EPACK Durable Limited Secures Major Incentives Under Rajasthan Investment Promotion Scheme (RIPS-2024)
EPACK Durable Limited has received Entitlement Certificates from the Government of Rajasthan under the Rajasthan Investment Promotion Scheme (RIPS-2024) for its manufacturing facility located in Bhiwadi, Rajasthan.The company has been recognized as a 'Large Category' manufacturing unit under the Electronics System Design & Manufacturing (ESDM) thrust sector category by the Government of Rajasthan.
The incentives approved for the Bhiwadi manufacturing facility, which are effective from February 15, 2022, significantly boost the company's operational framework.
Key incentives approved include:
| Incentive Type | Benefit Details | Duration |
|---|---|---|
| Turnover Linked Incentive (TLI) | 1.32% of eligible net sales turnover (including applicable ESDM thrust booster benefits) | 10 years |
| Electricity Duty Exemption | 100% | 7 years |
| Skilling & Training | 50% reimbursement of eligible expenditure | N/A |
The company noted that the financial impact of these incentives will be recognized in accordance with applicable accounting standards, the terms of the scheme, and upon completion of the required claim and approval processes.
Speaking on the development, Mr. Ajay DD Singhania, Managing Director & CEO of EPACK Durable Limited, stated that receiving the Entitlement Certificates under RIPS-2024 reaffirms the Government of Rajasthan's commitment to promoting manufacturing and strengthening the electronics and consumer durables ecosystem in the state.
Mr. Singhania added that these incentives are expected to enhance the company's long-term manufacturing competitiveness and improve operational efficiencies. He noted that the recognition further strengthens confidence in Rajasthan as an important manufacturing hub, supporting the company's future growth and expansion plans.
The incentives are anticipated to play a crucial role in helping EPACK Durable Limited expand its manufacturing capabilities, drive innovation, and create employment opportunities while continuing to deliver high-quality products.
EPACK Stock Price Movement
Today, EPACK Durable Limited shares edged higher to close at ₹240.90, marking a gain of 0.15% in post-market trading. The stock settled with notable conviction, recording a high volume of 514,025 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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