Orient Cement Limited has received Order from the Joint Commissioner of State Tax, Adilabad, Telangana demanding payment of GST amounting to INR 129,598 and a penalty of INR 20,000 for the incorrect availment of Input Tax Credit. The Company after considering the magnitude of the demand and the associated legal expenses for an appeal, has decided not to pursue the appeal and to proceed with the payment. Date and Time of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: May 02, 2024.

The order has no major financial impact on the Company and is limited to the extent of INR 129,598 and a penalty of INR 20,000. Considering the magnitude of the demand and the associated legal expenses for an appeal, the Company has decided not to pursue the appeal and to proceed with the payment.