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Filatex India Sets Sep 15, 2026 Record Date for Rs 0.30 Per Share Dividend
Filatex India Limited has fixed Tuesday, September 15, 2026, as the record date for determining shareholder entitlement to a dividend of Rs 0.30 per share. The dividend payout is subject to shareholder approval at the 36th Annual General Meeting (AGM) scheduled for September 22, 2026. The cut-off date for e-voting is also set for September 15, 2026, with remote voting running from September 18 to September 21, 2026. At the current share price of Rs 79.5, the dividend offers a yield of approximately 0.38%.
Confidence: HIGH
What changedFilatex finalized the record date of September 15, 2026, for its proposed dividend and scheduled its 36th AGM.
Why it mattersFormalizes the operational schedule for annual dividend disbursement and voting entitlements for the upcoming AGM.
Dividend per share: Rs. 0.30Record date: 15-Sep-2026AGM date: 22-Sep-2026Dividend yield: ~0.38%
📅 Short termStock will trade ex-dividend prior to September 15, 2026; minimal short-term price movement expected given the modest yield.
📈 Long termLimited; reflects standard recurring dividend payouts from steady operational cash flows.
Key Highlights
Dividend recommended at Rs 0.30 (Thirty Paisa) per share, pending AGM approval
Record date and voting cut-off date fixed as 15th September, 2026
36th Annual General Meeting scheduled for 22nd September, 2026 at 4:00 PM via VC/OAVM
Remote e-voting window runs from 18th September, 2026 (9:00 AM) to 21st September, 2026 (5:00 PM)
👀 What to Watch
Shareholders seeking dividend eligibility must hold shares before the September 15, 2026 record date and monitor AGM voting results on September 22, 2026.
Filatex Q1 FY27 PAT up 20.7% YoY to ₹49.1 Cr; ₹690 Cr Capex Program on Track
Filatex India reported a resilient Q1 FY27 with revenue growing 9.1% YoY to ₹1,145 Cr and PAT rising 20.7% to ₹49.1 Cr. Despite a YoY dip in production volumes to 84,075 MT, profitability improved through better realizations and cost management. The company is aggressively pursuing a ₹690 Cr capex program (approx. 46% of net worth) focused on value-added products and recycling. Management expects the Ecosis recycling project to commission in November 2026, targeting high EBITDA margins of 30%.
Confidence: HIGH
What changedThe company has provided specific timelines for its ₹690 Cr capex and the Ecosis recycling project, alongside reporting strong double-digit profit growth for Q1 FY27.
Why it mattersThe shift toward recycled polyester and value-added products represents a structural move to improve OPM from the current 7.5% toward higher levels, potentially re-rating the stock.
Q1 FY27 Revenue: ₹1,145 CrQ1 FY27 PAT: ₹49.1 CrCapex vs Net Worth: ~46%Ecosis Commissioning Date: November 2026Target Ecosis EBITDA Margin: 30%Peak Net Debt Forecast: ₹150-200 Cr
📅 Short termThe stock may react positively to the 20.7% YoY PAT growth and the clarity provided on the commissioning of the recycling project.
📈 Long termThe successful execution of the ₹690 Cr capex and the entry into the high-margin recycling segment could structurally enhance the company's return profile over the next 2-3 years.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Susceptibility to crude oil price volatility affecting raw material costs
- Potential dumping by Chinese players impacting domestic spreads
- Execution risk associated with the new recycling technology
Key Highlights
Revenue grew 16.3% QoQ to ₹1,145 Cr, driven by higher realizations despite stable sales volumes of 89,872 MT.
PAT increased 20.7% YoY to ₹49.1 Cr, reflecting improved operational efficiency and financial management.
Ongoing capex of ₹690 Cr is focused on brownfield expansion and the Ecosis recycling project.
Ecosis recycling project is scheduled for commissioning in November 2026 with a target EBITDA margin of 30%.
Peak net debt is projected to reach ₹150-200 Cr by the end of FY27, up from current levels of ₹30-40 Cr.
👀 What to Watch
Monitor the commissioning and stabilization of the Ecosis recycling project in November 2026, as its high-margin profile could significantly impact overall profitability. Additionally, track the commissioning of domestic PTA projects by GAIL and IOCL in late 2026/early 2027, which may reduce raw material import dependency.
