Bharat Forge gets IGST demand order worth ₹1.54 crore; here’s what you should know

As per the exchange filing, the order confirms an IGST demand of ₹1.54 crore, along with an equivalent penalty, applicable interest and a fine of ₹1 crore under the provisions of the Customs Act, 1962.

“The Company is exploring to challenge the Order passed by Authority. However, there is no material impact of the same on financial, operations or other activities of the Company,” the company said in an exchange filing.

Earlier, on October 7, the company announced that the Pune District Court has dismissed its appeal against the Pune Cantonment Board (PCB) in connection with an assessment dispute.

The court order upheld the PCB’s assessment notice and related bills for FY 2023-24 and FY 2024-25. Further, the company clarified that the demanded amount has already been settled and the order will have no impact on its financial or operational activities.

On October 1, Bharat Forge’s non-executive Independent Director, Ravi Kapoor, resigned with immediate effect, citing other professional commitments and stepped down from the Audit and ESG Committees.

Bharat Forge share price

At close, shares of Bharat Forge settled 0.53% higher at ₹1,226.50 apiece on the National Stock Exchange (NSE). However, the announcement was made after market hours.

In the past five trading sessions, Bharat Forge’s shares have inched up 0.17%, but slipped 0.86% over the past month. Over a six-month period, the stock has gained 14.30%, though it remains down 5.65% on a year-to-date basis.

The company’s shares touched a 52-week high of ₹1,526.90 on October 10, 2024, and a 52-week low of ₹919.10 on April 7, 2025. As of October 13, Bharat Forge’s market capitalisation was ₹58,637.57 crore.