Aarti Pharmalabs has received a penalty order of ₹59.50 crore from the Gujarat Stamp Authority regarding unpaid stamp duty on its demerger scheme. The company intends to challenge the decision.

The Office of the Superintendent of Stamps, Gandhinagar, issued the order on August 29, 2026, under Chapter IV of the Gujarat Stamp Act, 1958. It pertains to the Scheme of Arrangement between Aarti Industries Limited and Aarti Pharmalabs Limited, which was sanctioned by the NCLT, Ahmedabad Bench, on September 21, 2022.

Penalty Breakdown

The total liability comprises stamp duty and penalties levied for alleged short payment or non-payment of duty. The components are detailed below:

The stamp duty was calculated under Article 20(D) of Schedule-I of the Gujarat Stamp Act. The first penalty component equals the deficient duty amount as per Rule 9 of the Mumbai Stamp (Market Value Determination) Rules, 1984. The additional penalty was imposed under the Gujarat Stamp Act, 1958.

Company Response

Aarti Pharmalabs disclosed the receipt of the order on September 1, 2026, while awaiting the physical copy dispatched via registered post. The company stated it is evaluating the order and believes it has a strong case on merits.

Management indicated it will challenge the order, citing adequate factual and legal grounds to substantiate its position. The disclosure was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Aarti Pharmalabs Limited will hold its 7th Annual General Meeting on Tuesday, September 22, 2026. The meeting is scheduled for 11:00 am and will be conducted through video conferencing or other audio-visual means.

The company dispatched the AGM notice and annual report for FY26 via email on August 29, 2026. Shareholders holding shares as of the cut-off date of Tuesday, September 15, 2026, are eligible to vote.

E-Voting Details

Members can cast their votes electronically using the facility provided by National Securities Depository Limited. The remote e-voting period begins on Saturday, September 19, 2026, at 9:00 am and ends on Monday, September 21, 2026, at 5:00 pm.

Once a vote is cast, it cannot be changed. Members who vote remotely can still attend the meeting but cannot vote again. Those who do not vote remotely can cast their votes during the meeting.

Dividend Record Date

The record date for determining dividend entitlement for FY26 is Tuesday, September 15, 2026. The final dividend payment will be made on or before Tuesday, October 20, 2026, subject to shareholder approval at the AGM.

What the Numbers Show

The company has aligned its dividend record date with the e-voting cut-off date of September 15, 2026. This synchronization ensures that shareholders eligible to participate in corporate governance decisions are also entitled to the final dividend payout for the fiscal year.