Parmeshwar Metal Limited has received two significant orders from GST authorities in Gujarat, confirming tax demands and penalties totaling ₹3.95 crores. The company disclosed this development to BSE Limited under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements.

GST Authority Orders Details

The company received orders from two separate GST authorities, both relating to Input Tax Credit (ITC) violations:

Nature of Violations

Both orders were issued in Form GST DRC-07 under the Central Goods and Service Tax Act, 2017 and Gujarat Goods and Service Tax Act, 2017. The violations involve different aspects of ITC management:

First Order - Central GST Division

The larger order pertains to alleged wrong availment and utilization of ITC from suppliers whose registrations were cancelled. This includes:

• Suo-moto cancelled suppliers
• Ab-initio cancelled suppliers
• Short paid tax liability issues

Second Order - State Tax Enforcement

The second order addresses alleged inadmissible ITC received from non-existent suppliers, highlighting supply chain verification issues.

Company's Response and Impact Assessment

Parmeshwar Metal Limited has outlined its strategy to contest both orders through the appellate process. The company's position includes:

• Legal Action: Filing appeals before the First Appellate Authority against both adjudicating authority orders
• Merit Assessment: The company believes both demands lack merit and expects them to be set aside during appellate proceedings
• Operational Impact: No material impact anticipated on financial, operational, or other company activities

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of SEBI Listing Regulations. The communication was signed by Managing Director Shantilal Shah and submitted to BSE Limited with the company's scrip code 544330.

The company has provided comprehensive details as required under listing regulations, ensuring transparency regarding the GST authority actions and their potential implications for stakeholders.

Parmeshwar Metal Limited (Scrip Code: 544330) has announced its unaudited financial results for the half year ended September 30, 2025, showcasing robust performance and adherence to its public issue fund utilization plans.

Financial Highlights

The company reported impressive financial figures for the half-year period:

These results demonstrate Parmeshwar Metal's strong market position and operational efficiency in the metal manufacturing sector.

Public Issue Fund Utilization

Parmeshwar Metal Limited has confirmed that there is no deviation in the utilization of proceeds from its public issue. The company raised a total of INR 2,474.16 lakhs through the public issue, with funds allocated for various purposes:

The company reports that INR 41.35 lakhs of unutilized funds from public issue expenses are held in scheduled commercial banks.

Key Developments

New Manufacturing Facility

The company has fully utilized the allocated funds (INR 218.08 lakhs) for setting up a new manufacturing facility in Gandhinagar, Dehgam, Gujarat. This facility is dedicated to the production of bunched copper wire and 1.6 MM copper wire.

Furnace Renovation

Parmeshwar Metal has completed its planned furnace renovation, utilizing the entire allocated amount of INR 186.67 lakhs.

Working Capital Enhancement

The company has strengthened its working capital by utilizing INR 1,392.17 lakhs, as per the original allocation.

Corporate Governance

The Board of Directors meeting, held on November 14, 2025, approved these unaudited financial results. The company has adhered to SEBI regulations by promptly disclosing its financial performance and fund utilization status.

Parmeshwar Metal Limited's management, led by Managing Director Shantilal Shah, has demonstrated commitment to transparent financial reporting and efficient capital allocation. The absence of any deviations in fund utilization underscores the company's focus on executing its growth strategy as outlined during the public issue.

As the metal manufacturing sector continues to evolve, Parmeshwar Metal's strategic investments in new facilities and equipment upgrades position it well for future growth opportunities. Investors and stakeholders will likely keep a close watch on how these investments translate into long-term value creation for the company.