Board approves new solar subsidiary MCFL Energy Projects

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Price reactionminutes from the announcement price · days from the prior close

-4.9%Reaction day

₹606.00

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-1.3%-3.6% vs market

Garments & Apparels peers, median of 36sector-1.9%-3.0% vs sector

On the reaction day the stock moved 3.6 pts less than Nifty Microcap 250 and 3.0 pts less than its Garments & Apparels peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Monte Carlo Fashions board approved incorporating MCFL Energy Projects Private Limited as a 100 percent wholly owned subsidiary to execute 35 MW solar projects in Madhya Pradesh under PM KUSUM-C Scheme. The subsidiary will focus on solar power generation. This follows Letters of Award received from Madhya Pradesh Urja Vikas Nigam Ltd in December 2025. The new unit marks the company's move into renewable energy, separate from its core apparel business.

Likely market impact

Diversification into renewable energy; a dedicated subsidiary will handle 35 MW solar projects, separate from the core apparel business.