Fujiyama Power Systems Receives ₹13.97 Crore Customs Notice

NSE/BSE Codes: BSE Scrip Code: 544613

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory filing to intimate the receipt of a Show Cause Notice (SCN) from the Office of Assistant Commissioner of Customs, Noida Customs Commissionerate, for recovery of differential customs duty. This is a disclosure made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Involved Parties / Authorities:

• Issuing Authority: The Office of Assistant Commissioner of Customs, Noida Customs Commissionerate
• Recipient: Fujiyama Power Systems Limited (The Company)
• Appellate Authority: The Commissioner/Principal Commissioner, Container Inland Depot, Dadri, Noida (mentioned as the authority to which a response to the SCN must be submitted)

Date / Timeline of Event:

• Date of SCN: June 17, 2026
• Time of Receipt: 18:49 hrs (after office working hours) on June 17, 2026, via email.
• Date of Intimation to Exchange: June 18, 2026
• Response Deadline: The Company is required to show cause within 30 days of receipt of the SCN.

Brief Description of Outcome / Dispute:

The Customs authority has issued a show cause notice challenging the company's declared classification of imported goods under the Customs Tariff. The authority proposes to re-classify the goods under Customs Tariff Item (CTI) 85044090, which would deny the company the benefit of certain exemption notifications and result in a higher duty liability.

Impact of Outcome:

Financial Impact:

• The differential Customs duty demanded is ₹13,96,77,362 (Rupees Thirteen Crores Ninety-Six Lakhs Seventy-Seven Thousand Three Hundred Sixty-Two Only), approximately ₹13.97 Crores.
• The notice also demands recovery of this amount along with applicable interest under Section 28AA of the Customs Act, 1962.
• The Company states it has already made an appropriate provision for this amount in its financial statements in accordance with applicable Indian accounting standards. Therefore, no additional material impact on the financial position is presently envisaged.

Operational / Business / Strategic Impact:

• The notice threatens to hold the imported goods (which have already been cleared and are not physically available) liable for confiscation under Section 111(m) of the Customs Act, 1962.
• The notice also threatens to impose penalties on the Company.
• The dispute may involve ongoing engagement with customs authorities and legal processes, requiring management time and resources.

Other Implications:

The outcome of the appellate process could set a precedent for the company's future imports and customs classifications.

Next Steps / Required Actions:

• The Company is required to submit a written response (show cause) to the Commissioner/Principal Commissioner, Container Inland Depot, Dadri, Noida, within 30 days of receiving the notice.
• The Company does not concur with the findings in the SCN and believes it has valid grounds to challenge it.
• The Company intends to avail appropriate appellate remedies and proposes to file an appeal before the competent appellate authority within the prescribed timelines.