Artemis Medicare faces ₹11.11 crore GST show-cause notice
As filed · Artemis Medicare Services Limited has submitted to the Exchange a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
What happened
FactArtemis Medicare Services received a CGST Gurugram show-cause notice for FY 2022-23 alleging that it charged in-patients MRP inclusive of GST on medicines, consumables and implants without remitting the GST to the government. The stated exposure is ₹11.11 crore plus interest and penalty; the company is preparing a writ petition and plans to connect it with an earlier matter that has an interim stay.
Why it matters
CapitSignal interpretationLitigation creates a contingent liability that is not in reported profit until it crystallises.
Scale
- 1.0% of FY26 revenue
₹11.11 Cr stated in the filing against ₹1,060.49 Cr revenue (FY26, standalone)
Source: financial_facts · exchange_table
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Margins
Withdrawnwe look to improve the overall margins beyond 21% is what I can say
the first reason for improved margins is economies of scale
Change
FactImplication
CapitSignal interpretationCapex
RevisedSo currently we are operating 700 beds.
As per the layouts and the drawings, it is coming up to 200 plus beds, but the exact number of beds, it would somewhat lie between 950 to 960 maybe with inclusion of this 200 plus beds.
Change
FactImplication
CapitSignal interpretationDemand
WithdrawnWe are hoping to get direct insurance empanelment within at least 8 to 10 weeks time.
the aim is to become the nodal referral center for Haryana, if not the entire NCR, for advanced pediatric and obstetric and gynecological care
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Amount claimed against the company
- Whether a provision has been made
- Next hearing or order date
- All the permissions including the architectural and the commencement would take would be somewhat between 18 t (management committed by H1 FY28)
- We are hoping to get direct insurance empanelment within at least 8 to 10 weeks time. (management committed by Q1 FY27)
Evidence
- Artemis Medicare Services Limited has submitted to the Exchange a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015(opens the original filing in a new tab)
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
How CapitSignal classified this
- Reasoning:
- The notice creates a potential tax liability beyond the stated ₹11.11 crore because interest and penalty may also apply. The company intends to challenge it in court, and an earlier related matter is already subject to an interim stay.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%