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Suumaya Corporation Ltd clarifies on GST related issue
Posted On : 2021-11-29 11:25:13( TIMEZONE : IST )
Suumaya Corporation Ltd (formerly known as Rangoli Tradecomm Ltd - BSE-SME listed company with BSE Code: 543274) is engaged in the trading business of Polymers, Textile products, Metals - ferrous & non-ferrous, manganese & various commodities. The company is redefining Supply-Chain business with its unique value preposition for its stakeholders.
The company has filed a writ petition to Bombay High Court against the Goods and Services Tax (GST) Authorities and challenged the constitutional validity of the rights of GST department enforced in the inquiry carried out against one of its client.
The company does not foresee any material impact on the Company's current or future business plans. Further, as an organization, SCL continues to conform to the highest standards of corporate governance as demonstrated in the past.
This clarification is being provided in order to put to rest any speculative or baseless information circulating without the endorsement of the Company.
Financial Performance:
During the first half of the financial year FY2021-22, the company has posted total revenues of INR 3,335 crores. EBIDTA during the first half stood at INR 153 crores and PAT at INR 113 crores. The company has registered robust all-round performance on all parameters - Revenues, Margins and Profitability despite challenging economic environment on account of spread of Covid-19 pandemic globally.
The company has built a unique model of Supply Chain across commodities and is evolving its business to strengthen its position in offering Supply Chain solutions to its customers.
Shares of Suumaya Corporation Ltd was last trading in BSE at Rs. 155.60 as compared to the previous close of Rs. 163.75. The total number of shares traded during the day was 2700 in over 5 trades.
The stock hit an intraday high of Rs. 155.60 and intraday low of 155.60. The net turnover during the day was Rs. 420120.00.
