The Anup Engineering Limited received a favorable order from the Hon'ble Appellate Authority on October 3, 2026, setting aside a total GST demand of ₹3.32 crore raised by the Gujarat Goods and Service Tax Department.

The Appellate Authority allowed the company's appeal against the earlier order passed under Section 74(1) of the CGST Act, 2017. Consequently, the company stated that there is no impact on its financials from this development.

Background of the dispute

The dispute originated from an order dated February 20, 2025, where the GST Department raised demands for ineligible Input Tax Credit (ITC), Integrated GST (IGST) on ocean freight, and associated penalties. The company had filed an appeal with the Hon'ble Appellate Authority after being aggrieved by the initial ruling.

The breakdown of the original demand that has now been set aside is as follows:

Note: Interest on the above amounts was also part of the original demand.

Impact on financials

The company confirmed in its disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that the favorable order results in no financial impact. The receipt of the order was reported to the stock exchanges on October 4, 2026.

The Anup Engineering Limited declared a final dividend of ₹12.00 per equity share for the fiscal year ended March 31, 2026. The payout represents a 120% dividend on the face value of ₹10 per share.

The company transacted these resolutions at its 9th Annual General Meeting held on August 25, 2026. The meeting was conducted through Video Conferencing or Other Audio Video Means.

Voting Results

The company has disclosed the detailed voting results for the five resolutions considered during the AGM. All resolutions were passed with significant support from both promoter and public shareholders. The record date for the meeting was August 18, 2026, with a total of 100,908 shareholders on record.

Promoter and Promoter Group shareholders voted unanimously in favour of all resolutions. Public institutional shareholders also showed near-unanimous support, while non-institutional public shareholders provided strong backing across all agenda items.

Key Resolutions Passed

Shareholders approved several ordinary and special resolutions during the proceedings:

• Adoption of audited standalone and consolidated financial statements for FY26.
• Reappointment of Mr. Punit S. Lalbhai as a director liable to retire by rotation.
• Ratification of remuneration for M/s. Maulin Shah & Associates, Cost Accountants, for FY27.
• Payment of remuneration to non-executive directors for a period of five years.

Voting Details

The company provided remote e-voting facilities from August 22, 2026, at 9:00 am to August 24, 2026, at 5:00 pm. Shareholders present at the AGM who had not voted earlier were also provided e-voting facilities. The meeting commenced at 2:00 pm and concluded at 2:38 pm.