In a filing to BSE Technocraft Industries (India) informed the permanent closure of its captive power plant.
The filing stated, “We, Technocraft Industries (India) had setup a captive power plant ('CPP') with generation capacity of 15 MW in 2008. We were generating the power for captive consumption only. This CPP was closed during nationwide lockdown and had not re-started so far.
Considering the high per unit cost of generation of power, availability of power from State Grid, withdrawal of benefit Income Tax Exemption of Profit of CPP under Section 80IA of the Income Tax due to new tax regime which is more beneficial to Company on overall basis, the management has decided not to re-start the power plant which was already closed during lockdown. The closure of CPP will not affect the operations of various manufacturing units as power is available from State Grid”.
