The Board Meetings of Phoenix Kothari Footwear Private Limited, an Associate Company of Kothari Industrial Corporation Limited (“KICL” or “the Company”), and its subsidiaries, namely JR One and Evervan Kothari, were held on 30 July 2026.
During the meetings, the Boards reviewed the progress of the ongoing projects and deliberated on the strategic roadmap for the future growth and expansion of their businesses.
The meetings also discussed the significant role of Kothari Industrial Corporation Limited, as a significant shareholder in Phoenix Kothari Footwear Private Limited, in supporting the long-term growth. The Board deliberated on various strategic initiatives, including the possibility of further capital infusion by KICL, subject to the necessary corporate, statutory and regulatory approvals, to strengthen the joint venture and expand its footprint across India, particularly in the State of Tamil Nadu.
It was further noted that the KICL remains committed to supporting the long-term growth strategy of Phoenix Kothari Footwear Private Limited and may explore appropriate funding alternatives, including a combination of fund infusion strategies, subject to the requisite approvals and applicable laws, with the objective of enabling Phoenix Kothari Footwear Private Limited to emerge as a leading player in the Indian footwear industry.
Dr. Jinnah Rafiq Ahmed,
Chairman of Phoenix Kothari Footwear Private Limited