₹690 Cr Capex Plan; Q1FY27 PAT Rises 22% YoY to ₹49.14 Cr
Filatex India reported a 16.22% YoY increase in standalone revenue to ₹1,145 Cr for Q1FY27, with PAT growing 22.06% to ₹49.14 Cr. The company is executing a ₹690 Cr 'Vision 2028' capex plan, which is approximately 46% of its current net worth. A key focus is the ₹300 Cr ECOSIS project, India's first commercial textile-to-textile recycling plant, expected to commission by October 2026. While revenue grew, EBITDA margins compressed to 6.80% from 8.75% in the previous year due to industry-wide margin pressures.
Confidence: HIGH
What changedFilatex is pivoting from a traditional virgin polyester manufacturer to a circular materials platform with a significant ₹690 Cr investment in recycling and automation.
Why it mattersThe shift toward recycled polyester (ECOSIS) allows the company to target premium ESG-conscious brands like Decathlon and potentially decouple from the volatile commodity polyester cycle.
Q1FY27 Revenue: ₹1,145 CrQ1FY27 PAT Growth (YoY): 22.06%Total Capex Plan: ₹690 CrCapex vs Net Worth: ~45.8%ECOSIS Commissioning Date: Oct 2026EBITDA Margin (Q1FY27): 6.80%
📅 Short termThe 22% PAT growth is a positive signal, though the market will monitor the 9.65% YoY decline in EBITDA as margins remain under pressure.
📈 Long termThe successful commissioning of the recycling plant could significantly re-rate the business by adding high-margin, sustainable revenue streams by FY28.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Chinese dumping impacting product spreads
- Crude oil price volatility affecting PTA/MEG costs
- Execution risk of the first-of-its-kind chemical recycling plant
Key Highlights
Q1FY27 standalone revenue reached ₹1,145 Cr, a 16.22% growth over Q1FY26.
₹300 Cr allocated for ECOSIS recycling project (26,750 TPA) with expected annual EBITDA of ₹80-85 Cr.
₹235 Cr brownfield expansion to add 55,000 TPA of Polyester Filament Yarn (PFY) capacity.
Renewable energy share to increase from 26% to 55% via a ₹30 Cr investment, targeting ₹18-20 Cr annual savings.
Automation project (₹40 Cr) aimed at reducing manpower by 180 and saving ₹4 Cr annually.
👀 What to Watch
Watch for the execution of the ECOSIS recycling project by October 2026 and the stabilization of EBITDA margins, which are currently impacted by global dumping and raw material volatility.
Filatex Q1 FY27 PAT up 21% YoY to ₹49 Cr; ₹235 Cr Expansion on Track for Sept 2026
Filatex India reported a strong Q1 FY27 with revenue growing 9.1% YoY to ₹1,145.3 Cr and Net Profit rising 20.6% YoY to ₹49.1 Cr. The performance was supported by a 16.2% QoQ revenue jump and temporary relief from customs duty removal on key raw materials (PTA/MEG) effective until July 15, 2026. While the ₹235 Cr brownfield expansion is on schedule for September 2026, the high-margin textile recycling project (Ecosis) faces a delay, with commissioning pushed from Q2 to Q4 FY27 due to labor shortages.
Confidence: HIGH
What changedFilatex achieved a multi-quarter high in revenue and profit while extending the timeline for its recycling project by two quarters.
Why it mattersThe results demonstrate the company's ability to maintain margins (PAT margin ~4.3%) despite raw material volatility, while the upcoming capacity expansion (approx. 5.6% of TTM revenue in value) provides a clear growth path for FY27.
Revenue (Q1 FY27): ₹1,145.30 CrNet Profit (Q1 FY27): ₹49.14 CrExpansion Capex: ₹235 CrExpansion vs TTM Revenue: 5.64%EPS (Q1 FY27): ₹1.11Recycling Project Commissioning: Q4 FY27
📅 Short termThe stock may see positive momentum due to the earnings beat and sequential growth, though the recycling project delay is a minor negative.
📈 Long termStructural growth is tied to the successful ramp-up of the recycling platform and the 55,000 TPA capacity addition, which aims to improve the product mix toward value-added yarns.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk in the delayed recycling project
- Sensitivity to crude oil prices (PTA/MEG costs)
- Potential margin pressure after the expiry of customs duty relief on July 15, 2026
Key Highlights
Revenue from operations increased to ₹1,145.30 Cr, up 16.2% QoQ from ₹985.49 Cr.
