Kasturi Metal Composite Limited has approved the incorporation of a majority-owned foreign subsidiary in Mainland Dubai, United Arab Emirates. The new entity, to be named “Durafloor MENA LLC,” will focus on concrete flooring and polishing services for industrial and warehouse construction segments. Kasturi Metal Composite will subscribe to 51% of the subsidiary’s paid-up share capital, amounting to AED 5,10,000, equivalent to approximately ₹1.32 crore.
Kasturi Metal Composite Expands Internationally
Kasturi Metal Composite Limited announced today, November 3, 2026, the approval by its Board of Directors to incorporate a new majority-owned foreign subsidiary in Mainland Dubai, United Arab Emirates. The proposed entity, to be named “Durafloor MENA LLC” or a similar approved name, aims to capitalize on the growing demand for specialized flooring solutions in the region.
Focus on Industrial and Warehouse Segments
The new subsidiary will engage in the design and execution of concrete flooring and polishing services, specifically targeting the industrial and warehouse construction segments across the UAE and other GCC countries. As a newly formed entity, “Durafloor MENA LLC” currently has no operating history or turnover.
Investment and Shareholding
Kasturi Metal Composite Limited will subscribe to 51% of the paid-up share capital of the proposed subsidiary. This translates to an investment of AED 5,10,000 for 51,000 shares of AED 10 each, equivalent to approximately ₹1.32 crore based on an exchange rate of ₹26 per AED. The company will hold a controlling stake of 51% in the newly formed subsidiary through this cash consideration, facilitated via an Authorised Dealer Bank. The incorporation is expected to be completed within 90 to 120 days, pending approval from the Mainland Zone Authority.
Board Meeting Details
The Board Meeting where this decision was made commenced at 2:00 P.M. and concluded at 4:05 P.M. on November 3, 2026. This information is also available on the company’s website at www.steelfiberindia.in.
Source: BSE
