Axel Polymers: Board Approves Unaudited Q2 FY27 Results

Axel Polymers Ltd announced that its Board of Directors, in a meeting held on November 13, 2026, approved the unaudited financial results for the second quarter and half-year ended September 30, 2026. The results were reviewed and recommended by the Audit Committee, and a Limited Review Report was issued by the statutory auditors. The company also noted a significant demand of ₹31,57,14,784/- plus interest and a penalty of ₹55,06,08,824/- from the GST authorities for FY 2021-22 to 2024-25, for which no provision has been made. Additionally, investigations have been initiated by GST, Income Tax, and SEBI authorities. A vendor has also initiated legal proceedings for ₹18 Cr under the Negotiable Instruments Act, though the company believes no liability is probable.