Balaji Amines Secures ₹258 Cr Subsidy, Waivers for Maharashtra Unit Expansion

• Balaji Amines received an eligibility certificate for ₹258 crore subsidy and waivers for its Chincholi MIDC, Solapur unit-4 expansion.
• The certificate, from Directorate of Industries, Maharashtra, is under the PSI-2013 mega projects scheme.
• Incentives include an Industrial Promotion Subsidy (IPS) covering 50% of SGST payable on eligible finished products.
• The company also gets exemption from electricity duty and 100% stamp duty exemption from Jan 1, 2024, to Dec 31, 2030.
• Despite incentives, Balaji Amines reported a 15.6% drop in Q2 net profit to ₹34.5 crore, with revenue also down.

Why It Matters: Balaji Amines secures ₹258 crore subsidy and waivers for its Maharashtra unit expansion.