Pidilite Subsidiary Nina Percept Faces Rs 1.97 Crore GST Penalty

The Nina Percept Pvt Ltd (subsidiary company of Pidilite), known for being a specialised contractor that provides turnkey waterproofing and building envelope protection solutions for large-scale civil engineering projects in India, received a penalty order worth Rs 1.97 Crore.

This disclosure was made by Pidilite Industries Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Through which the company was informed about the receipt of the penalty order on December 4, 2025.

The company added that the order was passed by the Office of Assistant Commissioner, CGST and Central Excise, Division-III, Noida, levying a penalty of Rs 19,711,453 under the CGST Act for the Financial year 2018-19 to 2020-21.

However, the company doesn’t agree with the order and is currently looking into the decision and deciding what to do next. It may appeal to the highest legal authority allowed by law. The company also says that this decision doesn’t have any significant effect on its money, day-to-day operations, or other business activities.