Net Profit after tax rose to ₹49.14 Cr, compared to ₹40.73 Cr in the year-ago quarter.
Brownfield expansion of ~55,000 TPA (POY/FDY/DTY) with ₹235 Cr investment is targeted for September 2026 commissioning.
Recycling project (Ecosis Ltd) commissioning delayed to Q4 FY27 from the earlier target of Q2 FY27.
Renewable energy share targeted to increase from ~26% to ~55% by November 2026.
👀 What to Watch
Watch for the successful commissioning of the 55,000 TPA capacity in September 2026 and the commercial conversion of MoUs with Decathlon for recycled yarn, which are critical for margin expansion.
Filatex India Credit Ratings Reaffirmed at IND AA- for INR 9,980 Million Bank Facilities
India Ratings & Research (a Fitch Group Company) has reaffirmed the credit ratings for Filatex India Limited's bank facilities totaling INR 9,980 million. The rating for fund-based and non-fund based working capital facilities worth INR 7,980 million stands at IND AA-/Stable/IND A1+. An additional non-fund based facility of INR 2,000 million was reaffirmed at IND A1+. This reaffirmation reflects the company's stable financial profile and its ability to meet short and long-term debt obligations.
Key Highlights
Total bank facilities rated amount to INR 9,980 million
Fund-based working capital of INR 1,480 million reaffirmed at IND AA-/Stable/IND A1+
Non-fund based working capital of INR 6,500 million reaffirmed at IND AA-/Stable/IND A1+
Additional non-fund based facilities of INR 2,000 million reaffirmed at IND A1+
Ratings assigned by India Ratings & Research Private Limited
👀 What to Watch
The reaffirmation of credit ratings suggests that the company's creditworthiness remains intact with a stable outlook. Investors can maintain their current positions as there is no deterioration in the company's financial risk profile.
Filatex India Invests Rs 10 Crore in Subsidiary Ecosis Limited for Recycling Project
Filatex India Limited has infused an additional Rs 10.00 crore into its wholly-owned subsidiary, Ecosis Limited (formerly Texfil Private Limited), by acquiring 1,00,00,000 equity shares at Rs 10 each. This brings the company's total investment in the subsidiary to approximately Rs 65 crore. The capital will be primarily used to fund an ongoing Polyester Textiles Recycling Project, repay existing loans to the parent company, and meet working capital requirements. This move underscores Filatex's focus on sustainable textile manufacturing and internal capacity building.
Key Highlights
Acquisition of 1,00,00,000 equity shares of Ecosis Limited at Rs 10 per share
Total investment in the subsidiary reaches approximately Rs 65 crore to date
Funds allocated for a Polyester Textiles Recycling Project and repayment of inter-company loans
Transaction conducted on an arm's length basis as a related party transaction
👀 What to Watch
Investors should view this as a strategic move toward sustainability and vertical integration; monitor the progress of the recycling project for future revenue impact.
Filatex FY26 PAT Jumps 36.7% to ₹183.9 Cr; Outlines ₹690 Cr Expansion Plan
Filatex India delivered a strong full-year performance for FY26, with PAT rising 36.7% to ₹183.9 crores despite a marginal 2.1% decline in revenue to ₹4,160 crores. The company faced significant volatility in Q4 due to geopolitical tensions and crude oil price surges, leading to a cautious production outlook for Q1 FY27 with expected cuts of 20-25%. Management is aggressively pursuing a ₹690 crore CAPEX program focused on recycling and value-added products, which is projected to add ₹218-230 crores to annual EBITDA upon completion.
Key Highlights
FY26 EBITDA increased by 34.5% to ₹346.50 crores, driven by improved margins and operational efficiency.
Ongoing ₹690 crore CAPEX program includes brownfield expansions and a textile-to-textile recycling project.
Domestic PTA availability set to improve with 2.4 million tons of capacity being added by GAIL and IOCL by late 2026.
Q4 FY26 performance was dented by a ₹13 crore forex fluctuation and a 40-45% surge in petrochemical input costs.
Management expects a structural shift in margins as India moves toward zero custom duty for textile exports to the EU.
👀 What to Watch
Investors should remain cautious in the short term due to guided production cuts and input cost volatility, but the long-term outlook is supported by significant CAPEX-led growth and reduced import dependency.
