UltraTech Cement Limited has informed stock exchanges about receiving a significant GST order from Maharashtra tax authorities. The company disclosed this development under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

GST Order Details

The Assistant Commissioner, State Goods and Services Tax, Maharashtra has passed an Order in Original against the cement manufacturer. The order was received by the company on 12th March, 2026.

Nature of Alleged Violation

The GST order pertains to alleged ineligible Input Tax Credit (ITC) availed on blocked credits relating to the financial year 2019-20. The tax authorities have confirmed the demand along with applicable interest and penalty components.

Company's Response and Impact Assessment

UltraTech Cement has indicated its intention to contest the demand through appropriate legal channels. The company has assessed that the order is not expected to have any material financial impact on its operations.

The disclosure was made through a formal communication to BSE Limited and The National Stock Exchange of India Limited, signed by Company Secretary and Compliance Officer Dhiraj Kapoor. The company has also informed its international listing venues including Luxembourg Stock Exchange and Singapore Exchange about this development.

Regulatory Compliance

This disclosure demonstrates the company's adherence to regulatory requirements for timely communication of material developments to stakeholders. Such GST-related orders are part of ongoing tax assessments that companies face during routine compliance reviews by tax authorities.

UltraTech Cement Limited has announced its strategic entry into renewable energy through the acquisition of a 26.20% equity stake in Sunsure Solarpark Thirty Eight Private Limited. The cement major disclosed this development in a regulatory filing, highlighting its commitment to sustainable energy solutions and fulfilling green energy requirements.

Acquisition Details

The acquisition involves UltraTech Cement entering into comprehensive agreements including an Energy Supply Agreement and Share Subscription and Shareholders Agreement. The transaction structure and key parameters are outlined below:

Target Company Profile

Sunsure Solarpark Thirty Eight Private Limited operates as a special purpose vehicle in the renewable energy sector. The company is focused on developing solar power infrastructure with advanced energy storage capabilities:

Strategic Rationale

UltraTech Cement has outlined multiple strategic objectives for this acquisition that align with both operational efficiency and regulatory compliance requirements. The primary purposes include meeting the company's green energy needs, optimizing energy costs, and ensuring compliance with regulatory requirements for captive power consumption under electricity laws.

The solar project will operate on a captive basis, providing UltraTech Cement with direct access to renewable energy for its operations. The integrated battery energy storage system will enhance the reliability and efficiency of the solar power generation, ensuring consistent energy supply even during non-peak solar hours.

Financial and Operational Impact

The acquisition represents UltraTech Cement's commitment to sustainable operations while maintaining cost efficiency. With an investment of Rs. 6.72 crore for a 26.20% stake, the company gains access to clean energy infrastructure that supports its long-term operational strategy.

The target company, incorporated as a newly established special purpose vehicle, is focused on project development. The transaction does not require any governmental or regulatory approvals and is structured as an arms-length transaction with no promoter group interest in the acquired entity.