Pidilite Industries Limited Announces Penalty from Assistant Commissioner Pimpri Chinchwad Municipal Corporation, Maharashtra
October 11, 2024 at 06:54 am EDT
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Pidilite Industries Limited has received an Order dated 30th September, 2024 vide email dated 2nd October, 2024 issued by the Assistant Commissioner Pimpri Chinchwad Municipal Corporation, Maharashtra imposing a penalty of INR 20,000 in relation to the Local Body Tax assessment conducted for the years 2014-15 and 2015-16 under applicable provisions of the Maharashtra Municipal Corporation Act, 1949. Upon examining the Order and ascertaining full fact, the intimation is being filed at the earliest opportunity. Based on the Company's assessment, the Company reasonably expects a favorable outcome at the appellate level.
There is no material impact on financials, operations or other activities of the Company.
Pidilite Industries Limited is an India-based manufacturer of adhesives and sealants, construction chemicals, craftsmen products, DIY (Do-It-Yourself) products, and polymer emulsions. The Company, together with its subsidiaries, is focused on consumer and industrial specialty chemicals. The Company's segments include Consumer and Bazaar (C&B), Business to Business (B2B), and Others. The C&B segment covers the sale of products mainly to end consumers, which are retail users such as carpenters, painters, plumbers, mechanics, households, students and offices, among others. The Company's products include adhesives, sealants, art and craft materials and construction and paint chemicals. The B2B segment includes industrial products such as adhesives, synthetic resins, organic pigments, pigment preparations, construction chemicals (projects) and surfactants, among others. It caters to various industries, such as packaging, textiles, joineries, printing inks, paper and leather, among others.
PIDILITE INDUSTRIES LIMITED 
