Kothari industrial corporation Limited has announced a strategic partnership to expand into the footwear training sector through a Memorandum of Understanding signed on 31 January 2026. The collaboration involves RED21 S.L., the licence holder of Icad software, and CMI, which serves as the Indian agent for RED21.

Partnership Structure and Technology Integration

The MoU establishes a framework for jointly developing and offering Footwear Development Coaching and Training Programs utilizing RED21's specialized Icad technology. This partnership combines Kothari Industrial's local infrastructure capabilities with RED21's advanced software solutions to create comprehensive training programs for the footwear industry.

Revenue Sharing and Responsibilities

The agreement outlines a clear division of responsibilities and revenue sharing between the partners:

Kothari Industrial's Contributions

The company will provide essential infrastructure and operational support including:

• Training facilities and infrastructure
• Administrative support services
• Coordination with government schemes
• Local market expertise and connections

RED21/CMI's Contributions

The technology partners will supply:

• Icad classroom licenses
• Comprehensive trainer training programs
• Curriculum development and support
• Academic supervision and quality assurance

Strategic Implications

This partnership represents Kothari Industrial Corporation's expansion into the specialized training sector, specifically targeting the footwear development industry. The collaboration leverages advanced Icad technology to deliver professional coaching programs, potentially tapping into government training schemes and industry demand for skilled professionals.

The three-month validity period of the MoU provides both parties with adequate time to evaluate the partnership's potential and negotiate a comprehensive definitive agreement. The company has committed to providing additional disclosures under SEBI regulations once the binding agreement is finalized and executed.

Kothari Industrial Corporation Limited has officially executed a Joint Venture Agreement with Accademia IUAD, Italy, marking a significant milestone in the company's international partnership strategy. The agreement was finalized on January 30, 2026, and disclosed to the Bombay Stock Exchange in compliance with regulatory requirements.

Joint Venture Agreement Details

The execution of this agreement follows the company's earlier disclosure dated November 29, 2025, which outlined the proposed joint venture with the Italian institution. The company has now moved from the proposal stage to formal agreement execution, demonstrating progress in its international collaboration efforts.

Regulatory Compliance

Kothari Industrial Corporation Limited has ensured full compliance with regulatory disclosure requirements. The company has filed the necessary intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, all disclosures required under Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, were previously provided in the earlier intimation.

Corporate Communication

The formal disclosure was signed by Anil Kumar Padhiali, Company Secretary and Compliance Officer, ensuring proper authorization and documentation of this significant corporate development. The company has requested the stock exchange to acknowledge receipt of this important information and maintain it on record.

This joint venture agreement represents Kothari Industrial Corporation Limited's commitment to expanding its international presence and establishing strategic partnerships with reputed institutions abroad. The collaboration with Accademia IUAD, Italy, opens new avenues for the company's growth and development in international markets.