Filatex India FY26 PAT Jumps 37% to ₹184 Cr; Unveils ₹690 Cr Circular Economy Capex
Filatex India reported a strong FY26 performance with PAT rising 36.66% YoY to ₹183.90 crore on revenues of ₹4,160.52 crore. The company is aggressively expanding into the circular economy through its ₹300 crore ECOSIS project, which targets high-margin textile-to-textile recycling. EBITDA margins expanded by 227 bps to 8.33%, reflecting a better product mix and operational efficiency. Management is implementing a total capex of ₹690 crore to future-proof operations through automation, renewable energy, and capacity expansion.
Key Highlights
FY26 PAT increased by 36.66% YoY to ₹183.90 Cr; EBITDA rose 34.47% to ₹346.52 Cr.
Investing ₹300 Cr in ECOSIS, India's first commercial textile-to-textile recycling platform with 26,750 TPA capacity.
Renewable energy share to jump from 26% to 55%, expected to generate annual savings of ₹18-20 Cr.
Brownfield PFY expansion of 55,000 TPA underway with a ₹235 Cr investment to boost high-value yarn output.
EBITDA margins improved by 227 bps YoY to 8.33% despite temporary raw material price volatility in late Q4.
👀 What to Watch
Investors should view the shift toward recycled polyester as a significant margin catalyst and monitor the ECOSIS project's commissioning scheduled for September 2026. The company's focus on ESG and cost-efficiency through renewable energy makes it a resilient long-term play in the synthetic fiber sector.
Filatex India FY26 Net Profit Jumps 36.6% to ₹183.9 Cr; Declares ₹0.30 Dividend
Filatex India reported a strong full-year performance for FY26 with standalone net profit rising 36.6% to ₹18,390 Lakhs, despite a marginal 2.1% dip in annual revenue to ₹4,16,052 Lakhs. The quarterly performance for Q4 was slightly subdued, with revenue falling 8.7% YoY to ₹98,549 Lakhs and profit down 2.7% to ₹4,025 Lakhs compared to the previous year's quarter. The company has recommended a final dividend of ₹0.30 per share. A significant highlight is the reduction in long-term borrowings from ₹8,442 Lakhs to ₹5,321 Lakhs, indicating a strengthening balance sheet.
Key Highlights
Full-year FY26 Net Profit increased by 36.6% YoY to ₹18,390 Lakhs from ₹13,457 Lakhs.
Annual Revenue from operations saw a slight decline of 2.1% YoY, settling at ₹4,16,052 Lakhs.
Board recommended a final dividend of ₹0.30 per equity share (30% of face value).
Long-term borrowings reduced by approximately 37% to ₹5,321 Lakhs as of March 31, 2026.
Earnings Per Share (EPS) improved to ₹4.14 for FY26 compared to ₹3.03 in the previous year.
👀 What to Watch
Investors should take note of the significant improvement in full-year profitability and the company's successful efforts in debt reduction. While quarterly revenue growth was soft, the improved EPS and dividend payout make it a stable hold for long-term portfolios.
Filatex Subsidiary Texfil Signs MoU with A&E Global for Recycled Polyester Trials
Filatex India's wholly-owned subsidiary, Texfil Private Limited, has entered into a strategic Memorandum of Understanding with American & Efird Global, LLC (A&E), a major US-based thread manufacturer. The collaboration focuses on conducting trials for textile-to-textile chemically recycled polyester yarn in various thread manufacturing applications. Texfil will supply the recycled yarn to A&E for testing across diverse industries including apparel, automotive, and medical supplies. This partnership positions Filatex to tap into the growing global demand for sustainable and circular textile solutions.
Key Highlights
Texfil Private Limited signed an MoU with American & Efird Global, LLC on February 25, 2026.
Partnership focuses on trials for high-quality textile-to-textile chemically recycled polyester.
Texfil will supply recycled yarn for testing in apparel, automotive, home furnishings, and medical sectors.
A&E is one of the world's largest manufacturers and distributors of premium industrial and consumer sewing threads.
👀 What to Watch
Investors should view this as a positive strategic move into the sustainable textile segment; monitor for successful trial outcomes and subsequent commercial orders. The partnership with a global leader like A&E validates Filatex's technical capabilities in chemical recycling.
