Kothari Industrial Corporation's Bold Expansion: From Fertilizers to Drones

Kothari Industrial Corporation Ltd, led by Vice-Chairman and Managing Director J Rafiq Ahmed, is set to embark on an aggressive expansion across sectors including footwear, fertilizers, food, drone technology, textiles, and solar energy. Project costs are estimated around Rs 16,000 crore to Rs 17,000 crore over the next two years.

In an ambitious move, Kothari Industrial Corporation Ltd, now guided by a new promoter, has unveiled aggressive expansion plans across multiple sectors. The company aims to venture into footwear, fertilizers, food, drone technology, synthetic textiles, and solar energy in the upcoming years, according to J Rafiq Ahmed, Vice-Chairman and Managing Director.

Ahmed, who took on his current role in 2018, detailed his vision for the company's future, which includes substantial job creation and investments amounting to Rs 16,000 crore to Rs 17,000 crore. Ahmed, holding a 47.08 percent stake, could see his share rise to 73.07 percent following an equity open offer.

A key project involves a Rs 7,000 crore fertilizer factory in Qatar. The company is also targeting the setup of non-leather footwear factories and food businesses in Tamil Nadu. In drone technology, Kothari Industrial has established the first drone training school in Madurai and plans further expansions.

(With inputs from agencies.)