Coromandel International faces ₹2.51 crore GST demand over ITC, appeal planned

The demand rests on alleged wrongful availment and utilisation of input tax credit. The filing describes the tax amount only; the equivalent penalty and applicable interest are added to it under the order but are not quantified in the filing.

The company's response

Coromandel International says it believes it has a strong case to defend on the merits and is preferring an appeal before the Commissioner (Appeals). It also says the order has no significant impact on its financials, operations or other activities.

Against the company's market value of ₹50,681 crore at the 23 Oct 2026 close, the tax amount is a small fraction of the company's valuation. The company's latest reported quarter, Q1 FY27, showed a consolidated net profit of ₹381.56 crore.

What the order means for Coromandel International's shareholders

The company says the order has no significant impact on its financials or operations. The order sets out a tax demand, with penalty and interest on top, against which the company is appealing; the filing does not say how the company will account for it.

Not known from the filing: the amount of the equivalent penalty, the interest payable, the date of the order, when the appeal will be filed, and whether any payment or provision has been made. The outcome of the appeal is not stated.

At a glance

Reference: Original filing (PDF)