Epigral Stock Drop Analyzed

Epigral’s stock price went down 1.60% to Rs 1,241.35. This happened after the company told investors they received a big warning from the tax authorities. The tax office says Epigral owes them Rs 52.52 crore (about $6.3 million). This order came from the Deputy Commissioner of Income Tax in Vadodara.

Key Points

• Stock fell 1.60% due to tax demand notice.
• Rs 52.52 crore tax demand issued by tax authorities.
• Order related to Assessment Year 2022-23 (Financial Year 2021-22).
• Epigral believes it has strong evidence to defend its case.
• No impact on company finances or daily operations.
• Company is appealing and filing a correction application.

What Happened?

The tax office says Epigral didn’t pay enough taxes. They used a special law to send the warning, and it included a demand for extra money (interest). Epigral says this is normal tax checking and they can prove they’re right.

Epigral Company Info

Epigral makes lots of important chemicals in India. They’re known for being one of the first to build a plant that makes epichlorohydrin, and they have the biggest plant for CPVC. They also make other chemicals like caustic soda and chlorine.

Recent Financial Results

Recently, Epigral’s profits decreased by 36% to Rs 51 crore, and their total sales went down by 7% to Rs 589 crore. These results were compared to the same time last year.

“Understanding these financial pressures allows us to proactively mitigate potential risks and secure the company’s long-term stability.”