Intimation of Entitlement certificate for Investment Subsidy received by Carya Chemicals & Fertilizers Private Limited, Material Subsidiary, under RIPS-2022.
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Suraj Industries informed BSE that its material subsidiary Carya Chemicals & Fertilizers Pvt Ltd has received an Entitlement Certificate from the Government of Rajasthan under the Rajasthan Investment Promotion Scheme (RIPS-2022). The certificate entitles Carya to an Investment Subsidy of up to Rs 64.16 Crores, payable as reimbursement of 75% of State Tax (SGST & VAT) deposited over a maximum period of 7 years. The subsidy has been granted for Carya's investment in a new bottling plant set up in RIICO Industrial Area, Baran district, Rajasthan, for manufacturing Indian Made Foreign Liquor (IMFL), Rajasthan Made Liquor, and Country Liquor. The certificate was issued on October 31, 2025.
Positive for shareholders — the subsidy is a long-term cash flow support worth up to Rs 64.16 Crores over 7 years for the subsidiary, reducing the effective tax cost of the new bottling plant and improving future profitability. However, the benefit is staggered and contingent on actual tax deposits, so it is not an immediate cash inflow.