Mawana Sugars , a prominent player in the sugar industry, has received a tax notice from the Office-Joint Commissioner S.G.S.T. Office in Meerut, Uttar Pradesh, alleging double e-way bill generation on invoices at its Nanglamal Sugar Complex unit. The company disclosed this information in a regulatory filing to comply with SEBI regulations.

Details of the Tax Notice

The tax authority has imposed a liability of ₹1.22 lakh under Section 74(5) of the CGST Act, 2017. The breakdown of the liability is as follows:

The notice alleges that Mawana Sugars generated double e-way bills on invoices in three instances at its Nanglamal Sugar Complex unit. The company has been given until September 26, 2025, to respond to the notice.

Company's Response

Mawana Sugars has stated that the notice is factually incorrect. The company plans to file a reply within the stipulated timeframe to address the allegations. According to the regulatory filing, Mawana Sugars expects no financial impact beyond the imposed amount of ₹1.22 lakh.

Potential Consequences

The tax authority has warned that failure to discharge the said liability could result in a Show Cause Notice being issued under Section 74(1) of the CGST Act, 2017. This underscores the importance of the company's timely response to the allegations.

Investor Impact

While the amount involved is relatively small for a company of Mawana Sugars' size, the incident highlights the ongoing regulatory scrutiny in the sugar industry. Investors and stakeholders will likely be watching closely to see how the company resolves this issue with the tax authorities.

Mawana Sugars Limited continues to operate its business as usual while addressing this regulatory matter. The company's proactive disclosure of the notice demonstrates its commitment to transparency in its dealings with regulatory authorities and shareholders alike.

Mawana Sugars , a prominent player in the sugar industry, has released its unaudited financial results for the first quarter ended June 30, 2025, revealing a mixed financial performance.

Financial Highlights

The company reported a standalone net loss of Rs 13.66 crore for the quarter, a significant increase from the Rs 3.70 crore loss recorded in the same period last year. Despite the wider loss, Mawana Sugars saw a modest growth in its total income from operations, which stood at Rs 399.52 crore, up from Rs 387.70 crore in the previous year's corresponding quarter.

Key Financial Metrics

Here's a breakdown of Mawana Sugars' Q1 FY26 performance:

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw a decline, with a loss of Rs 18.26 crore compared to a loss of Rs 4.93 crore in the same quarter of the previous fiscal year.

Industry Context

The sugar industry often faces volatility due to factors such as sugarcane production, government policies, and global sugar prices. Mawana Sugars' performance should be viewed in the context of these industry-wide challenges.

Disclosure and Compliance

In compliance with regulatory requirements, Mawana Sugars Limited published its financial results in the Business Standard newspaper in both Hindi and English editions on August 4, 2025. This adherence to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, underscores the company's commitment to transparency and timely disclosure of financial information to its stakeholders.

As the sugar industry navigates through various market dynamics, stakeholders will be keenly watching Mawana Sugars' strategies to improve profitability in the coming quarters.