Kothari Industrial Corporation Ltd (KICL), the flagship company of the D.C. Kothari Group, is looking to accelerate its next phase of growth in Tamil Nadu, with a strategic relationship with Qatar emerging as a key element of its expansion plans.
At the company’s 56th Annual General Meeting in Chennai, Executive Chairman Jinnah Rafiq Ahmed outlined plans spanning footwear manufacturing, design education, fertilisers, drones, food, FMCG and new industrial initiatives.
He said Sheikh Jassamal Al Thani has expressed confidence in KICL and interest in supporting and participating in its growth initiatives in Tamil Nadu.
Qatar relationship to support expansion
Ahmed said KICL’s relationship with Sheikh Jassamal Al Thani and the ruling family of Qatar has been built around trust, mutual respect, confidence and a shared vision for long-term growth.
The company expects the relationship to support investments and new initiatives as it seeks to build multiple engines of growth in Tamil Nadu.
He said its strategy has shifted towards transparency, professional management, strategic investments and diversification following the challenges faced by the company over the past decade.
Growth accelerates across footwear
Footwear remains one of KICL’s principal growth engines. The company said growth increased 42% in 2023-24 and 535% in 2024-25, while growth in 2025-26 is expected to exceed 95%.
The company said its footwear volumes have increased from 1 million pairs to 3 million and then 5 million pairs. It is targeting 10 million pairs next year, with an eventual ambition of reaching 100 million pairs.
KICL’s footwear interests include Phoenix Kothari Park at Padalur, the Karur Adidas facility and its consumer brands Kickers, Zodiz and Jeetlo.
The company is also working with global manufacturing partners to bring international expertise, technology and innovation into India’s footwear ecosystem.
Madurai project targets new industrial activity
KICL’s 225-acre Madurai project is emerging as a major new growth platform. The company is working on the development and has identified two strategic collaborations for the project.
KICL said it is targeting commencement of the project by the end of this year, subject to completion of the required processes and finalisation of the collaborations.
The project is envisaged as a platform for industrial and economic activity in southern Tamil Nadu, with potential to create employment and attract new businesses and capabilities.
The company also announced Ramanathapuram as a new initiative under its Phoenix Kothari Footwear strategy. KICL is evaluating opportunities in the region, with a focus on projects that can contribute to local economic development and employment.
Design education project takes shape in Hosur
KICL’s collaboration with Italy-based IUAD is another major initiative. The partnership aims to bring international design education to India through a campus being developed in Hosur near Bengaluru.
Short-term programmes are expected to begin from November, followed by regular degree programmes from April 2027.
The initiative will use a “learning by doing” approach and offer exposure to global design practices across footwear, fashion, apparel, jewellery, furniture, interior design and fashion management.
KICL said the objective is to develop Indian design professionals capable of competing in global markets and contributing to the country’s manufacturing and creative economy.
Fertilisers remain a legacy business
KICL also plans to rebuild its fertiliser business around the recognition of the Kothari name among farmers.
The company said the Blue Horse logo has strong brand recognition and intends to use this heritage and brand equity to strengthen its position in the fertiliser sector and develop the business as another growth platform.
Drone business moves towards manufacturing
KICL’s drone business, which initially focused on services, is now being expanded towards manufacturing and technology development.
The company sees opportunities in agriculture, industrial applications and other emerging sectors as India’s domestic drone ecosystem expands.
FMCG to add another growth engine
KICL has entered the fast-moving consumer goods (FMCG) sector as it seeks to participate in India’s expanding consumption economy.
The company plans to build brands backed by professional teams, long-term investment and scalable business models.
Ahmed said KICL is no longer looking at its businesses in isolation but is building a diversified portfolio aimed at creating sustainable value for shareholders and other stakeholders.
KICL targets higher growth
KICL is targeting minimum 3x growth next year, while its chairman has set an ambition of achieving 5x growth, supported by investments, partnerships, brands and new businesses under development.
He said several additional projects and investment opportunities, including initiatives in Tamil Nadu, have already been identified. Details will be announced after relevant discussions and transactions are concluded because of confidentiality obligations and existing non-disclosure agreements.
KICL’s stated ambition is to transform itself into a diversified conglomerate by FY2027, with investments across multiple sectors developing into businesses capable of delivering sustainable returns.