Subsidiary receives Rs 18.46 crore incentive for new Dhar plant
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Hi-Green Carbon's wholly owned subsidiary, Shantol Recycling, received Madhya Pradesh government sanction for incentives tied to its new plant in Dhar. The plant began operating in May 2026. Its projected cost is Rs 50.84 crore, with Rs 46.55 crore invested. Sanctioned incentives total Rs 18.46 crore over seven years, or Rs 2.64 crore yearly. A further Rs 12.28 crore investment is underway, with about Rs 4.91 crore of additional incentives planned for claim.
The incentive sanction can support subsidiary earnings and cash flows through 2033, while the remaining plant investment adds some execution risk.