Balaji Amines Secures ₹258 Crore Subsidy for Solapur Expansion

Balaji Amines Ltd has secured eligibility for a ₹258 crore industrial promotion subsidy from the Maharashtra government for its Unit-4 expansion at Chincholi MIDC, Solapur. The eligibility certificate, issued on January 7, 2026, by the Directorate of Industries, also grants key fiscal incentives effective until December 31, 2030, including: 50% reimbursement of SGST on eligible sales in Maharashtra Full exemption from electricity and stamp duty The package is awarded under the PSI-2013 Mega Projects Scheme, aimed at boosting large-scale investments in the state. Despite this positive development, the company reported a 15.6% YoY drop in net profit to ₹34.5 crore in Q2 FY26, with revenue slightly down at ₹340.5 crore (from ₹346.8 crore). However, EBITDA remained stable at ₹59.8 crore, and operating margins improved marginally to 17.5%. The incentive is expected to enhance project viability, reduce costs, and support long-term growth in its specialty chemicals business.