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informed the exchanges on Thursday that its wholly-owned subsidiary, Elgi Compressors USA INC, has received a tariff refund from US Customs and Border Protection (CBP) amounting to US$2.68 million, equivalent to approximately ₹25.6 crore.
The company said this is consequent to the US Supreme Court’s directives to the US Government to refund the excess tariff collected from the importers.
Elgi Equipments is a global air compressor manufacturer and is headquartered in Coimbatore.
The company’s stock price closed the trading day at ₹581.25, up 1.57 per cent on the BSE.