Announced Mon, 15 Jun · 21:02 IST
Megastar Foods gets 100% electricity duty exemption for 15 years
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MEGASTAR · price
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Price reaction · full curve 14 horizons · vs prior close
-1.3%1-day move
₹328.20
prior close
₹335.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-3.8-4.3-5.4-5.3-1.3-3.7+2.0+4.5+3.3+6.6+12.1+1.9——
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AI summary
Megastar Foods received an addendum to its Eligibility Certificate from Punjab's Department of Industries & Commerce, granting 100% exemption from electricity duty for 15 years from 18.11.2024, or until 100% of FCI of Rs. 8,867.86 lakhs is exhausted. The company is also eligible for incentives up to Rs. 881.86 Crores, subject to terms and conditions. This is expected to reduce operating costs and improve profitability over the exemption period.
Likely market impact
Significant long-term cost savings on electricity duty, boosting margins. Up to Rs. 881.86 Cr in potential incentives could materially benefit financials.