Balaji Amines Limited has informed the Exchange about Intimation of Receipt of Eligibility Certificate under Package Scheme of Incentives-2013 for Unit-4, at Plot No. F-104, Chincholi MIDC, Taluka Mohol, District Solapur.
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Balaji Amines has received an Eligibility Certificate from the Directorate of Industries, Government of Maharashtra, for its Unit-4 expansion at Chincholi MIDC, Solapur under the Package Scheme of Incentives-2013. The company is eligible for an Industrial Promotion Subsidy (IPS) of Rs. 25,800.87 Lakhs (approximately Rs. 258 crore), equal to 50% of SGST payable on sale of eligible finished products in Maharashtra. It will also receive Electricity Duty Exemption and 100% Stamp Duty Exemption. These benefits are available for a 7-year period from January 1, 2024 to December 31, 2030.
Positive for shareholders — the Rs. 258 crore subsidy plus electricity and stamp duty exemptions over 7 years will meaningfully boost Unit-4's profitability and reduce effective tax costs on Maharashtra sales, supporting future earnings.