Kusumgar to form JV with Certoplast Holding GmbH for tape manufacturing
Kusumgar Limited's Board approved a non-binding term sheet with Certoplast Holding GmbH to form a Joint Venture in India for tape manufacturing. Kusumgar will hold 50.1% and Certoplast 49.9% in the JV. The company also approved Q2 FY27 financial results.
The formation of a joint venture for tape manufacturing indicates a strategic expansion, which can have a medium-term impact on the company's growth and market presence.
The company is entering into a strategic joint venture which is a positive development for business expansion.
Kusumgar Limited announced that its Board of Directors has approved the execution of a non-binding term sheet with Certoplast Holding GmbH for the establishment of a Joint Venture (JV) in India. This JV will focus on the manufacturing of tapes. The agreement is subject to the signing of definitive agreements, receipt of applicable statutory approvals, and completion of customary conditions precedent.
The Board also approved the Unaudited Standalone & Consolidated Financial Results for the Quarter and Half-year ended September 30, 2026, along with the Limited Review Report, which received an unmodified opinion. The board meeting commenced at 5:05 p.m. and concluded at 5:35 p.m. on November 5, 2026.
The JV will be established with a shareholding of 50.1% for Kusumgar and 49.9% for Certoplast in the new entity. The specific details regarding the class of shares, issue price, and other terms will be finalized in the definitive agreements. Certoplast Holding GmbH is not related to Kusumgar's promoter or group companies, and this transaction is not considered a related party transaction.
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