Maris Spinners Limited Receives Rs 40,99,962 Interest Subsidy from Commissioner of Textiles

Maris Spinners Limited has received a partial interest subsidy of Rs 40,99,962 from the Commissioner of Textiles and Director, Bangalore. The Chennai-based textile company announced this development through an official communication to the Bombay Stock Exchange on 30 March 2026.

Subsidy Details

The interest subsidy received represents a significant portion of the company's total claim under the government's textile sector support scheme. The payment details are structured as follows:

Parameter:	Amount
Interest Subsidy Received:	Rs 40,99,962
Total Amount Due:	Rs 73,30,834
Claim Period:	Up to December 2025
Releasing Authority:	Commissioner of Textiles and Director, Bangalore

Government Support for Textile Sector

The subsidy amount of Rs 40,99,962 (Rs Forty lakh ninety nine thousand nine thousand nine hundred and sixty two only) forms part of the government's initiative to support the textile industry. This partial release indicates ongoing government backing for textile manufacturers in the region.

Corporate Communication

Maris Spinners Limited, with its registered office at 11, Cathedral Road, Chennai - 600 086, formally notified the stock exchange about this financial development. The company's Chief Financial Officer C Srinivasan signed the official communication, ensuring compliance with regulatory disclosure requirements.

The remaining amount of approximately Rs 32.31 lakh from the total claimed amount of Rs 73,30,834 is yet to be released by the authorities. This subsidy receipt strengthens the company's financial position and reflects the government's continued support for the textile manufacturing sector.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-6.89%	-5.54%	-18.03%	-33.10%	-24.80%	-6.92%

Maris Spinners Limited has received a significant interest subsidy from the government's textiles department, providing a financial boost to the Chennai-based textile manufacturer.

Interest Subsidy Details

The company announced that the Commissioner of Textiles and Director, Bangalore has partially released an interest subsidy payment. The subsidy details are as follows:

Parameter:	Amount
Subsidy Received:	Rs 53,00,000
Total Claim Amount:	Rs 1,26,30,864
Claim Period:	Up to December 2025
Percentage Released:	Approximately 42% of total claim

Regulatory Compliance

Maris Spinners Limited informed the Bombay Stock Exchange about this development through a formal communication dated 23 March 2026. The disclosure was made under general regulatory requirements, ensuring transparency with stakeholders and compliance with stock exchange norms.

The communication was signed by C Srinivasan, Chief Financial Officer of the company, and addressed to the Corporate Relationship Department of the Bombay Stock Exchange.

Company Operations

Maris Spinners Limited operates manufacturing facilities across two locations in South India:

Unit I: Located at Kattemalavadi Village, Hunsur Taluk, Mysore District
Unit II: Situated on Kulithalai Road, Manapparai, Trichy District

The company's corporate office is based at Cathedral Road, Chennai, and it has been incorporated since 1979 with CIN L93090TN1979PLC032618.

Financial Impact

The receipt of Rs 53,00,000 as interest subsidy represents a positive development for the company's financial position. While this is a partial release against the total claimed amount, it provides immediate cash flow benefits and reduces the company's financial burden related to interest costs.