Megastar Foods has secured a 100% exemption from electricity duty for a period of 15 years from the Punjab government, effective from the date of commercial production following its expansion. The incentive, communicated via an addendum to the Eligibility Certificate issued by the Department of Industries & Commerce, Punjab, Chandigarh, is valid from November 18, 2024, or up to 100% of the Fixed Capital Investment (FCI) of ₹8867.86 lakhs, whichever is earlier. This exemption is granted under clause 10.1(iv), (v) of the DSOG-2018 issued under the Industrial and Business Development Policy-2017 (IBDP-2017). The intimation was submitted to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Incentive Details

The company is also eligible to receive incentives amounting to ₹881.86 Crores, subject to specific terms and conditions outlined by the authority. The notification reference number cited is CC/Addl.Dir./Industrial & Business Development /2017/1369 dated October 17, 2017. The following table summarizes the key details of the incentive received:

Financial Impact

Management stated that the electricity duty exemption will directly contribute to a reduction in operating costs over the exemption period. Consequently, this measure is anticipated to improve the overall profitability of the company during the specified timeframe. The intimation was signed by Vikas Goel, Managing Director of Megastar Foods Limited, and disseminated to BSE Limited and the National Stock Exchange of India Limited on June 15, 2026.

Megastar Foods has appointed Mr. Harsh Sharma as its Company Secretary and Compliance Officer (Key Managerial Personnel) effective June 09, 2026. The appointment follows a recommendation by the Nomination and Remuneration Committee and was approved by the Board of Directors during a meeting held on Tuesday. This leadership change ensures the company maintains compliance with regulatory requirements as it continues its operations in the food processing sector.

The Board meeting commenced at 1.00 p.m. and concluded at 1.30 p.m. on June 09, 2026. The company informed the exchanges of this outcome pursuant to Regulation 30 read with Para A(7) of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Harsh Sharma is a qualified Company Secretary and an Associate Member of the Institute of Company Secretaries of India (ICSI Membership No.73413). He has been appointed on a full-time employment basis designated as Company Secretary and Compliance Officer (KMP) of the company.

The disclosure regarding the appointment was made in compliance with SEBI Master Circular No, HO/49/74/74(7)2025-CFD-POD2/1/3762/2026 updated on January 30, 2026. The appointment details were submitted to BSE Limited and National Stock Exchange of India Limited.

Appointment Details