Pursuant to Regulation 30 of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015, the Company would like to intimate an update in respect of the approval granted to ....
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Sudarshan Pharma informed the stock exchange that the Department of Pharmaceuticals, under the Ministry of Chemicals and Fertilizers, has approved a change of location for its PLI Scheme greenfield projects from MIDC (Maharashtra) to GIDC (Gujarat). The projects relate to manufacturing of Vitamin B6 and Vitamin B1, which are critical Active Pharmaceutical Ingredients (APIs). The competent authority has also revised the scheduled commercial operation date to 31st December 2027, citing local resistance issues at the original site. The company's earlier request sought an extension to 30th June 2026 if using existing units in GIDC, or up to 31st December 2027 for setting up fresh greenfield projects. All other criteria for claiming incentives under the PLI Scheme remain unchanged. The original scheduled dates had already been pushed once before from 2023-2024 to March 2025.
This is largely procedural and neutral for shareholders. The extended deadline gives the company more time to commission its API manufacturing projects under the government incentive scheme, but the repeated delays and relocation may raise concerns about execution capability. The PLI incentives, once earned, would boost margins, so successfully commissioning by December 2027 remains the key milestone to watch.