Announced Wed, 1 Jul · 19:04 IST
US subsidiary gets tariff refund of about Rs. 19.97 crore from US Customs
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ADFFOODS · price
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Price reaction · full curve 14 horizons · vs prior close
+3.5%1-day move
₹309.00
prior close
₹315.30
base price
After-mkt
timing
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+6.7+8.7+8.2+9.6+3.5-0.6+0.3+0.6+3.0+3.8-3.7———
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AI summary
ADF Foods wholly owned US subsidiary, ADF Holdings (USA) Ltd, has received a tariff refund of US$ 2.1 million (about Rs. 19.97 crore) from US Customs and Border Protection. The refund follows the US Supreme Court directive to the US Government to return excess tariff collected from importers. The company said it will take suitable steps as applicable.
Likely market impact
Positive one-time cash inflow of about Rs. 19.97 crore, a small boost to earnings and liquidity.