JK Lakshmi Cement Limited has secured a major milestone by being declared the preferred bidder for the mining lease of Chhipta Limestone Block in Madhya Pradesh. The company announced this development through a regulatory filing, marking a significant step in its raw material acquisition strategy.

E-Auction Success

The Government of Madhya Pradesh conducted an e-auction process for the Chhipta Limestone Block mining lease, wherein JK Lakshmi Cement Limited participated and emerged as the successful bidder. The company has now been officially declared as the 'Preferred Bidder' for this limestone mining opportunity.

Strategic Significance

The acquisition of mining rights for the Chhipta Limestone Block represents an important development for JK Lakshmi Cement's operations. Limestone serves as a crucial raw material in cement manufacturing, and securing dedicated mining rights can provide the company with better control over its supply chain and raw material costs.

Regulatory Compliance

The company disclosed this information in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to both BSE Limited and National Stock Exchange of India Limited through their respective platforms.

Next Steps

As the preferred bidder, JK Lakshmi Cement Limited will now proceed with the formalities required to secure the final mining lease for the Chhipta Limestone Block. This development strengthens the company's position in raw material sourcing and supports its operational expansion in the cement manufacturing sector.

JK Lakshmi Cement Limited has disclosed receiving significant relief from GST authorities in a case involving alleged wrongful availment of Input Tax Credit (ITC). The company made this disclosure under Regulation 30 of the SEBI Listing Regulations on 01st April 2026.

GST Case Details and Timeline

The GST matter originated with a Show Cause Notice dated 18th September 2025, which alleged wrongful availment of Input Tax Credit amounting to ₹263.84 lakh. The notice covered the period from April 2019 to March 2023, spanning four financial years from FY 2019-20 to 2022-23.

Following the adjudication process, the Office of Additional Commissioner, Jodhpur, Jaipur, CBIC, Rajasthan issued an order dated 24th March 2026, which was received by the company on 31st March 2026.

Significant Demand Reduction

The adjudication resulted in substantial relief for the cement manufacturer:

The GST Department dropped the substantial portion of the demand aggregating to ₹252.32 lakh, representing over 95% of the original claim. However, a demand of ₹11.52 lakh along with an equivalent penalty has been upheld by the authorities.

Company's Response and Next Steps

JK Lakshmi Cement has indicated that it is in the process of filing an appeal against the disallowance of ₹11.52 lakh. The company has stated that there are no expected financial implications from this matter, suggesting confidence in its position regarding the remaining disputed amount.

The GST Department's action related to the disallowance of excess Input Tax Credit, though the company appears to have successfully defended the majority of its position during the adjudication process.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30(13) of the SEBI Listing Regulations, which requires listed companies to inform stock exchanges about communications from regulatory, statutory, enforcement, or judicial authorities. The company secretary, Amit Chaurasia, certified that the information provided was true, correct, and complete to the best of his knowledge and belief.