Vodafone Idea has received two GST penalty notices that together total more than ₹83 crore, but its stock price has climbed about 100% since August.
GST penalty orders
The tax office in Mumbai ordered a penalty of ₹79.56 crore for alleged extra fees on licences and spectrum use in FY 2018‑19. The tax office in Bengaluru ordered a penalty of ₹3.58 crore for what it says were under‑paid taxes and excess input‑tax credit claims from FY 2018‑19 to FY 2022‑23.
Company's response
Vodafone Idea says the penalties only affect the tax demand, interest and fines. It does not agree with the orders and plans to challenge them in court.
Share price performance
Despite the tax issues, the shares have risen from their August lows to around ₹12 each. Positive sentiment from better‑than‑expected September‑quarter results and talk of future tariff hikes have helped the rally.
Recent financial results
- Net loss for the September quarter (Q2 FY26): ₹5,524.2 crore, down from ₹7,176 crore a year earlier.
- Loss narrowed sequentially from ₹6,608 crore in the June quarter.
Capital raising
Last week the company’s subsidiary raised ₹3,300 crore by issuing secured non‑convertible debentures (NCDs). The funds are meant to support capital spending and business growth.
What this means for investors
The penalties add a financial hit, but the stock’s upward trend suggests investors are focusing on the company’s recovery and growth plans. Keep an eye on the legal outcome and any further regulatory news.
Remember, this is perspective, not prediction. Do your own research or consult a certified expert before making any investment decisions.