KRN Heat Exchanger and Refrigeration Limited has informed the Exchange about Revised Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Approval under Rajasthan Investment Promotion Scheme (RIPS-2024)
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KRN HVAC Products Private Limited (a related entity) has received approval under the Rajasthan Investment Promotion Scheme (RIPS-2024) for its Neemrana Plant. The approval grants a turnover-linked incentive of 1.54% of net sales (including a 10% Employment Booster component on top of the 1.40% base rate). The State Level Screening Committee has approved an Eligible Fixed Capital Investment of ₹182.95 Crore. The company states this approval will provide fiscal benefits, enhance operational efficiency, improve cost competitiveness, and positively contribute to profitability. This is a revised filing superseding an earlier intimation submitted the same day.
The government incentives under RIPS-2024 are expected to reduce operational costs and improve profit margins for the Neemrana facility, which could be positive for the company's financial performance. The substantial ₹182.95 crore capital investment approval signals confidence in the plant's scale of operations.