Bharat Heavy Electricals Limited (BHEL) has received a GST demand order from authorities in Gujarat, as disclosed in a regulatory filing. The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

GST Demand Details

The demand order originates from the Enforcement Division-5 in Gujarat and relates to a dispute concerning input tax credit availment and utilization. The financial implications of this order are structured across three components:

All amounts are in lakhs

Nature of Dispute

The GST demand order has been issued under Section 74 of the GST Act and specifically addresses issues related to input tax credit (ITC) availment and utilization by BHEL. The authorities have identified what they consider to be aberrations or non-compliances in the company's GST ITC practices.

Company Response and Next Steps

BHEL has indicated that the order is currently appealable under GST regulations. The company's immediate response includes:

• Evaluation of the impugned order for potential legal challenges
• Assessment of grounds for filing an appeal against the demand
• Review of the disputed input tax credit claims and supporting documentation

The company has stated that it is actively evaluating the order to determine the appropriate course of action, including the possibility of filing an appeal against the GST authorities' decision.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, specifically under Regulation 30 read with Sub Para 20 of Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This ensures transparency regarding material developments that could impact the company's operations or financial position.

The communication was digitally signed by Sayed Salahuddin, Manager of Corporate Communication at BHEL, and submitted to both BSE Limited and National Stock Exchange of India Limited as required under listing regulations.

Bharat Heavy Electricals Limited has announced a key senior management appointment, effective December 15, 2025. The company disclosed this change in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Senior Management Appointment

Shri Navin Kaul has been appointed as the new Head of Power Sector-Marketing for the Power Sector-Business Group I (PS-BGI) division, based in New Delhi. In his new role, Kaul will report directly to the Director General Manager (Power).

Professional Profile

The newly appointed executive brings significant experience to the position:

Regulatory Compliance

The appointment was formally communicated to both BSE Limited, Mumbai and National Stock Exchange of India Ltd., Mumbai as part of the company's regulatory disclosure obligations. The announcement was signed by Sayed Salahuddin, Manager, Corporate Communication, BHEL, and digitally authenticated on December 15, 2025.

Corporate Structure

Bharat Heavy Electricals Limited operates as a Government of India Undertaking with its registered office at BHEL House, Siri Fort, New Delhi. The company maintains its corporate communication functions from New Delhi and continues to strengthen its leadership team across various business divisions, particularly in the power sector segment.

This strategic appointment of Navin Kaul as Head of Power Sector-Marketing for the PS-BGI division underscores BHEL's commitment to enhancing its marketing capabilities in the power sector. With his extensive experience of 33 years in the company, Kaul is expected to bring valuable insights and leadership to this crucial role.