KICL signs LoI with Sharjah company to explore joint partnership

The Chennai-based Kothari Industrial Corporation Limited Company, has signed a Letter of Intent (LOl) with Sharjah Environment Company LLC, (Beeh’s) a company based in Sharjah, UAE on March 27 to conditionally explore a potential partnership with the company.

As per the Lol, both parties intend to evaluate the possibility of establishing a joint venture in Chennai to provide services in the field of environmental and waste management. The Lol reflects the mutual intent of both parties to jointly participate in government issued tenders related to waste management services in Chennai, says a KICL communication to the Bombay Stock Exchange.

The collaboration aims to explore potential opportunities in the environmental and waste management sector, subject to the execution of binding agreements in the future, the communication says.

For the fourth quarter ended March 31, 2025, the company reported a reduced net loss of ₹13 crore on revenue of ₹26 crore as against a net loss of ₹15 crore on revenue of ₹25 crore the corresponding quarter last year. In FY25, there was other income of ₹62 crore.

For FY25, net loss dropped by half to ₹16 crore on revenue of ₹66 crore as against net profit of ₹32 crore on revenue of ₹14 crore. In FY24, there was other income of ₹63 crore.

Published on May 31, 2025