MP sanctions incentives for subsidiary's new Dhar plant

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AI summary

Shantol Recycling, Hi-Green Carbon's wholly owned subsidiary, received approval for incentives under Madhya Pradesh's MSME Development Policy 2025 for a new Dhar plant, which began operations in May 2026. Approved incentives total Rs 18.46 crore over seven years. The estimated Rs 50.84 crore project has Rs 46.55 crore invested, with Rs 12.28 crore of spending under way. It plans to apply for about Rs 4.91 crore more.

Likely market impact

The seven-year incentive approval may improve subsidiary earnings and cash flows, although further investment is still required.