Pidilite Industries has received an Order-in-Appeal confirming a penalty of ₹39,98,741 for FY 2018-19 under the Central Goods and Services Tax Act. The order, dated June 30, 2026, was issued by the Deputy Commissioner of State Tax, Appeal, in Mumbai. The penalty was initially imposed via an Order-in-Original dated April 16, 2024.

The company is currently reviewing the order and evaluating the next steps, including the possibility of exercising its right to appeal to the highest authority permitted by law. Pidilite Industries stated that there is no material impact on its financials, operations, or other activities as a result of this order.

Details of the Order

The disclosure regarding the penalty was submitted to the stock exchanges on July 2, 2026. The following table summarizes the key details of the regulatory order:

The company confirmed that the intimation is being filed at the earliest opportunity after examining the order and ascertaining the full facts. This information is also available on the company's website.

Pidilite Industries Ltd’s wholly owned subsidiary, Pidilite Ventures Pvt. Ltd., has completed the transfer of its entire shareholding in Buildnext Construction Solutions Private Limited to JSW One Platforms Limited. The transaction was executed pursuant to a Share Swap Agreement entered into between the parties, resulting in Pidilite Ventures receiving equity shares of JSW One in exchange. Following the completion of this transfer, Buildnext has ceased to be an associate company of Pidilite Ventures.

The share swap was conducted at a mutually agreed valuation, though specific financial details regarding the valuation and the number of shares exchanged have not been disclosed for confidentiality reasons. The completion of this strategic move marks the exit of Pidilite Ventures from Buildnext Construction Solutions Private Limited.

Transaction Details

The exchange filing submitted on July 1, 2026, confirmed the finalization of the agreement initially intimated to the exchanges on April 29, 2026. The regulatory disclosure was made under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.