SELECT 
  cscart_ult_product_prices.product_id, 
  MIN(
    IF(
      cscart_ult_product_prices.percentage_discount = 0, 
      cscart_ult_product_prices.price, 
      cscart_ult_product_prices.price - (
        cscart_ult_product_prices.price * cscart_ult_product_prices.percentage_discount
      )/ 100
    )
  ) AS price 
FROM 
  cscart_ult_product_prices 
WHERE 
  cscart_ult_product_prices.product_id IN (
    12, 78, 79, 11, 41, 81, 107, 109, 91, 92, 
    34, 15, 31, 38, 80, 102, 28, 280, 282, 
    278, 7, 27
  ) 
  AND cscart_ult_product_prices.lower_limit = 1 
  AND cscart_ult_product_prices.company_id = 1 
  AND cscart_ult_product_prices.usergroup_id IN (0, 0, 1) 
GROUP BY 
  cscart_ult_product_prices.product_id

Query time 0.00098

JSON explain

{
  "query_block": {
    "select_id": 1,
    "cost_info": {
      "query_cost": "60.00"
    },
    "grouping_operation": {
      "using_temporary_table": true,
      "using_filesort": true,
      "table": {
        "table_name": "cscart_ult_product_prices",
        "access_type": "ref",
        "possible_keys": [
          "usergroup",
          "product_id",
          "company_id",
          "lower_limit",
          "usergroup_id"
        ],
        "key": "company_id",
        "used_key_parts": [
          "company_id"
        ],
        "key_length": "4",
        "ref": [
          "const"
        ],
        "rows_examined_per_scan": 240,
        "rows_produced_per_join": 6,
        "filtered": "2.90",
        "index_condition": "(`rajansecarter_single_store_19_jan`.`cscart_ult_product_prices`.`company_id` <=> 1)",
        "cost_info": {
          "read_cost": "12.00",
          "eval_cost": "1.39",
          "prefix_cost": "60.00",
          "data_read_per_join": "222"
        },
        "used_columns": [
          "product_id",
          "price",
          "percentage_discount",
          "lower_limit",
          "company_id",
          "usergroup_id"
        ],
        "attached_condition": "((`rajansecarter_single_store_19_jan`.`cscart_ult_product_prices`.`lower_limit` = 1) and (`rajansecarter_single_store_19_jan`.`cscart_ult_product_prices`.`product_id` in (12,78,79,11,41,81,107,109,91,92,34,15,31,38,80,102,28,280,282,278,7,27)) and (`rajansecarter_single_store_19_jan`.`cscart_ult_product_prices`.`usergroup_id` in (0,0,1)))"
      }
    }
  }
}