JSW Infra falls 2% as unit receives GST notice; stock drops 8% in 4 days

JSW Infra shares fell 2 per cent after its unit received a show cause notice from the GST authorities, alleging tax contraventions amounting to ₹96.58 crore

Shares of JSW Infrastructure fell over 2 per cent on Tuesday after its unit received a show cause notice (SCN) from the GST authorities, alleging tax contraventions amounting to ₹96.58 crore. 

 

The company's stock fell as much as 2.53 per cent during the day to ₹314.6 per share, the biggest intraday fall since September 25 this year. The stock pared losses to trade 2.3 per cent lower at ₹315.5 apiece, compared to a 0.01 per cent advance in Nifty 50 as of 11:55 AM. 

 

Shares of the company fell for the fourth straight session, falling over 8 per cent in the process. The counter has fallen 1.5 per cent this year, compared to a 4.2 per cent advance in the benchmark Nifty 50. JSW Infra has a total market capitalisation of ₹66,024.05 crore.

JSW Infra unit received GST notice

Ennore Coal Terminal Pvt. Ltd., a subsidiary of JSW Infra, received a Show Cause Notice (SCN) from the Joint Commissioner, Office of the Commissioner of GST and Central Excise, Audit-II Commissionerate, Chennai, according to an exchange filing. 

 

The notice alleges contraventions of the Central Goods and Services Tax Act, 2017, and Tamil Nadu GST Act, 2017, for the period April 2019 to March 2024, the company said. The SCN requires the company to explain within 30 days why GST of ₹96.58 crore, the statement said. 

 

The company said the matter has no material impact on its financials, operations, or other activities. It added that it has strong legal and factual grounds and is fully prepared to contest the SCN if authorities initiate further proceedings.

 

Earlier this month, JSW Infra said it signed a 30-year concession agreement with Syama Prasad Mookerjee Port Authority, Kolkata, for a major berth modernisation project at the city’s Netaji Subhash Dock.  CATCH STOCK MARKET LIVE UPDATES TODAY

JSW Infrastructure Q1FY26 results

In the April-June quarter of fiscal 2026 (Q1FY26), the company reported a consolidated net profit of ₹389.57 crore, up 31 per cent from ₹296.55 crore in the year-ago quarter. The company's revenue from operations grew 21 per cent year-on-year (Y-o-Y) to ₹1,223.85 crore from ₹1,009.77 crore in the corresponding quarter last year.  Its earnings before interest, tax, depreciation and amortisation (Ebitda) came in at ₹581 crore, an increase of 13 per cent Y-o-Y.