Shares of Ceinsys Tech Ltd. are in focus after the company announced a key milestone in its Wainganga-Nal Ganga River-Linking DPR Project, while also receiving a sales tax demand notice of ₹15.51 crore from the Maharashtra Sales Tax Department.
Major Milestone in Water Management Project
Ceinsys Tech Ltd., a leading technology-driven infrastructure solutions provider, has commenced aerial LiDAR survey operations for its prestigious Wainganga-Nal Ganga River-Linking DPR project, which is being developed by the Vidarbha Irrigation Development Corporation (VIDC). The project is a critical step towards enhancing water distribution across multiple districts in Maharashtra, including Nagpur, Wardha, Yavatmal, Amravati, Akola, Washim, and Buldhana.
The survey, inaugurated in the presence of key government officials and company executives, marks a major milestone in the engineering and planning process for the river-linking project. Once completed, the project is expected to significantly improve irrigation facilities and address long-term water shortages in the Vidarbha region.
Sales Tax Demand Notice
While achieving a key operational milestone, Ceinsys Tech also disclosed that it has received a sales tax demand notice from the Maharashtra Sales Tax Department, amounting to ₹15.51 crore, which includes both the principal tax amount and interest. The demand pertains to assessment years 2014-15, 2015-16, and 2017-18.
The company clarified that the tax demand arises from orders issued against first appeal cases under the Maharashtra Value Added Tax Act, 2002, and the Central Sales Tax Act, 1956. Ceinsys Tech has stated that it is disputing the demand and is considering legal options to challenge the notice.
Stock Market Impact
The developments have put Ceinsys Tech Ltd. in the spotlight, as investors assess the implications of both the strategic project win and the pending tax liability. The company’s involvement in large-scale infrastructure and water management projects is seen as a growth driver, while the tax notice could create some near-term financial uncertainty.
With Ceinsys Tech actively expanding its engineering, LiDAR, and GIS capabilities, the company’s long-term outlook remains positive despite regulatory challenges. Investors will be closely monitoring updates on the sales tax dispute resolution and further progress in the river-linking project.