Filatex Q3 FY26 PAT Up 16.3% QoQ to ₹55.33 Cr; 9M Profits Surpass Full FY25
Filatex India reported a 16.3% QoQ increase in PAT to ₹55.33 crores for Q3 FY26, despite a marginal dip in revenue to ₹1,050 crores. The company's 9M FY26 EBITDA and PAT have already surpassed the totals achieved in the entire previous fiscal year. Management highlighted a ₹690 crore capex program, though the renewable energy project with Torrent is delayed until October/November 2026. While Q4 margins may face pressure from Chinese imports, the long-term outlook is bolstered by favorable US tariffs and the EU Free Trade Agreement.
Key Highlights
Q3 FY26 PAT grew 16.3% QoQ to ₹55.33 crores; EBITDA rose 24.16% YoY to ₹93.58 crores.
9M FY26 performance already exceeds the full-year EBITDA and PAT of FY25.
Executing a ₹690 crore capex plan focused on capacity, recycling, and automation.
US tariff structure favors India (18%) over China (34%), providing a 16% competitive edge.
Renewable energy project delayed to Oct-Nov 2026; recycling plant expected to reach full capacity in 3-6 months post-startup.
👀 What to Watch
Investors should monitor the ramp-up of the new recycling plant and the impact of Chinese imports on Q4 margins. The structural advantages in export markets and strong 9M performance provide a positive medium-term outlook.
Filatex Reports 54% PAT Growth in 9M FY26; Outlines ₹690 Cr Vision 2028 Capex
Filatex India delivered a strong 9M FY26 performance with Profit After Tax (PAT) surging 54.15% YoY to ₹143.65 Cr, despite flat revenue of ₹3,175.03 Cr. The company is undergoing a major transformation with a ₹690 Cr capex plan focused on circular recycling (ECOSIS), capacity expansion, and renewable energy. A significant milestone includes an MoU with Decathlon India for recycled polyester adoption. Management expects structural tailwinds from the India-EU FTA and reduced US tariffs to boost export competitiveness.
Key Highlights
9M FY26 EBITDA grew 43.02% YoY to ₹260.27 Cr with margins expanding to 8.20% from 5.74%.
₹300 Cr ECOSIS greenfield project for textile-to-textile recycling targeting 26,750 TPA by Sep 2026.
Brownfield PFY expansion of 55,000 TPA underway with a ₹235 Cr investment to shift toward higher-value yarns.
Renewable energy share to increase from 26% to 55%, expected to save ₹18-20 Cr annually.
MoU signed with Decathlon India for the Ecosis platform, validating the commercial potential of recycled materials.
👀 What to Watch
Investors should focus on the successful commissioning of the ECOSIS project, which offers significantly higher margins (30-35%) than traditional yarn. The company's shift toward sustainability and value-added products makes it a strong contender in the evolving global textile supply chain.
Filatex India Q3 Net Profit Rises 16.7% YoY to ₹55.34 Cr Despite Flat Revenue
Filatex India reported a standalone net profit of ₹55.34 crore for Q3 FY26, a 16.7% increase from ₹47.43 crore in the same period last year. While revenue from operations saw a slight decline to ₹1,049.70 crore from ₹1,068.69 crore YoY, the company demonstrated significant margin improvement. For the nine-month period ending December 2025, net profit surged by 54.1% to ₹143.65 crore. Additionally, the company strengthened its subsidiary, Texfil Private Limited, with a further investment of ₹20 crore during the quarter.
Key Highlights
Net Profit for Q3 FY26 grew 16.7% YoY to ₹55.34 crore versus ₹47.43 crore in Q3 FY25.
9M FY26 Net Profit increased 54.1% to ₹143.65 crore compared to ₹93.19 crore in the previous year.
Revenue from operations remained nearly flat at ₹1,049.70 crore for the quarter.
Investment in wholly-owned subsidiary Texfil Private Limited increased by ₹20 crore via rights issue.
Earnings Per Share (EPS) for the quarter improved to ₹1.25 from ₹1.07 YoY.
👀 What to Watch
Investors should note the strong bottom-line growth and margin expansion despite stagnant revenue, suggesting improved operational efficiencies. Monitor the scaling of the Texfil subsidiary as it could be a future growth driver.
