Sterling & Wilson Renewable Energy Limited has received a GST order from tax authorities regarding input tax credit mismatch totaling ₹14.62 lakhs including penalty. The company disclosed this development on January 02, 2026, in compliance with SEBI Listing Regulations.

GST Order Details

The Superintendent of CGST, Jaipur, Rajasthan issued the order dated December 31, 2025, which the company received on January 02, 2026. The order addresses mismatch of input tax credits for a five-year period spanning April 2018 to March 2023.

Financial Impact and Coverage

The financial implications of this GST order are partially mitigated through an existing indemnity agreement. The indemnity arrangement involves multiple parties including Reliance New Energy Limited, Shapoorji Pallonji and Co. Private Limited, and Mr. Khurshed Daruvala, providing some protection against the financial impact.

Company Response

Sterling & Wilson Renewable Energy Limited is currently in the process of evaluating the contents of the GST order. The company has indicated it will determine the appropriate future course of action following this evaluation. Chief Financial Officer Ajit Pratap Singh signed the disclosure document confirming the accuracy and completeness of the information provided.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company has confirmed that no aberrations or non-compliances were specifically identified by the GST authorities beyond the input tax credit mismatch issue addressed in the order.

Sterling & Wilson Renewable Energy Limited has disclosed receiving a GST order worth ₹9.40 crores from tax authorities in Uttar Pradesh. The company made this disclosure on December 31, 2025, under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

GST Order Details

The order was issued by the Deputy Commissioner of SGST, Gautambuddha Nagar, Noida, Uttar Pradesh, addressing discrepancies in tax payments for a specific financial period. The company received the order dated December 31, 2025, on the same date.

Nature of Tax Issues

The GST order specifically relates to mismatch of input tax and shortfall of taxes paid during the financial year 2021-22. The total amount of ₹9.40 crores includes the principal tax amount along with penalty and applicable interest calculated as of the order date.

Financial Protection Measures

Sterling & Wilson Renewable Energy has indicated that the financial impact is partially mitigated through existing contractual arrangements. The company has an indemnity agreement in place with multiple parties that provides coverage for this liability.

Company Response and Next Steps

The renewable energy company is currently in the process of evaluating the contents of the order to determine its response strategy. The management is assessing the order details before deciding on the future course of action, which may include filing an appeal or making the required payments.

The disclosure was signed by Ajit Pratap Singh, Chief Financial Officer of Sterling & Wilson Renewable Energy Limited, confirming that the information provided is true, correct, and complete to the best of his knowledge and belief. The company has fulfilled its regulatory obligation by promptly informing the stock exchanges about this material development that could impact its financial position.