Jubilant Ingrevia Limited has received a GST demand order from tax authorities for financial year 2017-18, with the company disclosing the development under regulatory compliance requirements on December 26, 2025.

GST Demand Details

The Joint Commissioner (Appeals), State Tax, Pune has confirmed a GST demand against the company's Nira plant through an appeal order. The total financial impact of the confirmed demand amounts to ₹2.18 crores across multiple components.

Nature of Violation

The GST authorities have alleged wrong availment and utilization of Input Tax Credit in violation of Section 16 of the GST Act, 2017. The order was passed under reference number JC/APP-02/GST-18/23-24/27AABCV0200H1ZW/Jubilant Pharmova Limited/ORDER/25-26/136, dated December 11, 2025, and was received by the company on December 26, 2025, at 13:06 pm.

Company's Response Strategy

Jubilant Ingrevia has indicated its intention to challenge the demand order through the appropriate legal channels. The company is in the process of taking necessary action to file an appeal before the GST Appellate Tribunal (GSTAT) against the impugned demand order raised by the GST authorities.

Financial Impact Assessment

The company has assessed that it has a strong case to defend on merits and expects no material financial or operational impact from this development. This assessment suggests the company's confidence in successfully challenging the demand through the appellate process.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, in compliance with the SEBI Master Circular dated November 11, 2024. The company has simultaneously posted the relevant documentation on its official website at www.jubilantingrevia.com .

India Ratings and Research has affirmed Jubilant Ingrevia 's IND AA/Stable rating on bank loan facilities worth Rs 23,883.8 million, according to a recent announcement. This development comes as the company's loan facilities saw a slight reduction from the previous Rs 24,200 million.

Key Points

1. Rating Affirmation: India Ratings and Research has maintained Jubilant Ingrevia's IND AA/Stable rating, indicating a strong credit profile.

2. Bank Loan Facilities: The affirmed rating applies to bank loan facilities totaling Rs 23,883.8 million.

3. Reduction in Facility Size: The size of the rated bank loan facilities has been reduced from Rs 24,200 million previously.

4. Commercial Paper Rating Withdrawn: The rating agency has withdrawn its rating on the company's proposed commercial paper worth Rs 4,000 million.

Financial Overview

To provide context on Jubilant Ingrevia's financial position, here's a snapshot of key balance sheet items (in Rs crore):

The company's balance sheet shows growth across key metrics, with total assets increasing by 6.34% and total equity rising by 6.93% year-over-year.

The affirmation of Jubilant Ingrevia's credit rating on its bank loan facilities suggests that the company maintains a strong financial position and creditworthiness in the eyes of the rating agency.