GlaxoSmithKline Pharmaceuticals Limited has disclosed receiving a GST demand order from Karnataka State authorities under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The order, dated December 30, 2025, pertains to FY 2021-22 and involves a substantial financial demand.

GST Demand Details

The Deputy Commissioner of Commercial Taxes, (Audit)-2.1, DGSTO-2, Bangalore, has issued the demand order with the following financial breakdown:

Nature of Violation

The GST authorities have raised the demand in relation to GST rates applied for certain products. The order represents the culmination of an audit process conducted by the Karnataka State GST department for the financial year 2021-22.

Company's Response and Impact Assessment

GlaxoSmithKline Pharmaceuticals has provided the following assessment regarding the demand order:

Regulatory Compliance

The disclosure has been made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to inform stock exchanges about material events that could impact their operations or financial position.

The company has communicated this development to both BSE Limited and The National Stock Exchange of India Limited as part of its regulatory obligations. The pharmaceutical company maintains that despite the substantial demand amount, it does not anticipate any immediate impact on its financial operations while it evaluates the order and determines the appropriate course of action.

GlaxoSmithKline Pharmaceuticals Limited has issued a clarification to stock exchanges regarding a significant increase in trading volumes of its securities, attributing the surge to market-driven factors while confirming full regulatory compliance.

Exchange Communication and Regulatory Compliance

In response to queries from BSE Limited and the National Stock Exchange of India Limited dated December 31, 2025, the pharmaceutical company provided detailed clarification about the recent volume spike. The company emphasized that it has made all necessary disclosures pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 from time to time.

Volume Increase Attribution

The company categorically stated that the significant increase in trading volume is purely market driven. GlaxoSmithKline Pharmaceuticals clarified that it has not withheld any material information or events that could have a bearing on the company's operations or performance, including all price-sensitive information.

The pharmaceutical major assured that it maintains transparency in its communications with stakeholders and regulatory bodies. The company's response indicates that no specific corporate developments or undisclosed events contributed to the increased trading activity.

Ongoing Compliance Commitment

GlaxoSmithKline Pharmaceuticals reiterated its commitment to maintaining compliance with listing regulation requirements. The company assured exchanges that it will continue to keep them informed of all price-sensitive information as and when such information arises.

The clarification was signed by Ajay Nadkarni, who serves as Vice President - Administration, Real Estate & Company Secretary, demonstrating the company's formal approach to regulatory communications and transparency obligations.