Eureka Forbes receives Uttar Pradesh GST notice totaling Rs. 273.40 crore
As filed · Eureka Forbes Limited has informed the Exchange about Receipt of Show Cause Notiice
What happened
FactEureka Forbes received a September 25, 2026 show-cause notice under Section 73(1) of the Uttar Pradesh GST Act for FY 2022-23. The notice alleges tax liability of Rs. 149.21 crore, interest of Rs. 109.27 crore and penalty of Rs. 14.92 crore; the company intends to contest it and says it does not foresee a material impact.
Why it matters
CapitSignal interpretationLitigation creates a contingent liability that is not in reported profit until it crystallises.
Scale
- 10.1% of FY26 revenue
₹273.4 Cr stated in the filing against ₹2,710.47 Cr revenue (FY26, standalone)
Source: financial_facts · exchange_table
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Demand
DelayedWater Purifiers witnessed revenue acceleration with a high-teens growth in Q1 FY27 coming through a combination of double-digit volume growth and pricing.
We started FY27 on a solid note with revenue growth of 15.3% in Q1.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Amount claimed against the company
- Whether a provision has been made
- Next hearing or order date
- As we enter the next phase of our journey, with an aim to double our business by FY30, we have laid a strong f (management committed by FY30)
Evidence
- Eureka Forbes Limited has informed the Exchange about Receipt of Show Cause Notiice(opens the original filing in a new tab)
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · FY26
How CapitSignal classified this
- Reasoning:
- The proposed demand is sizeable and could create a financial exposure if upheld. The company disputes the notice, including its apparent use of pan-India financial information without establishing transaction-level liability for its Uttar Pradesh GST registration.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%