Megastar Foods Ltd

Megastar Foods Ltd has filed a disclosure regarding an appeal before the Commissioner (Appeals), Ludhiana. This pertains to the vacating/dropping of a demand of ₹6,22,93,620 by the department. The company is the respondent in this departmental appeal. Additionally, the company itself has appealed against the confirmation of a demand of ₹1,82,82,724, along with related interest and penalty. The company has been given an opportunity to file a counter-reply in both matters. There is no immediate financial or operational impact, which will be assessed after the Commissioner's order.

Megastar Foods Ltd has announced the closure of its trading window for designated persons and their immediate relatives. The window will be closed from July 1, 2026, and will reopen 48 hours after the company's Un-audited Financial Results for the Quarter (Q1) ending June 30, 2026, are made public. The exact date of the board meeting to consider these results will be communicated later. This measure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Megastar Foods Ltd has issued a clarification regarding a previous intimation about an eligibility certificate for electricity duty exemption from the Department of Industries & Commerce, Punjab. The company corrected a typographical error where the subsidy amount was mistakenly reported as ₹881.86 Crores instead of the actual ₹88.68 Crores. This exemption is valid for 15 years and is subject to fulfilling government conditions. The corrected amount is expected to reduce operating costs and improve profitability over the exemption period.

Megastar Foods Ltd has received an Eligibility Certificate from the Department of Industries & Commerce, Punjab, granting a 100% exemption from electricity duty for 15 years from November 18, 2024. This exemption is linked to an investment of Rs. 8867.86 Lakhs during their expansion. The company is also eligible for incentives up to INR 881.86 Crores. This exemption is expected to reduce operating costs and improve profitability over the exemption period.

Megastar Foods Ltd has informed the stock exchanges about the delegation of authority to determine the materiality of information or events. This decision aligns with Regulation 30 (5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Key Managerial Personnel authorized include Mr. Vikas Gupta (Whole Time Director), Ms. Manisha Gupta (Chief Financial Officer), and Mr. Harsh Sharma (Company Secretary & Compliance Officer). This move aims to streamline disclosure processes and ensure timely and accurate reporting of significant events.

Megastar Foods Ltd's Board of Directors approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026, in a meeting held on May 21, 2026. The results, along with audit reports from M/s Nitin Mahajan & Associates, have been submitted to the BSE as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 2.30 p.m. and concluded at 3.30 p.m.

Megastar Foods Ltd's Board of Directors approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026, during its meeting held on May 21, 2026. The results, reviewed by the Audit Committee, include audit reports from M/s Nitin Mahajan & Associates. The company has also declared that the Statutory Auditors' opinion on the audited financial results for the year ended March 31, 2026, is unmodified.

Megastar Foods Ltd has scheduled a Board of Directors meeting on May 21, 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The trading window for dealing in the company's shares will remain closed until May 23, 2026. The information is available on the company's website.

Megastar Foods Ltd received a follow-up update regarding a notice from the Market Committee, Rupnagar, concerning alleged non-payment of Market Committee Fee and RDF Fee totaling ₹36.68 crore. Following the company's representation, the Punjab State Agricultural Marketing Board (Mandi Board) found the allegations baseless and unjustified. The Mandi Board has quashed the original notice and directed the Market Committee, Rupnagar, to dispose of the matter. This resolution absolves Megastar Foods of the significant financial obligations, ensuring no expected impact on its financial, operational, or other activities.

Megastar Foods Ltd has issued a revised disclosure correcting an error in a previous filing regarding a notice from Market Committee, Rupnagar. The original disclosure mistakenly stated the alleged Market Committee Fee and RDF Fee as ₹36,568,59,110/-, which has now been corrected to ₹36,68,59,110/- for each. The notice, received on April 13, 2026, alleges non-payment of these fees and failure to procure an appropriate license. Megastar Foods asserts it holds a valid license from the Punjab State Agricultural Marketing Board and that, as a processing unit, it is not liable for such fees under prevalent state laws. The company plans to address the matter with the Board and pursue legal recourse, expecting no immediate financial impact.