in the order is INR 408,185 for the year 2017-2018 under applicable provisions of the Central Goods and Service Tax Act, 2017. GST department has disallowed the Input Tax Credit claimed by the Company.

Based on the Company's assessment, the Company reasonably expects a favorable outcome at the Tribunal level. There is no material impact on financials, operations or other activities of the Company.