We would like to inform you that recently South African Government has imposed 15% customs duty on imports of Grinding Media from all countries except European Union and UK and under FTAs as a part of their internal policy reforms.
Though it is not specific to our Company or Country as a prudent practice we would like to inform the Stock Exchanges about its likely impact on the Companys business pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015.
Company through its overseas subsidiary VEGA Steel Industries (RSA) Pty Ltd has sold approx. 4200 MT of Grinding Media in South Africa during current Financial Year.
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