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:

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 .

Mankind Pharma , a prominent player in the Indian pharmaceutical industry, has recently received a Goods and Services Tax (GST) order imposing a penalty of INR 83,00,790 for the financial year 2021-22. The order, issued by the office of the Commissioner Goods and Service Tax, Haryana, alleges disallowance of Input Tax Credit under Section 16(4) of the Central Goods and Services Tax (CGST) Act.

Key Details of the GST Order

Company's Response

Mankind Pharma has taken a firm stance against the order, describing it as "arbitrary and unjustified." The company plans to file an appeal with the appropriate appellate authority to contest the penalty. In its official statement, Mankind Pharma emphasized that this order would have no material impact on its financials, operations, or other activities.

Implications and Next Steps

1. Appeal Process: Mankind Pharma is preparing to file a necessary appeal with the appellate authority to challenge the GST order.
2. Financial Impact: The company maintains that there will be no significant effect on its financial position or operations due to this order.
3. Regulatory Compliance: As per SEBI regulations, Mankind Pharma has duly informed the stock exchanges about this development, adhering to the disclosure requirements under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements.

While the GST order presents a regulatory challenge for Mankind Pharma, the company's confident response and planned appeal suggest a strong belief in its tax compliance practices. Investors and market watchers will likely keep a close eye on the progress of this case and its potential implications for the pharmaceutical sector's tax landscape.