KRN Heat Exchanger's Subsidiary Receives RIPS-2024 Approval for Neemrana Plant
KRN Heat Exchanger And Refrigeration Limited has announced that its wholly owned subsidiary, KRN HVAC Products Private Limited, has secured approval under the Rajasthan Investment Promotion Scheme (RIPS-2024) for its Neemrana Plant.The approval is expected to provide significant fiscal benefits to the Neemrana facility. KRN Heat Exchanger And Refrigeration Limited stated that the recognition under the scheme grants the company specific financial incentives, enhancing the plant's operational structure and market standing.
The details of the incentives received under the Rajasthan Investment Promotion Scheme are as follows:
| Incentive Category | Rate / Value | Basis |
|---|---|---|
| Turnover Linked Incentive | 1.40% | Percentage of Eligible Fixed Capital Investment (EFCI) |
| Total EFCI Approved | 182.95 Crore | Total Approved by State Level Screening Committee (SLSC) |
The approval is set to enhance the operational efficiency and improve the cost competitiveness of the Neemrana Plant. The company anticipates that these benefits will contribute positively to its overall profitability and strengthen its position within the industry.
KRN Stock Price Movement
Today, KRN Heat Exchanger and Refrigeration Limited shares edged higher to settle at ₹1048, gaining 0.80% (₹8.30) in trading today. The stock saw strong interest, recording a total traded volume of 391,855 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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