HP Adhesives Receives Order from Customs Authority Regarding Anti-Dumping Duty
HP Adhesives Limited received an Order-In-Original from the Joint Commissioner of Customs, imposing ₹28,70,934/- in Anti-Dumping Duty, an equal penalty, and an ₹8,50,000/- redemption fine. The company plans to appeal the order, stating it has no material operational impact.
The order involves significant financial implications including duty, penalty, and redemption fine, which could impact the company's financials if not successfully contested. However, the company's intention to appeal and its statement of no material operational impact moderate the impact level.
The company has received an order from the Customs authority regarding anti-dumping duty. While the order imposes financial liabilities, the company intends to contest it and states there is no material impact on operations, making the sentiment neutral.
HP Adhesives Limited has received an Order-In-Original dated 18th September, 2026, from the Joint Commissioner of Customs (NS – I), Nhava Sheva, concerning anti-dumping duty on certain imports of PTFE Thread Seal Tape. This order follows a Show Cause Notice dated 23rd September, 2025, for alleged customs duty dues totaling ₹28,70,934/- along with applicable interest.
The company responded to the notice on 29th October, 2025, and the matter was adjudicated, leading to the current order. The order involves an Anti-Dumping Duty of ₹28,70,934/-, a penalty of ₹28,70,934/- under the Customs Act, 1962, and a redemption fine of ₹8,50,000/-
HP Adhesives Limited plans to contest this order before the appellate authority within the stipulated time. The company states that the order does not have any material impact on its operations. The total financial implications, including duty, interest, penalty, and redemption fine, will be accounted for as contingent liabilities in the company's financial statements.
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