Jagsonpal Pharmaceuticals Limited has received a significant tax demand order from the Haryana State Tax authorities, totaling ₹1.52 crores for Financial Year 2021-22. The company disclosed this development on December 30, 2025, in compliance with SEBI listing regulations.

Tax Demand Details

The order was received on December 29, 2025, from the Office of the Deputy Commissioner of State Tax (SGST), Gurugram (East), Government of Haryana. The total demand comprises multiple components as outlined below:

Nature of Violations

The tax demand has been raised under section 73(9) of CGST/SGST Act, 2017 read with Section 20 of IGST Act, 2017. The order specifically addresses discrepancies identified in the company's GST compliance for Financial Year 2021-22.

The violations cited include:

• Mismatches of Input Tax Credit (ITC) appearing in GSTR-2A and GSTR-3B returns
• Tax liability discrepancies appearing in E-waybill vis-à-vis tax liability appearing in GSTR-1 Return
• Non-compliance with GST return filing requirements for the specified period

Company's Response Strategy

Jagsonpal Pharmaceuticals has outlined its response plan to contest the tax demand order. The company intends to file an appeal against the order before the concerned Appellate Authority along with the required pre-deposit for stay of the demand.

The order directs the company to make the payment in government treasury within 30 days of receipt. However, the company believes it has merits in the case and expects to challenge the demand through proper legal channels.

Financial Impact Assessment

The company has stated that it does not anticipate any material impact on its financials, operations, or other activities. Management believes the case has merit and expects to successfully contest the demand through the appellate process.

This disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding regulatory developments affecting the company.

Jagsonpal Pharmaceuticals Limited , a prominent player in the pharmaceutical industry, has taken a significant step towards enhancing employee engagement and ownership. The company recently announced the allotment of 56,571 equity shares under its Employee Stock Option Plan 2022 (JPL ESOP 2022), demonstrating its commitment to aligning employee interests with the company's growth.

Key Highlights of the Allotment

• Shares Allotted: 56,571 equity shares
• Face Value: Rs. 2 per share
• Allotment Date: November 18, 2025
• Scheme: Jagsonpal Pharmaceuticals Limited Employee Stock Option Plan, 2022 (JPL ESOP 2022)

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up share capital:

Allotment Details

The shares were issued at different exercise prices:

Implications and Benefits

1. Employee Motivation: By offering equity ownership, Jagsonpal Pharmaceuticals aims to boost employee morale and align their interests with the company's long-term success.

2. Retention Tool: ESOPs serve as an effective retention mechanism, encouraging key talent to stay with the company for extended periods.

3. Performance Incentive: The varying exercise prices suggest that the company may be rewarding different levels of performance or seniority through this allotment.

4. Market Perception: This move could be viewed positively by the market, as it demonstrates the company's focus on employee welfare and long-term growth strategies.

Regulatory Compliance

The allotment was made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The newly issued shares will rank pari-passu with the existing equity shares of the company in all respects.

Conclusion

Jagsonpal Pharmaceuticals' decision to allot these equity shares under its ESOP scheme reflects a strategic approach to human resource management. By increasing employee stake in the company, Jagsonpal is not only incentivizing its workforce but also potentially setting the stage for enhanced productivity and innovation in the competitive pharmaceutical sector.