Maharashtra govt issued demand notice for recovering of excise duty worth Rs. 116 Cr.
If we notice in AR23, the government grants are supposed for wine produced by blending grapes procured within the state of Maharashtra.
The contention by govt is on the blends on grapes procured from outside of Maharashtra.
The company is contenting this notice. If the WIPS scheme is withdrawn, the impact on profitability and net profit margin will be severe.
Disc: Less than 3% of portfolio
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