Filatex India Provides ₹200 Cr Corporate Guarantee for Subsidiary's Recycling Project
Filatex India Limited has provided a corporate guarantee of ₹200 crores to Punjab National Bank to secure a term loan for its wholly-owned subsidiary, Texfil Private Limited. The loan will fund a new Polyester Textile Recycling Project with a total estimated cost of ₹300 crores. This project is designed to have an annual production capacity of 26,250 MT, focusing on sustainable textile manufacturing. While the guarantee increases the parent company's contingent liabilities, it enables a significant capacity expansion for the group.
Key Highlights
Corporate guarantee of ₹200 crores issued to Punjab National Bank for subsidiary Texfil Private Limited.
Loan to fund a Polyester Textile Recycling Project with an annual capacity of 26,250 MT.
Total project cost is estimated at ₹300 crores, indicating significant capital expenditure.
The transaction is conducted at arm's length with no direct interest from promoters or directors.
Guarantee will be reflected as a contingent liability in the consolidated financial statements.
👀 What to Watch
Investors should view this as a positive step towards capacity expansion and sustainability; however, monitor the project's execution timeline and the impact on consolidated debt-to-equity ratios.
Filatex India Invests Rs 15 Crore in Subsidiary Texfil for Recycling Project
Filatex India Limited has invested Rs 15.00 crore in its wholly-owned subsidiary, Texfil Private Limited, by acquiring 1.5 crore equity shares through a rights issue. The shares were acquired at a price of Rs 10 each, including a premium over the face value of Rs 1. The primary objective of this capital infusion is to finance an ongoing Polyester Textiles Recycling Project and manage working capital requirements. Additionally, a portion of the funds will be used by the subsidiary to repay existing loans owed to the parent company.
Key Highlights
Acquisition of 1,50,00,000 equity shares of Texfil Private Limited at Rs 10 per share.
Total investment outlay of Rs 15.00 crore into the wholly-owned subsidiary.
Funds earmarked for a strategic Polyester Textiles Recycling Project and working capital.
Transaction includes the repayment of existing loans taken by Texfil from Filatex India.
The investment is a related party transaction conducted on an arm's length basis.
👀 What to Watch
Investors should view this as a positive step toward sustainability and vertical integration in recycling. Monitor the execution timelines of the recycling project as it could enhance the company's ESG profile and long-term profitability.
Filatex partners with Decathlon for recycled polyester in sports apparel
Filatex India's subsidiary, Texfil Private Limited, has signed an MoU with Indeca Sporting Goods Pvt Ltd (Decathlon Group) to collaborate on using high-quality recycled polyester in sports apparel. Texfil's Ecosis™ technology, which recycles polyester using a chemical process, will be trialed by Decathlon. Texfil operates an 800 kg/day pilot plant and is setting up a 26,750 MTPA commercial facility expected to be commissioned in September 2026. This partnership aims to integrate sustainable materials into Decathlon's products and reduce reliance on virgin resources.
Key Highlights
Texfil operates an 800 kg/day pilot plant.
Commercial facility with a capacity of 26,750 MTPA is expected by September 2026.
MoU signed on December 11th, 2025 with Indeca Sporting Goods Pvt Ltd.
👀 What to Watch
Investors should monitor the progress of the commercial facility setup and the integration of Ecosis™ recycled polyester into Decathlon's product line, as this partnership could enhance Filatex's sustainability profile and market reach.
Filatex India Wins GST Case; Gujarat HC Quashes Tax Demands Worth ₹166.79 Crores
Filatex India Limited has received a favorable judgment from the Gujarat High Court, which quashed two major GST Show Cause Notices. The notices sought to recover previously sanctioned GST refunds totaling ₹166.79 Crores related to the Inverted Duty Structure for the period January 2018 to February 2022. This ruling effectively removes a significant financial overhang and potential cash outflow risk for the company.
Key Highlights
Gujarat High Court quashed GST Show Cause Notices totaling ₹166.79 Crores.
The first notice involved a recovery claim of ₹74.59 Crores for the period Jan 2018 to Oct 2019.
The second notice involved a recovery claim of ₹92.20 Crores for the period Nov 2019 to Feb 2022.
The dispute related to GST refund claims under Rule 89(5) concerning the Inverted Duty Structure.
The final judgment was delivered on November 28, 2025, with certified copies received on December 4, 2025.
👀 What to Watch
Investors should view this as a significant positive development that eliminates a major legal and financial risk. While the tax department may still appeal to the Supreme Court, the current ruling strengthens the company's financial position.
