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 concerning FY 2022-23. The GST department alleges the company charged in-patients MRP, including GST, for 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 to connect this matter with an earlier pending writ, for which further proceedings were stayed on an interim basis.
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 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
How CapitSignal classified this
- Reasoning:
- The notice creates a potential GST liability of ₹11.11 crore, excluding interest and penalties. Its financial outcome remains uncertain because the company intends to challenge the notice and cites an interim stay in a related earlier matter.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%