Mahendra Wadhwani-Backed Explosives Company Receives Favourable CESTAT Order; No Further Liability On Rs 13.75 Crore Penalty

The Indian equity markets traded lower on Tuesday, with the benchmark Nifty 50 index declining 1.45 per cent to 23,469.55 during the session. Despite weakness in the broader market, select industrial and explosives sector stocks remained in focus. In this segment, Keltech Energies remained in focus after the company received a favourable order from the Customs, Excise and Service Tax Appellate Tribunal (CESTAT). On Tuesday, Keltech Energies share price declined 0.83 per cent to Rs 4,650.00.

Keltech Energies Regulatory Update

Keltech Energies informed exchanges that it has received an order passed by the Hon’ble CESTAT in relation to the earlier penalty notice imposed by the Commissioner of Customs regarding import of Ammonium Nitrate.

According to the company, the Hon’ble CESTAT has allowed the appeal filed by Keltech Energies and has set aside the order passed by the lower authority.

The company further stated that the order is favourable and there will be no further liability arising on account of the said matter. Earlier, the penalty imposed by customs authorities stood at Rs 13.75 crore.

Keltech Energies Shareholding Pattern

As per the latest March 2026 shareholding pattern, promoters held 54.33 per cent stake in Keltech Energies, unchanged compared to the previous quarter. Domestic Institutional Investors held 0.14 per cent stake in the company, while public shareholding stood at 45.52 per cent.

Among public shareholders, Mahendra Girdharilal Wadhwani held a 1.50 per cent stake in Keltech Energies as of March 2026.

Keltech Energies Share Price Performance

Keltech Energies shares have delivered strong returns across multiple time periods. The stock has gained 19.29 per cent over the past one month, while it has risen 6.82 per cent during the last six months. On a one-year basis, Keltech Energies share price has surged 39.75 per cent.

The company currently has a market capitalisation of Rs 465 crore. Keltech Energies stock touched a 52-week high of Rs 5,198.00, while the 52-week low stood at Rs 2,900.00.

About Keltech Energies

Keltech Energies Limited is engaged in manufacturing industrial explosives and perlite products catering to mining, infrastructure and Construction industries. The company also operates in blast-related services and expanded perlite solutions. Keltech Energies is part of the Chowgule Group and serves domestic as well as international industrial markets through its diversified explosives and industrial products portfolio.

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Disclaimer: This article is for informational purposes only and not investment advice.