Announced Wed, 1 Apr · 14:58 IST

Announcement under Regulation 30 of SEBI (LODR) Regulations, 2015- Support Services Agreement with Cosmo First Limited

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+18.5%1-day move

₹90.20

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₹100.00

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AI summary

Cosmo Ferrites Ltd has entered into a one-year support services agreement with Cosmo First Limited starting April 1, 2026. Cosmo First Limited is a related party as both companies share common promoter Mr. Ashok Jaipuria. The agreement requires Cosmo Ferrites to pay a consolidated fee of Rs. 2.00 lakhs per month plus applicable GST, totaling approximately Rs. 24 lakhs annually. Out-of-pocket expenses will be reimbursed on actual basis. The transaction has been disclosed as a related party transaction conducted at arm's length. Either party can terminate the agreement with 30 days' notice.

Likely market impact

This is a routine administrative arrangement between related parties at arm's length pricing. The financial impact is minimal at approximately Rs. 24 lakhs annually, unlikely to have any material effect on the company's financials or stock price.