UTL Industries received an appeal order from the Gujarat Goods and Services Tax (GST) Department on September 16, 2026, leaving an outstanding demand of ₹11.85 lakh. The order also levies interest of ₹11.66 lakh and a penalty of ₹1.18 lakh, despite granting partial relief. The company intends to pursue further appeals against the decision.

The Appellate Authority issued the revised demand notice following an appeal filed by the company for ₹30.06 lakh. The authority allowed a demand of ₹5.37 lakh, reducing the initial claim. However, the remaining disputed amount includes the principal GST demand, accrued interest, and the specified penalty.

Details of the Order

The violation cited in the order relates to Input Tax Credit (ITC) claimed by the company that was not reflected in GSTR 2B. This discrepancy formed the basis for the tax department's assessment.

What the Numbers Show

The interest component (₹11.66 lakh) nearly matches the principal GST demand (₹11.85 lakh), indicating significant accrual over time. This suggests the underlying tax dispute has been pending for a considerable period before this appellate stage.

Company Response

UTL Industries stated that the order has no material impact on its financial or operational activities. Managing Director Paras Jain confirmed the receipt of the order and affirmed the company's plan to challenge the decision before the appropriate authority.

UTL Industries has submitted its annual report for the financial year ended March 31, 2026, to the Bombay Stock Exchange. The company reported a net profit after tax of ₹5.78 lakhs for FY26, marking a turnaround from the net loss of ₹10.22 lakhs recorded in the previous year.

The Board of Directors has set September 25, 2026, as the record date for shareholders entitled to vote at its 37th Annual General Meeting. The Register of Members and Share Transfer Books will remain closed from Saturday, September 19, 2026, to Friday, September 25, 2026.

Financial Performance

For FY26, the company reported total revenue of ₹26.86 lakhs, an increase from ₹16.61 lakhs in FY25. Net profit before tax stood at ₹5.82 lakhs, a significant improvement from the net loss of ₹10.23 lakhs in FY25.

The Board of Directors has not recommended any dividend for the financial year 2025-26. The paid-up equity share capital remained unchanged at ₹3,29,55,000.

Annual Report Dispatch

Pursuant to Regulation 36(1)(b) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the company dispatched letters containing a web link to the Annual Report for FY26 to shareholders who had not registered their email addresses with the company, Registrar & Share Transfer Agent (RTA), or Depository Participants (DPs) as on August 21, 2026.

The complete details of the Annual Report are available online via the provided web link. This dispatch ensures compliance with regulatory norms for electronic communication while encouraging a green initiative by reducing physical mail.

Meeting Agenda

The 37th AGM will transact ordinary business, including:

• Receiving, considering, and adopting the Audited Financial Statements for the financial year ended March 31, 2026.
• Re-appointment of Hitesh Shah as a director. He retires by rotation and is eligible for re-appointment.
• Appointment of M/s. V. J. Amin & Co., Chartered Accountants, as Statutory Auditors for a five-year term from the conclusion of this AGM until the conclusion of the 42nd AGM.

Voting Details

Shareholders holding shares in physical or dematerialized form as of Friday, September 18, 2026, will be eligible to cast their votes electronically. This cut-off date applies to remote e-voting for all businesses transacted at the AGM.

The remote e-voting period begins on Tuesday, September 22, 2026, at 9:00 am and ends on Thursday, September 24, 2026, at 5:00 pm. National Securities Depository Limited (NSDL) is the authorized agency facilitating voting through electronic means.

The meeting is scheduled to begin at 4:00 pm on September 25, 2026. The company will conduct the proceedings through Video Conferencing or Other Audio Visual Means.

Regulatory Compliance

The intimation is issued pursuant to Section 91 of the Companies Act, 2013, and Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. UTL Industries submitted the notice to BSE Limited on August 29, 2026.