Execution of Joint Venture Agreement with Malabar Cements Limited - details enclosed.
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Artson Ltd has formally signed and executed a Joint Venture Agreement with Malabar Cements Limited (MCL), a Kerala-based company, on 12th February 2026. This follows the Board's earlier approval disclosed on 1st November 2025. The JV aims to combine Artson's execution capabilities in maritime manufacturing (ships, boats, vessels, barges, floating platforms, and related fabrication/erection work) with MCL's waterfront land of approximately 7 acres, including about 45 metres of waterfront access. It is an unincorporated JV with profit/loss sharing ratios based on dynamic slabs. Artson will have 3 representatives and MCL 2 on the supervisory board. No shares are being issued, the parties are not related, and there is no conflict of interest.
This JV opens a new revenue vertical for Artson in the maritime/shipbuilding space by giving it access to scarce waterfront infrastructure, without any equity dilution. Partnering with a government-owned entity (MCL is a Kerala PSU) adds credibility, though being unincorporated may limit transparency on JV-level financials for shareholders in the near term.