Foods & Inns Limited has informed regarding Disclosure of material issue
FOODSIN · price
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Foods & Inns Limited has received sanction for the 3rd tranche of its Production Linked Incentive (PLI) subsidy of Rs. 25.08 Crores from the Government of India, pertaining to FY 2023-24 performance. The company has successfully met all eligibility criteria under the scheme, including the committed capital expenditure and sales revenue targets declared in its original application. Management also highlighted that the company has already met the required sales thresholds for FY 2024-25 under the PLI guidance formula, indicating strong execution. Additionally, a 10% portion of earlier tranches — Rs. 1.09 Crores for FY 2021-22 and Rs. 1.75 Crores for FY 2022-23 — remains pending disbursement, and the company is following up with authorities for release.
Positive for shareholders — the Rs. 25.08 Crore incentive strengthens cash flows and reflects the company's strong operational and sales performance, while pending dues of around Rs. 2.84 Crores could provide further upside if released. The news signals continued government backing for the food processing business.