Samvardhana Motherson Subsidiary Fined USD 43,200 by IRS

Samvardhana Motherson International Limited disclosed that its indirect wholly-owned subsidiary, SMP Automotive Systems Alabama Inc., has been fined USD 43,200 (approximately INR 4.17 million) by the US Internal Revenue Service (IRS). The penalty was imposed due to a delay in filing Form 8955-SSA for the year ended December 31, 2024. The company stated that this penalty has no material impact on its financials or operations. The delay in disclosure was attributed to the order being under review and time zone differences.