Supreme Court denies Peñoles tax relief as Industrias Peñoles stock holds EUR 45.60

Published on 10/13/2026 at 11:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 revenue hit USD 2.89 billion in the second quarter of 2026. Industrias Peñoles stock was EUR 45.60 on October 13, 2026, bid EUR 44.80.

The Mexican Supreme Court denied Peñoles access to a diesel tax incentive on October 3, 2026, in a seven-vote ruling.
Industrias Peñoles reported USD 2.89 billion in revenue and USD 642.01 million in net income for the second quarter of 2026.
The stock was at EUR 45.60 at Lang & Schwarz on October 13, 2026, with a EUR 44.80 bid and EUR 46.40 ask.
Peñoles shares trade on the BMV and belong to Mexico's IPC index.

Industrias Peñoles, MXP554091415, Illustration mit AI erstellt.

Industrias Peñoles (MXP554091415) was at EUR 45.60 at Lang & Schwarz on October 13, 2026 at 11:43 a.m. CEST, while a Mexican Supreme Court ruling denied the mining group access to a diesel tax incentive. El Fondo reported the decision on October 3, 2026.

Seven votes shaped the ruling

The Supreme Court of Justice of the Nation backed Rule 9.16 of the 2019 fiscal resolution by seven votes to one. The rule sets conditions for companies seeking diesel and biodiesel tax incentives, including a mining concession, specified income and payment of mining duties.

The case affects Peñoles and several subsidiaries because the group had challenged the rule after seeking access to incentives for fiscal year 2019. The court treated the requirements as compliance checks rather than an unlawful change to the incentive framework.

What does the ruling change?

The legal dispute includes a minimum prior-year income requirement of MXN 50 million, a figure cited in the court coverage. For Peñoles, the decision adds a clearly defined tax constraint to the operating picture alongside metals prices, production costs and exchange-rate exposure.

Second-quarter numbers set the scale

SilverTrade lists USD 2.89 billion of revenue and USD 642.01 million of net income for the second quarter of 2026, with diluted earnings per share of USD 1.62. Revenue was down 16.19 percent from USD 3.44 billion in the first quarter, while net income declined 3.46 percent from USD 665.03 million.

The same filing-based summary shows USD 3.38 billion of cash and equivalents at June 30, 2026, and USD 1.21 billion of operating cash flow for the second quarter. Those figures give the tax case a financial frame: the ruling concerns a specific incentive, while the balance sheet and cash generation describe the group's broader capacity.

Peñoles remains an IPC constituent

According to Industrias Peñoles, the shares have traded on the Mexican Stock Exchange since 1968 and belong to the Price and Quotation Index. The company lists 397,475,747 shares outstanding and reported a USD 0.38 dividend per share paid on May 14, 2026.

Stock price stays in trading

At Lang & Schwarz, the stock was trading at EUR 45.60 on October 13, 2026 at 11:43 a.m. CEST, between the EUR 44.80 bid and EUR 46.40 ask. The further course of trading is shown by the continuously updated real-time quote of Industrias Peñoles stock.