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UNO Minda Limited ( (IN:UNOMINDA) ) just unveiled an update.
UNO Minda subsidiary Minda Westport Technologies has received an order from the Principal Commissioner of Customs, New Delhi, over alleged misclassification of imported components used in manufacturing parts for vehicle CNG systems. The order demands payment of about Rs 25.57 crore in tax, an equivalent penalty, and applicable interest.
The subsidiary disputes the customs authority’s findings and plans to challenge the order through an appeal, signalling an ongoing tax controversy rather than an accepted liability. UNO Minda has stated that it does not expect any material impact on its consolidated financial, operational, or other activities from this development, offering reassurance to investors and other stakeholders.
More about UNO Minda Limited
UNO Minda Limited is an Indian automotive components manufacturer serving vehicle OEMs with a range of systems and parts. Through subsidiaries such as Minda Westport Technologies Limited, the group is involved in technologies for vehicle CNG systems and related components, supporting both domestic and international automotive markets.
Average Trading Volume: 37,875
Technical Sentiment Signal: Buy
Current Market Cap: 628B INR
Learn more about UNOMINDA stock on TipRanks’ Stock Analysis page.