Receives eligibility certificate for Maharashtra subsidy of ₹905.02 lakhs for Shirwal plant
Hy-Tech Engineers has received an Eligibility Certificate under Maharashtra's Package Scheme of Incentives, 2019, for its Shirwal plant.
By ScoutQuest · · 1 min read
- Total subsidy
- ₹905.02 lakhs
- Annual incentives
- ₹102.45 lakhs
- Validity period
- 01/01/2024 to 31/10/2032
What the company announced
- Hy-Tech Engineers Ltd has received an Eligibility Certificate under the Government of Maharashtra's Package Scheme of Incentives, 2019.
- The certificate is for one of the company's manufacturing plants located at Shirwal, Maharashtra.
- It relates to capital investments made from 01/01/2021 to 31/12/2023.
The amounts involved
- Total subsidy provided for in the certificate: ₹905.02 lakhs (Rupees Nine Crore Five Lakh Two Thousand).
- This comprises annual incentives of ₹102.45 lakhs (Rupees One Crore Two Lakh Forty-Five Thousand).
- These incentives are stated as valid from 01/01/2024 to 31/10/2032.
What an eligibility certificate is
An eligibility certificate is the state government's confirmation that a unit qualifies for incentives under a scheme. Here it is issued for the Shirwal plant in respect of capital investment already made during the stated three-year window, and it sets out the subsidy amount together with the period over which the annual incentives apply.
How to read this
- The announcement is about the certificate being received; the certificate itself provides for a total subsidy of ₹905.02 lakhs, made up of annual incentives of ₹102.45 lakhs over the validity period running from 01/01/2024 to 31/10/2032.
- The incentive is tied to one specific plant (Shirwal) and to a specific investment window (01/01/2021 to 31/12/2023), so it is a plant-level incentive under a state scheme rather than a company-wide arrangement.
- For a retail reader, the two figures to note are the total ₹905.02 lakhs and the annual ₹102.45 lakhs stated in the certificate.
Perception
The update reads as a positive operational development, as it records a formal confirmation of state subsidy eligibility for a manufacturing unit. The impact a reader can judge quantitatively is the stated subsidy amount and the annual incentive figure.
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More numbers
- Total subsidy provided for in the certificate₹905.02 lakhs
- Annual incentives under the certificate₹102.45 lakhs
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