Pidilite Industries Limited has received an Order dated 07th June, 2024, which was received on 14th June, 2024 through post, from the Commissioner of Customs imposing a fine of INR 42,000,000/- and penalty of INR 127,708,366 /- under applicable provisions of the Customs Act, 1962. The Customs department has passed an Order for the levy of fine and penalty under Section 125(1), Section 114A and Section 114AA of the Customs Act, 1962 towards exemption benefit availed under notification no.57/2017. Against this Order, the Company intends to file for legal remedy by way of an appeal.

Based on the Company's assessment, the Company reasonably expects a favorable outcome at the appellate level. There is no material impact on the financials, operations or other activities of the Company. The Company, upon examining the Order, is hereby filing the intimation at the earliest opportunity.