Hexagon Nutrition Limited received a customs duty demand and penalty aggregating to ₹1.04 crore from the Commissioner of Customs, Chennai III. The order, dated August 27, 2026, was issued against Hexagon Nutrition Exports Private Limited (HNEPL), a previously wholly owned subsidiary amalgamated with the parent company in January 2026.

The customs authority alleged misclassification of Combined Nomenclation (CTH) codes for products sold to Domestic Tariff Area (DTA) units. This classification error reportedly led to discrepancies in Basic Customs Duty and Social Welfare Surcharge payments.

Breakdown of Demand

The total financial impact outlined in the order includes specific components for duty, fines, and penalties. The company states that the immediate financial impact is limited to these amounts plus applicable interest.

The order was received on Saturday, August 29, 2026. Hexagon Nutrition initiated an internal review and sought legal counsel advice before making the disclosure on September 1, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Legal Response

The company strongly disagrees with the findings of the order. Management believes it has a strong case on merits and is preparing to file an appeal before the relevant appellate authority within statutory timelines. Hexagon Nutrition expects a favorable outcome at the appellate level and asserts there is no material impact on its operational activities.

What the Numbers Show

The customs duty component constitutes approximately 78% of the total ₹1.04 crore demand, indicating that the core dispute revolves around tariff classification rather than punitive measures alone. The relatively smaller fine and penalty portions suggest the authority viewed the misclassification as a procedural contravention rather than willful evasion, though the final determination rests with the appellate authority.

Vikram Kelkar, Managing Director and promoter of Hexagon Nutrition , has increased his stake in the company by acquiring 16,300 equity shares. The transaction took place in the open market on August 17, 2026, resulting in a marginal rise in his overall holding percentage.

The acquisition brings Kelkar’s total shareholding to 2,59,61,344 shares, representing 21.12% of the company’s total voting capital. Prior to this transaction, he held 2,59,45,044 shares, which accounted for 21.11% of the voting capital. The company’s total equity share capital remained unchanged at 12,29,18,109 shares following the trade.

Transaction Details

The disclosure was submitted to the National Stock Exchange of India Limited and BSE Limited under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The filing confirms that Kelkar belongs to the promoter group and that the shares were acquired via open market purchases rather than off-market transfers or preferential allotments.

There were no encumbrances, pledges, or liens reported on the acquired shares. Additionally, there were no changes in voting rights other than those carried by the equity shares, nor were any warrants or convertible securities involved in the transaction.

What the Numbers Show

The acquisition represents a minimal change in ownership structure, with Kelkar’s stake increasing by just 0.01 percentage points. This type of small-scale open market purchase is often indicative of routine portfolio adjustment or long-term confidence maintenance by promoters, rather than a strategic shift in control. The absence of any encumbrance on the newly acquired shares suggests these holdings are free for potential future use, though no immediate plans for pledging were disclosed.