With the addition of a new promoter, Kothari Industrial Corporation Ltd, a diversified conglomerate, has laid out ambitious expansion plans across multiple sectors, according to a senior official. The company intends to focus on sectors such as footwear, fertilizers, food, drone technology, synthetic textiles, and solar energy in the coming years, which is expected to generate a significant number of job opportunities, stated Vice-Chairman and Managing Director J Rafiq Ahmed.
During an interaction where he outlined his strategic vision for the Chennai-based group, Ahmed, who took on the role of Vice-Chairman and Managing Director in 2018, reflected on his journey with the company. He initially became an investor in 2014 after a successful stint in the steel industry. Currently, Ahmed holds a 47.08 percent stake in the company, but this figure could potentially increase to 73.07 percent following the completion of an open offer on equity shares.
Notably, Kothari Industrial Corporation Ltd, which had been delisted from stock exchanges in 2000, recently achieved relisting. Discussing the company’s future direction, Ahmed expressed confidence in revitalizing the company’s former prestige, declaring, “We are set to pursue growth with great vigor. The distinguished reputation that Kothari once enjoyed will undoubtedly be restored. My aim is to carry forward the legacy of the Kothari Group.”
Highlighting the company’s involvement in the fertilizer sector, Ahmed revealed ongoing discussions with Qatar-based Sheikh Falah Bin Jassin Bin Jabor Al Thani regarding the establishment of a fertilizer factory in Qatar. He added, “Once this project is underway, we plan to explore opportunities in neighboring countries of Qatar for further expansion. We’ve already initiated dialogue with the Qatari government about this venture.” The estimated investment required to establish the fertilizer facility in Qatar is approximately Rs 7,000 crore.
Beyond the fertilizer industry, Ahmed elaborated on plans to establish two factories dedicated to producing non-leather footwear in Tamil Nadu, for which negotiations are currently in progress. He shared his vision, saying, “My aspiration is to create component clusters in Tamil Nadu and eventually replicate them across other regions of the country. For a component cluster in Perambalur, we have already secured commitments from 23 partners.”
Presently, Kothari Industrial Corporation Ltd has entered into agreements for the manufacturing and distribution of the Crocs and Kickers brands of footwear in India, with a manufacturing facility already operational in Perambalur, located approximately 250 km south of Chennai.
Ahmed also disclosed the company’s plans to aggressively enter the food and drone technology sectors, noting a substantial demand for drones within the agricultural community. “We have established the first drone training school in Madurai, with plans to expand these schools to various districts across Tamil Nadu. Eventually, we aim to have a nationwide presence,” he said, emphasizing the growing need for skilled drone operators in India.
With numerous projects on the horizon, Ahmed projected that the total investment would amount to between Rs 16,000 crore and Rs 17,000 crore over the next two years. However, the specific shareholding pattern and investment structure are still under consideration, he noted. Regarding the food business, Ahmed revealed plans to launch a chain of vegetarian restaurants in Chennai, further diversifying the company’s portfolio.
Kothari Industrial Corporation Ltd is a diversified conglomerate with a strong presence in various sectors, including footwear, fertilizers, food, synthetic textiles, drone technology, and solar energy. Established with a legacy of innovation and growth, the company is committed to expanding its operations, creating job opportunities, and revitalizing its market presence under dynamic leadership.
