Endurance Technologies receives addendum to EC, eligibility for incentives increased to ₹858.29 crore.
Endurance Technologies received an addendum to its Eligibility Certificate, increasing total eligible incentives to ₹858.29 crore, up by ₹252.26 crore. Incentives are for fixed asset investments from April 1, 2019, to March 31, 2025. The remaining period from April 1, 2025, to September 30, 2031, may receive up to ₹125.38 crore annually.
The increase in eligible incentives is significant and directly impacts the company's potential financial benefits related to its investments.
The company has received an increased eligibility for industrial incentives, which is a positive development for its financial outlook.
Endurance Technologies Limited has received an addendum to its Eligibility Certificate (EC) issued by the Directorate of Industries, Government of Maharashtra, under the Package Scheme of Incentives - 2019. This addendum increases the total eligible incentives to ₹858.29 crore, an enhancement of ₹252.26 crore from the previously reported ₹606.03 crore.
These incentives pertain to investments made in fixed assets from April 1, 2019, to March 31, 2025, at the company's eligible units in Waluj, Dist. Chhatrapati Sambhajinagar. The company intends to avail these incentives through Industrial Promotion Subsidy, including refunds of SGST collections and Electricity Duty exemption.
The admissible incentive for the remaining period, from April 1, 2025, to September 30, 2031, is estimated to be up to ₹125.38 crore per financial year on a pro-rata basis.
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