Master Components Limited Approves 50:50 Joint Venture with Prathamesh Industries for Composites Manufacturing

Master Components Limited 's Board of Directors, at its meeting held on May 15, 2026, approved entering into a Joint Venture Agreement with Prathamesh Industries (India) Limited to incorporate a new Private Limited company in India. The decision was disclosed to the National Stock Exchange of India Ltd. under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formal Joint Venture Agreement is to be executed within 60 days of the board approval.

Joint Venture Structure and Key Parameters

The proposed JV Company will be incorporated as a Private Limited Company under a name to be jointly applied by both partners and made available by the Registrar of Companies. The shareholding will be split equally between the two entities. The following table summarises the key parameters of the joint venture:

Parameter: Details JV Partner: Prathamesh Industries (India) Limited JV Partner CIN: U22207PN2026PLC252324 JV Partner Registered Office: E-9, Nagapur, MIDC Area, Ahmednagar - 414111, Maharashtra, India JV Ratio: 50:50 JV Company Structure: Private Limited Company Initial Paid-up Share Capital: INR 10,00,000/- (Rupees Ten Lakhs Only) Share Face Value: INR 100/- (Rupees Hundred) each Class of Shares: Equity Shares Shares per Partner: 5,000 (Five Thousand) equity shares each Agreement Execution Timeline: Within 60 days Market Scope: Domestic and International

Business Scope of the Proposed JV

The proposed Joint Venture Company will engage in the manufacturing, processing, compounding, moulding, buying, selling, importing, exporting, and otherwise dealing in raw materials including Sheet Moulding Compound (SMC) and Dough Moulding Compound (DMC) and other composites. The JV aims to serve both domestic and international markets, with the primary scope defined for Indian markets. Additional business matters may be agreed upon by both partners from time to time.

Governance and Board Representation

The governance structure of the JV Company will reflect the equal partnership between the two entities. Key governance terms include:

Each partner will nominate one (1) director on the Board of the JV Company, with the right to replace their nominee at any time.

First Directors nominated by either party shall hold office at the sole discretion of the nominating party.

Master Components Limited shall have the right, but not the obligation, to nominate a candidate for the position of Chief Executive Officer (CEO) of the JV Company.

Prathamesh Industries (India) Limited shall have the right, but not the obligation, to nominate a candidate for the position of Chief Operations Officer (COO) of the JV Company.

Any change in the capital structure, classified as a "reserved matter," shall require an affirmative vote of 3/4th of the shareholders present and voting at the General Meeting.

Both partners shall always maintain equal proportion in the paid-up share capital of the JV Company.

Related Party and Financial Considerations

The subscription to the share capital of the JV Company does not fall within the purview of a Related Party Transaction for Master Components Limited at the time of execution. However, post-subscription, the JV Company will become an Associate Company of Master Components Limited and will thereafter be considered a Related Party. The promoter/promoter group/group companies have no interest in the JV Company beyond the share capital to be held by Master Components Limited. No conflict of interest has been identified arising from the execution of the Joint Venture Agreement.

The following table provides the size details of the entities involved, as disclosed:

Entity: Turnover (FY 2024-2025) Master Components Limited: Rs. 42,40,30,803/- Prathamesh Industries (India) Limited: Rs. 71,38,78,326.70/- Proposed JV Company (Initial Paid-up Capital): Rs. 10,00,000/-

Note: Prathamesh Industries (India) Limited was formed by conversion of a partnership firm into a public limited company under Chapter XXI of the Companies Act, 2013. The turnover stated is of the partnership firm as per the last audited financial statements for FY 2024-2025.

Disclosure and Compliance

The intimation was signed by Mr. Shrikant Hanamant Joshi, Managing Director and Chairman of Master Components Limited, and submitted to the National Stock Exchange of India Ltd. on May 15, 2026. Master Components Limited has stated that it will furnish the requisite disclosures to the exchanges upon the incorporation of the JV Company as required under the Listing Regulations. There will be no change in the Board of Directors of the listed entity as a result of this agreement.

Master Components Limited , an IATF16949:2016 and ISO 9001:2015 certified company headquartered at MIDC Ambad, Nashik, has announced the receipt of a purchase order for the supply of electrical products from a domestic entity. The order, valued at approximately Rs. 40,26,078.58 including tax, was disclosed to the National Stock Exchange of India Ltd. on May 13, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Order Details

The purchase order has been awarded by a domestic company whose name has not been disclosed due to competitive sensitivity reasons. The key terms and parameters of the order are outlined below:

Parameter: Details Nature of Order: Supply of electrical products Order Value: Rs. 40,26,078.58 (approximately, including tax) Awarding Entity: Domestic Company (name withheld) Entity Type: Domestic Execution Deadline: June 25, 2026 Payment Terms: Within 45 days from GRN date Related Party Transaction: No Promoter/Group Interest: No

Compliance and Disclosure

The intimation was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, and SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The company has confirmed that neither the promoter, promoter group, nor group companies hold any interest in the awarding entity, and the transaction does not qualify as a related party transaction. The disclosure was signed by Mr. Shrikant Hanamant Joshi, Managing Director and Chairman of Master Components Limited.

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