IOL Chemicals & Pharmaceuticals has informed the stock exchanges of an upcoming board meeting scheduled for Wednesday, May 20, 2026, pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting has been convened to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026.

Board Meeting Details

The notice, dated May 13, 2026, was communicated to both the National Stock Exchange of India Ltd. and BSE Limited. The key details of the scheduled board meeting are outlined below:

Trading Window Closure

In accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's Code of Conduct to Regulate, Monitor and Reporting of Trading by Designated Persons, the trading window has been running closed with effect from April 1, 2026. The trading window will continue to remain closed until the expiry of 48 hours from the date the audited financial results for the year ended March 31, 2026, are made public.

The communication was signed by Abhay Raj Singh, Sr. Vice President & Company Secretary of IOL Chemicals and Pharmaceuticals, and submitted to the exchanges for information and record.

IOL Chemicals and Pharmaceuticals Limited disclosed on 09 May 2026 that it has received an Order-In-Original (O-I-O) from the Additional Commissioner of Customs, Kandla, imposing a cumulative levy of Rs. 2,05,94,796/-. The order was received by the company on 08 May 2026 and was disclosed to the stock exchanges under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Nature of the Order and Allegations

The Order-In-Original alleges that IOL Chemicals and Pharmaceuticals incorrectly availed exemption benefits under the ASEAN-India Free Trade Agreement (FTA) by submitting Certificates of Origin that did not conform to the prescribed format under Notification No. 46/2011-Customs read with ASEAN-India FTA Rules of Origin. The authority has confirmed a demand of differential Customs duty along with associated penalties and fines as a result of this alleged non-compliance.

Breakdown of the Levy

The total aggregate levy of Rs. 2,05,94,796/- comprises multiple components as detailed below:

Company's Response and Financial Impact

IOL Chemicals and Pharmaceuticals has stated that it will be filing an appeal against this order with the appropriate authority. The company has also clarified that the aforesaid levy does not have any material impact on its financials, nor does it have any impact on its operational or other activities.

Disclosure Details

The requisite disclosure was made in accordance with Regulation 30 of the Listing Regulations, read with Clause 20 of Para A of Part A of Schedule III of the Listing Regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The disclosure was signed by Abhay Raj Singh, Sr. Vice President & Company Secretary of IOL Chemicals and Pharmaceuticals Limited.