Maharashtra subsidy eligibility certificate received for Shirwal plant

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AI summary

The company received an eligibility certificate for Maharashtra government incentives linked to capital investments at its Shirwal plant from January 2021 to December 2023. The total subsidy is Rs 9.05 crore, payable as annual incentives of Rs 1.02 crore from January 2024 to October 2032.

Likely market impact

Positive for shareholders as the subsidy can reduce the plant's net cost and support cash flows through 2032, subject to scheme conditions.