Master Components Limited has executed a Joint Venture Agreement with Prathamesh Industries (India) Limited to form a new entity focused on manufacturing raw materials and composites. The joint venture company will be owned equally by both partners, with each holding 50% of the equity share capital. The agreement was executed on June 04, 2026, following approval from the Board of Directors on May 15, 2026.

The proposed joint venture company, to be named Pramas India Private Limited or Pramas Industries Private Limited, will carry on the business of manufacturing, processing, compounding, moulding, buying, selling, importing, and exporting raw materials. This includes Sheet Moulding Compound (SMC) and Dough Moulding Compound (DMC) and other composites, serving both domestic and international markets. The entity is proposed to be incorporated in India as an Indian Non-Government company.

The initial paid-up share capital of the joint venture company will be ₹10,00,000. Master Components Limited will subscribe to 50% of the equity shares, amounting to an investment of ₹5,00,000 for 5,000 equity shares at a face value of ₹100 each. The remaining 50% will be held by Prathamesh Industries (India) Limited. Based on funding requirements, both partners will contribute funds in equal proportion.

Key Details of the Joint Venture

The board of the joint venture company will comprise an equal number of nominees from Master Components Limited and Prathamesh Industries (India) Limited. Master Components Limited will have the right to nominate a candidate for the position of Chief Executive Officer, while Prathamesh Industries (India) Limited will have the right to nominate a candidate for the position of Chief Operations Officer.

The investment does not fall within the purview of Related Party Transactions for Master Components Limited at the stage of subscription. However, post-investment, the joint venture company will become an associate of the company and hence a Related Party. The turnover for Master Components Limited for FY 2024-2025 was ₹42,40,30,803, while Prathamesh Industries (India) Limited reported a turnover of ₹71,38,78,326.70 for the same period.

master components has secured a purchase order worth INR 33,96,000 for the supply of Electric Vehicle Supply Equipment from a domestic entity. The order is scheduled for execution by June 28, 2026, with payment terms set at 30 days from the date of the purchase order.

The disclosure was made to the National Stock Exchange of India Ltd. on June 03, 2026, under Regulation 30 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015. The order is not a related party transaction, and the promoter group has no interest in the entity awarding the contract.

Order Details

The filing provided specific details regarding the nature and terms of the agreement. The company has stated that the name of the client is not disclosed for competitive sensitivity reasons.

The order represents a new business development for Master Components in the electric vehicle infrastructure sector. The company confirmed that the transaction is conducted at arm's length and does not involve any interests from the promoter or group companies.