Mankind Pharma Receives GST Penalty Order of ₹15.32 Crores, Plans Appeal

Mankind Pharma Limited has informed stock exchanges about receiving a significant GST penalty order from tax authorities, though the company maintains it will contest the decision through appropriate legal channels.

GST Order Details

The pharmaceutical company received an order on December 10, 2025, from the Office of the Principal Commissioner, Central GST Central Excise, Patna, issued by the Joint Commissioner under applicable provisions of the GST Act. The order spans five financial years and carries substantial monetary implications.

Parameter:	Details
Issuing Authority:	Joint Commissioner, CGST Central Excise, Patna
Order Date:	December 10, 2025
Penalty Amount:	₹15.32 crores
Period Covered:	FY2018-19 to FY2022-23
Duration:	5 years

Nature of Violation

The GST order pertains to disallowance of Input Tax Credit (ITC) on account of reconciliation differences in the GST returns filed by the company. This relates to discrepancies identified by the Bihar GST Authority under the Central Goods and Services Tax Act, 2017.

Company's Response and Legal Position

Mankind Pharma has expressed confidence in its legal standing regarding the matter. The company stated it possesses adequate factual and legal grounds to substantiate its position and considers the order not tenable in law.

Key aspects of the company's response include:

Plans to file necessary appeal with the appellate authority
Assessment that the order lacks legal foundation
Confidence in factual and legal grounds supporting their position
Commitment to taking appropriate legal action

Financial and Operational Impact

The company has assessed the potential impact of this GST order on its business operations and financial performance. Based on their evaluation of facts and prevailing law, Mankind Pharma expects no material impact on its financials, operations, or other activities.

Impact Assessment:	Company's Position
Financial Impact:	No material impact expected
Operational Impact:	No material impact expected
Other Activities:	No material impact expected
Legal Strategy:	Appeal to be filed

Regulatory Compliance

This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding material developments. The company has provided detailed information as required under the regulatory framework, including the SEBI Master Circular dated November 11, 2024.

The matter represents a routine regulatory challenge that pharmaceutical companies may face regarding GST compliance, and Mankind Pharma appears prepared to address it through established legal procedures.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.55%	-1.21%	-4.02%	-8.84%	-17.80%	+53.19%

Mankind Pharma , a prominent player in the Indian pharmaceutical industry, has recently received an updated Environmental, Social, and Governance (ESG) rating from NSE Sustainability Ratings and Analytics Limited. This development marks a significant step in the company's transparency and commitment to sustainable practices.

ESG Rating Details

NSE Sustainability Ratings and Analytics Limited, an independent entity, has assigned an ESG rating to Mankind Pharma. The key details of this rating are as follows:

Aspect	Details
Rating	71
Fiscal Year	2024-25
Rating Provider	NSE Sustainability Ratings and Analytics Limited
Assessment Basis	Publicly available information

Significance of the Rating

The ESG rating of 71 reflects Mankind Pharma's performance across environmental, social, and governance parameters. This independent assessment provides stakeholders with valuable insights into the company's sustainability practices and corporate responsibility efforts.

Regulatory Compliance

Mankind Pharma's disclosure of this ESG rating aligns with the regulatory requirements set by the Securities and Exchange Board of India (SEBI). The company has informed the stock exchanges about this rating in accordance with SEBI's Listing Obligations and Disclosure Requirements Regulations.

Company's Stance

It's important to note that Mankind Pharma did not engage NSE Sustainability for this rating. The assessment was conducted independently by NSE Sustainability based on publicly available information about the company's practices and policies.

Implications for Investors

This ESG rating provides investors and other stakeholders with an additional metric to evaluate Mankind Pharma's long-term sustainability and risk management practices. As ESG factors continue to gain importance in investment decisions, such ratings offer valuable insights into a company's non-financial performance.

The disclosure of this ESG rating demonstrates Mankind Pharma's commitment to transparency and its acknowledgment of the growing importance of sustainable business practices in the pharmaceutical sector.

Investors and stakeholders can access more information about this ESG rating on Mankind Pharma's official website at www.mankindpharma.com .