Uno Minda's Subsidiary Faces Rs 48 Lakh Tax Demand for Excess Input Tax Credit

UNO Minda 's step-down subsidiary, Mitil Polymer Private Limited (MPPL), is facing a tax demand of Rs 48.06 lakh from the Maharashtra State Tax Office. The demand stems from an alleged excess claim of Input Tax Credit for the financial year 2019-20.

Tax Demand Breakdown

The order breaks down the demand as follows:

Component	Amount (in Rs)
Tax	25,60,082
Interest	19,90,946
Penalty	2,55,551
Total	48,06,579

Company's Response

Uno Minda has stated that MPPL intends to contest the order based on the merits of the case. In its disclosure to the stock exchanges, the company emphasized that it does not foresee any material impact on its financial, operational, or other activities arising from this matter.

Regulatory Compliance

The disclosure was made in compliance with Sub-Para 20 of Para A of Part A of Schedule III of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. This regulation requires listed entities to disclose any action taken by regulatory or statutory authorities that may have a bearing on the company's operations.

Implications for Investors

While the tax demand is significant, Uno Minda's assertion of no material impact suggests that the company is well-positioned to handle the situation. However, investors should keep an eye on the progress of MPPL's contest against the order, as the outcome could provide insights into the company's tax management practices and potential future liabilities.

As the case unfolds, it will be crucial to monitor any updates from Uno Minda regarding the resolution of this tax matter and its potential implications on the company's financial statements in the coming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.33%	-3.06%	-9.09%	+32.42%	+27.86%	+625.48%

UNO Minda Limited, a prominent player in the automotive components industry, has scheduled a crucial board meeting for February 6, 2025, to address several important matters that could significantly impact the company's financial landscape.

Financial Results Review

The board will review the un-audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024. This review will provide investors and stakeholders with insights into the company's performance during the third quarter of the fiscal year 2024-25.

Potential Fund Raising

Uno Minda is considering raising funds through non-convertible debt securities. The board will discuss the possibility of raising up to Rs. 500.00 crores in one or more tranches, subject to necessary approvals. This decision aligns with the company's recent initiatives to bolster its financial resources.

Interim Dividend Consideration

The board is set to consider and potentially recommend the payment of an interim dividend for the Financial Year 2024-25. This consideration demonstrates the company's commitment to delivering value to its equity shareholders.

Trading Window Closure

In compliance with regulatory requirements, Uno Minda has announced the closure of the trading window for company securities. This closure applies to all directors, officers, and designated persons, effective immediately until 48 hours after the results are made public on February 6, 2025. This measure ensures fair trading practices and prevents insider trading during this sensitive period.

Recent Strategic Moves

Uno Minda has been actively pursuing strategic initiatives to enhance its operational efficiency and sustainability. In September 2025, the company approved an investment of up to Rs. 4.75 crores in a Special Purpose Vehicle (SPV) for sourcing power through solar energy. This move, aimed at increasing the company's utilization of renewable energy in Tamil Nadu, reflects Uno Minda's commitment to sustainable practices.