Ponni Sugars (Erode) Limited has informed the Exchange about the Disclosure of Order passed by Appellate Tribunal for Electricity (APTEL).
PONNIERODE · price
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Ponni Sugals (Erode) has won a long-running legal battle at the Appellate Tribunal for Electricity (APTEL) against Tamil Nadu Electricity Regulatory Commission (TNERC) and TANGEDCO. The dispute was about Parallel Operation Charges (POC) levied on the company's Captive Generating Plant under TNERC's 2019 order. APTEL, in its judgment dated 16.06.2025, set aside TNERC's order and ruled that POC is applicable only to plants that opt for parallel grid operation through a formal application. The disputed claim was around Rs. 2.64 crores, and the company had made an aggregate provision of about Rs. 4.95 crores (including demand and accruals till March 2025) for this liability.
Positive for shareholders — the company will reverse provisions of approximately Rs. 4.95 crores in Q1 FY2025-26, which will boost quarterly earnings. Removes a long-pending regulatory overhang on the stock.