UCAL Limited has disclosed receiving a show cause notice from GST authorities regarding discrepancies in its tax filings for the financial years 2022-23 and 2023-24. The company made this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on 09.04.2026.

Show Cause Notice Details

The notice was issued by the Assistant Commissioner (ST), Ambattur Assessment Circle, Commercial Tax Department. The company received the communication on 09.04.2026, requiring it to furnish a reply along with proof of records, documentary evidence, and proof of payment regarding various discrepancies noticed in GST returns and statements.

Alleged Violations

The authorities have identified several areas of concern in UCAL Limited's GST compliance. The alleged discrepancies span multiple aspects of GST filing and payment obligations for the two financial years under review.

The specific violations alleged include:

• Short payment of tax on outward supplies
• Differences in turnover reporting
• Short payment of tax under Reverse Charge Mechanism (RCM)
• Issues related to Input Tax Credit (ITC) reversal
• Discrepancies in credit notes
• E-way bill reconciliation problems

Company's Response and Impact Assessment

UCAL Limited has assessed that there is no material impact on its financial, operational, or other activities due to the issuance of this show cause notice. The company maintains a confident stance regarding the allegations made by the tax authorities.

The company has been provided an opportunity to be heard and file objections against the allegations. UCAL Limited plans to file a detailed reply with facts, figures, and justifications to counter the show cause notice before the GST Authority within the prescribed timelines, supported by required evidence to substantiate its position.

Regulatory Compliance

This disclosure was made in compliance with SEBI regulations, demonstrating the company's commitment to transparency with stakeholders. The company has informed both the National Stock Exchange of India Limited and BSE Limited about the development as required under listing obligations.

UCAL Limited has submitted its quarterly compliance certificate to stock exchanges for the quarter ended March 31, 2026, fulfilling mandatory regulatory requirements under SEBI guidelines. The automotive components manufacturer filed the necessary documentation with both BSE and National Stock Exchange of India Limited on April 6, 2026.

Regulatory Compliance Filing

The certificate was submitted pursuant to Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. Company Secretary S. Narayan communicated with both exchanges, providing the required confirmation certificate for the quarter ended March 31, 2026.

Registrar Confirmation

Integrated Registry Management Services Private Limited, serving as the company's Registrar and Transfer Agent, issued the confirmation certificate on April 3, 2026. The registrar confirmed that securities received from Depository Participants for dematerialisation during the quarter were properly processed and confirmed to depositories and stock exchanges where securities are listed.

The registrar also verified that:

• Security certificates received for dematerialisation were mutilated and cancelled after due verification
• Depository names were substituted in the register of members as registered owners
• All processes were completed within the mandated 15-day timeframe

Corporate Information

UCAL Limited, formerly known as UCAL Fuel Systems Limited, operates from its registered office at Ambattur Industrial Estate in Chennai. The company maintains its listing on both major Indian stock exchanges and continues to meet all regulatory compliance requirements through its appointed registrar and transfer agent.

The quarterly certificate filing represents standard corporate governance practice, ensuring transparency in securities handling and maintaining investor confidence through proper regulatory adherence.