On June 15, Tega Industries’ share price rose in the early trade after the company received the National Company Law Tribunal’s (NCLT’s) consent for corporate restructuring of promoter group corporations.

The Kolkata Bench of NCLT gave its green signal to the Composite Scheme of Arrangement amongst Nihal Fiscal Services Private Limited (NFSPL), promoter of Tega Industries Limited, Marudhar Food & Credit Limited (MFCL) and MM Group Holdings Private Limited, all part of the company’s promoter group.

According to the plan, MFCL, the company’s promoter group entity, will be combined into NFSPL on a working concern basis. MM Aqua Technologies Limited and Maple Orgtech (India) Limited, a subsidiary of NFSPL and the company’s promoter group units, will be relocated and de-merged from NFSPL to MM Group Holdings Private Limited on a present concern basis.

In the March 2023 quarter, the company posted a 58% YoY jump in net profit at Rs 77.26 crore. The company’s Revenue rose 36.6% at Rs 396.41 crore against Rs 290.05 crore YoY.

At 9:26 am, Tega Industries was trading at Rs 954.70, up Rs 1.90, or 0.20%, on the BSE. The share moved a 52-week high of Rs 985 on June 13, 2023, and a 52-week low of Rs 420.40 on June 20, 2022.
It is trading 3.08% below its 52-week high and 127.09% above its 52-week low.