Unichem Laboratories Ltd announced on Friday, January 24, 2025, that it has received an assessment order from the Joint Commissioner of CGST & CX, Thane Commissionerate, dated January 14, 2025. The order includes a demand for ₹6.59 crore as interest and ₹87.07 crore as a penalty, totalling ₹93.66 crore.

Alleged Contraventions Under CGST Act

The demand pertains to alleged violations under Section 13 of the CGST Act, 2017, and Rule 47 of the CGST Rules, 2017, related to the delayed payment of tax liabilities. The penalty has been imposed under Sections 74(1) and 122(2)(b) of the CGST Act, 2017, as well as corresponding sections of the Maharashtra SGST Act, 2017.

Company’s Stance

In a regulatory filing, Unichem Laboratories stated that the interest and penalty demands are not maintainable in law, asserting that the tax liabilities were paid on time. The company emphasized that the demand will have no material financial, operational, or other impacts.

Legal Measures and Appeal

Based on legal advice, the company plans to challenge the assessment order and file an appeal within the prescribed timelines. “The company shall take appropriate steps, including filing an appeal, as it believes the demand is not legally maintainable,” it said.

Stock Performance

On January 27, 2025, Unichem Laboratories share price traded 4.04% lower at ₹701.65 at 10:21 AM (IST). Unichem Laboratories’ share price reached a 52-week high of ₹949.85 on November 12, 2024, and a 52-week low of ₹433.25 on April 15, 2024. As per BSE, the total traded volume for the stock stood at 886 shares with a turnover of ₹6.22 lakhs.

At the current price, Unichem Laboratories shares are trading at a price-to-earnings (P/E) ratio of 257.01x, based on its trailing 12-month earnings per share (EPS) of ₹2.73, and a price-to-book (P/B) ratio of 2.09, according to exchange data.

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