Borana Weaves has received approval from the Ministry of Textiles to participate in Round 3 of the Production Linked Incentive (PLI) Scheme for Textiles. The company was inducted as a participant in the Man-Made Fibre (MMF) Fabrics segment under the Part-2 category. This development follows a letter of selection dated June 16, 2026, and the company's subsequent confirmation to establish a separate project unit for the scheme.

The Ministry of Textiles conveyed the approval via a letter dated July 18, 2026. The approval is subject to the company abiding by the provisions of the PLI Scheme and its guidelines. The Ministry clarified that the approval does not guarantee disbursement of incentives, which will depend on the verification of cumulative new domestic investment, turnover of notified products, and value addition calculations.

Key Details of Approval

The company confirmed its participation for setting up a separate project unit under the participant company, Borana Weaves Limited, to engage in the PLI Scheme. The approval letter was signed by Bhaskar Kalra, Under Secretary to the Government of India (Manmade Fibre Section).

Borana Weaves Limited has informed the exchanges that the commissioning of its 9.9 MW Hybrid Power Project at Kalikanagar, Gujarat, has been delayed to the end of August 2026. The project was previously scheduled for commissioning by May 31, 2026. This delay impacts the company's operational timeline for the renewable energy initiative. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Project Details

The following table summarises the key details of the delayed hybrid power project:

Reasons for Delay

The company received a communication dated June 18, 2026, from Clean Max Enviro Energy Solutions Limited, the project developer, outlining the revised timeline. Clean Max Enviro Energy Solutions Limited cited several factors for the delay. High wind speeds halted the erection of Wind Turbine Generators (WTG). Additionally, a shortage of fuel at the site and the inability to secure timely shutdowns of existing 33 KV and 11 KV lines from a private developer and GETCO/PGVCL for 33 KV transmission line work contributed to the postponement.

The communication from the project manager at Clean Max Enviro Energy Solutions Limited confirmed that the revised timeline is tentative and subject to the completion of the pending transmission line work and resolution of the site constraints.