Tirupati Sarjan Limited (TSL), a company listed on the BSE, has disclosed that it has received a summons from the CGST Chennai South Commissionerate for a GST inquiry. The summons, issued under Section 70 of the Central Goods and Service Tax Act, 2017, requires the company to appear before the tax authority on October 7, 2025.

Details of the Summons

The summons was issued by Kashif Khan, Superintendent/Appraiser/Senior Intelligence Officer from the HPU Section of the CGST Chennai South Commissionerate. TSL received the summons via email on September 25, 2025, although the physical copy had not been received at the time of the company's disclosure to the stock exchange.

Required Documents and Information

The tax authority has requested TSL to provide various documents and information, including:

1. Trial Balance for the Tamil Nadu Region
2. Form 26AS, Form AIS, and Form TIS
3. Details of projects undertaken in Tamil Nadu and their work orders
4. Client payment details
5. Bank account statements
6. Tally data (Accounting data)
7. Reconciliation between Trial Balance and GST Returns

All the requested information is to be provided from the financial year 2020-21 onwards.

Company's Response

In its disclosure to the BSE, Tirupati Sarjan Limited stated that the inquiry is at a preliminary stage, and no specific violations have been alleged by the tax authority. The company also mentioned that it cannot determine any financial impact at this time due to the nascent stage of the inquiry.

Compliance with SEBI Regulations

TSL has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the recent SEBI circular dated July 13, 2023. The company has provided additional details as required by the regulations, including the nature of the action taken and the potential impact on its operations.

Next Steps

The company is expected to appear before the Superintendent/Appraiser/Senior Intelligence Officer on the specified date with the requested documents and information. As the inquiry progresses, more details may emerge regarding the nature and scope of the GST investigation.

Investors and stakeholders of Tirupati Sarjan Limited will likely be watching closely for any further developments or disclosures related to this GST inquiry.

Tirupati Sarjan Limited , a construction and government tender work company, has released its unaudited financial results for the quarter ended June 30, 2025. The company's performance shows a mixed picture with a decline in revenue but maintained profitability.

Financial Highlights

• Net Profit: Rs 106.34 lakhs, down from Rs 120.60 lakhs in the same quarter last year
• Total Revenue: Rs 3,082.54 lakhs, decreased from Rs 4,121.00 lakhs year-over-year
• Earnings Per Share (EPS): Rs 0.32, compared to Rs 0.37 in Q1 of the previous year

Revenue Breakdown

Tirupati Sarjan's revenue primarily comes from two segments:

1. Construction Business: Rs 100.13 lakhs
2. Tender Work: Rs 2,946.55 lakhs

Expenses and Profitability

The company reported total expenses of Rs 2,963.51 lakhs for the quarter. Despite the decrease in revenue, Tirupati Sarjan managed to maintain a positive bottom line, indicating effective cost management.

Segment Performance

While the company operates in both construction of houses/complexes and government tender work segments, it's worth noting that the tender work contributed significantly more to the revenue this quarter.

Board Approval and Audit Review

The financial results were approved by the Audit Committee and subsequently by the Board of Directors in their meeting held on August 5, 2025. MAAK and Associates, Chartered Accountants, conducted a limited review of the financial results and found no material misstatements.

Management Commentary

Jitendrakumar Ishvarlal Patel, Managing Director of Tirupati Sarjan Limited, signed off on the financial results.

Market Implications

While the company has seen a decrease in both revenue and profit compared to the same quarter last year, it has maintained profitability. The company's focus on government tender work appears to be a significant driver of its revenue, which could be a point of interest for stakeholders analyzing the company's business model and growth strategies.

Note: All financial figures are in Indian Rupees (Rs) and in lakhs, as per the company's financial report.