Aaron Industries Limited announced that it is in receipt of an order dated April 16, 2024, passed by the State Tax Officer, Commissionerate of Taxes, Government of Gujrat, India. Nature and details of the action(s) taken, initiated or order(s) passed: Intimation of tax ascertained as being payable under Section 73(5) of the GGST/CGST Act, 2017. Details of the violation(s)/ontravention(s) committed or alleged to be committed: The order passed under Section 73 of GGST Act, 2017 and CGST Act 2017 for differential tax liability/Excess Input tax credit (ITC) for the Financial Year 2019-20 with applicable interest and penalty of INR 14,647,370.

Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: The claim is not maintainable against Company. The Company will file a reply to the above order before the appropriate authority within the prescribed time period. There is no material impact on the financial, operation or other activities of the Company due to the intimation of tax demanded vide the above Order.