Greenlam Subsidiary Receives Show Cause Notice for ₹7.73 Cr ITC Reversal

Greenlam Industries Ltd has informed the stock exchanges about its wholly-owned subsidiary receiving a Show Cause Notice (SCN) from the Assistant Commissioner (ST), Andhra Pradesh. The notice, dated September 29, 2026, pertains to the alleged ineligible input tax credit (ITC) amounting to ₹7,73,49,835 (₹7.73 Crore) for the Financial Year 2022-23. The subsidiary is required to pay the disputed amount along with applicable interest and penalty or raise objections within 30 days. Greenlam Industries is currently reviewing the SCNs and evaluating legal recourse, expressing optimism for a favourable outcome with no expected material impact on its financials or operations.