Sudarshan Chemical Industries Limited , a prominent player in the chemical industry, has received a significant GST order from tax authorities. The company has disclosed receiving orders from multiple tax jurisdictions, with the latest being a substantial demand from the Pune tax office.

Latest GST Order from Pune

The company has received a GST DRC-07 order dated December 30, 2025, from the Office of Deputy Commissioner of State Tax, Bhosari-513: Pune-South East, Pune-South West, Maharashtra. This order covers the period from April 1, 2021, to March 31, 2022, and involves a substantial financial demand.

Previous GST Orders from Kolkata

Earlier, the company had received four GST orders from the Office of Superintendent Range-I, Bhabanipur, Kolkata South, West Bengal, covering the period from April 2018 to March 2022, with a total demand of ₹38.18 lakh.

Company's Response and Legal Position

Sudarshan Chemical Industries has stated that it believes it has a strong case against all points raised in both sets of orders. The company maintains that the latest Pune order, like the previous Kolkata orders, is appealable and is in the process of filing appeals before the appropriate authorities.

The company has emphasized that these orders will not have any impact on its financial, operational, or other activities, expressing confidence in its legal position across all jurisdictions.

Regulatory Compliance

In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Sudarshan Chemical Industries has duly informed the stock exchanges about these GST orders. The disclosure was signed by Mandar Velankar, General Counsel and Company Secretary, ensuring transparency with stakeholders regarding these regulatory developments.

Sudarshan Chemical Industries Limited , a leading pigment manufacturer, has reported robust financial results for the first quarter, showcasing significant growth in revenue and profitability.

Key Financial Highlights

• Consolidated revenue from operations surged to ₹2,506.90 crore, a substantial increase from ₹633.60 crore in the same quarter last year.
• Net profit rose to ₹55.00 crore, up 78% from ₹29.40 crore in Q1 of the previous year.
• EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) increased to ₹192.40 crore from ₹80.50 crore year-over-year.

Segment Performance

The company's pigments segment, which is its primary business, demonstrated strong performance:

• Pigments segment revenue reached ₹2,456.60 crore, compared to ₹589.50 crore in the corresponding quarter last year.
• Segment EBITDA for pigments grew to ₹192.20 crore from ₹90.20 crore in Q1 of the previous fiscal year.

Financial Ratios and Metrics

Sudarshan Chemical showed improvement in several key financial metrics:

• Operating margin stood at 7.67%, reflecting the company's operational efficiency.
• The debt-equity ratio improved to 0.53, indicating a stronger balance sheet position.
• Current ratio increased to 1.01, suggesting better short-term liquidity.

Recent Developments

The company has made several strategic moves recently:

• Completed the acquisition of the global pigment business operations of the Heubach Group on March 3, which has contributed to the substantial revenue growth.
• Appointed Mr. Rajesh Balkrishna Rathi as the Chairman of the Board of Directors, effective May 29, in addition to his role as Managing Director.
• Allotted 23,584 options to eligible employees under the Sudarshan Employee Stock Option Plan, 2018, on July 29.

Outlook

With the recent acquisition and strong Q1 performance, Sudarshan Chemical appears well-positioned for continued growth in the pigment industry. The company's focus on expanding its global footprint and strengthening its product portfolio is likely to drive future performance.

Investors and analysts will be watching closely to see if the company can maintain this growth trajectory in the coming quarters, especially as it integrates the newly acquired Heubach Group operations.

Note: All financial figures are based on consolidated results for the quarter ended June 30.