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“We want to inform you that the Assistant Commissioner of State Tax, Mumbai has initiated a search/inspection on 6 th November 2024 on the head workplace of the Firm in Pune and at one among its warehouses situated at Bhamboli in Maharashtra. The Firm is cooperating with the officers and is responding to all of the clarifications and particulars sought by them,” mentioned the corporate in an alternate submitting.
The corporate has additionally assured that the investigation has not impacted its operations and the conventional enterprise actions are operating as regular.
The inspection was initiated by the GST division on November 6 and the officers haven’t but shared any particulars with the corporate on the subject of the violations dedicated or alleged to have been dedicated by FirstCry, based on the submitting shared with the inventory exchanges.
No additional particulars on the matter are at present out there.Additionally learn: M&M Q2 Outcomes: PAT rises 13% YoY to Rs 3,841 cr, beats estimatesIn one other submitting to the exchanges as we speak, the corporate has knowledgeable that its board assembly will happen on November 14 whereby they’ll contemplate and approve their second quarter outcomes.“That is to tell you {that a} assembly of Board of Administrators of the Firm is scheduled to be held on Thursday, November 14, 2024, inter alia, to contemplate and approve the Unaudited Monetary Outcomes (Standalone and Consolidated) of the Firm for the quarter and half yr ended September 30, 2024,” the submitting mentioned.Within the final one month, the shares of FirsCry have fallen by 4.2% and by 6% within the final 2 weeks, based on the BSE analytics.
(Disclaimer: Suggestions, strategies, views and opinions given by the consultants are their very own. These don’t symbolize the views of The Financial Instances)
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