Kusumgar Limited has approved a non-binding term sheet with Certoplast Holding GmbH for establishing a Joint Venture (JV) in India. The JV will focus on manufacturing tapes. This move is subject to the signing of definitive agreements, statutory approvals, and customary conditions. The company also announced its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026, which showed unmodified opinions.
Kusumgar Limited Pursues Joint Venture for Tape Manufacturing
Kusumgar Limited announced a significant strategic development, having approved the execution of a non-binding term sheet with Certoplast Holding GmbH. This agreement paves the way for the establishment of a Joint Venture (JV) in India, aimed at the manufacturing of tapes. The finalization of this venture is contingent upon several key milestones, including the signing of definitive agreements, securing applicable statutory approvals, and fulfilling customary conditions precedent.
Financial Results for Q2 FY27 Released
In addition to the JV announcement, the Board of Directors of Kusumgar Limited, at its meeting held on November 5, 2026, approved the Unaudited Standalone & Consolidated Financial Results for the quarter and half-year ended September 30, 2026. The accompanying Limited Review Report indicated an unmodified opinion on these financial results. The Board meeting commenced at 5.05 p.m. and concluded at 5.35 p.m.
JV Details and Shareholding Structure
As per Annexure-B, the proposed JV between Kusumgar and Certoplast is intended to establish a new joint venture company with a shareholding structure of 50.1% for Kusumgar and 49.9% for Certoplast in the paid-up equity share capital. The specific transaction details, including share issuance terms, will be finalized and documented in the Definitive Agreements. Certoplast is confirmed to be unrelated to Kusumgar’s promoters or group companies, and the transaction is not considered a related party transaction.
Future Outlook
The formation of this JV signifies Kusumgar Limited’s strategic intent to expand its manufacturing capabilities and market reach within India’s growing tape manufacturing sector. The successful conclusion of definitive agreements and receipt of necessary approvals will mark a crucial step forward in this new business endeavor.
Source: BSE
