Pidilite Industries Limited, India’s major player in industrial adhesives, pigments, bonding, waterproofing solutions, paints, textile and leather chemicals, announced on Monday that it recently received a penalty of around ₹42 lakh from the tax officials.
According to the maker of Fevicol, the company received Orders-in-Appeal dated March 5, 2026, on the GST Portal from Deputy Commissioner of State Tax, Appeal, Mazgaon Division Nodal-04, Mumbai, imposing a penalty of ₹26,40,843 for FY2019-20 and ₹15,90,724 for FY2020-21 under applicable provisions of the Central Goods and Services Tax Act.
As of noon, Pidilite said that the "orders are appealable" and that it was "reviewing the orders and evaluating the next steps in the matter".
"The company will make an assessment to exercise its right to appeal to the highest authority as permitted in law. There is no material impact on financials, operations or other activities of the company," assured Pidilite in a regulatory statement to the stock exchanges.
Ahead of afternoon trading, Pidilite stock was down more than 4 per cent intraday.
