Key Event Details
Adarsh Plant Protect Limited entered into a Memorandum of Understanding (MOU) to form a Contractual Joint Venture Agreement (CJV) with M/s Rapid Group Pvt. Ltd. and M/s Smart Solar Pvt. Ltd. (JV Partners) on 05th November, 2026.
Primary Objective
The mutual supply, distribution, and commercialization through bidding for supply and delivery of cook stoves in partnership with local level, invited by Government of Nepal, Ministry of Energy, Water Resource and Irrigation, Alternative Energy Promotion Centre.
Detailed Terms from Annexure A
Parties Involved
- Adarsh Plant Protect Limited
- M/s Rapid Group Pvt. Ltd.
- M/s Smart Solar Pvt. Ltd.
Shareholding Structure
No shareholding in the joint venture entity (Nil)
Change in Control/Management
None
Restrictions/Liabilities
None imposed upon the listed entity
Significant Terms
- Supply Framework: Adarsh Plant Protect Limited will act as the primary supplier for Cook Stoves
- Profit Sharing: Net profits generated from the joint commercial operations will be shared in a Ratio 33:34:33 proportion
Related Party Transactions
The joint venture does not fall within related party transactions (No)
Financial/Operational Impact
In case where bidding is successful, it's expected to significantly enhance the Company's product distribution reach and contribute positively to top-line and bottom-line growth starting from FY 2026-27.
Rationale for Collaboration
In case where bidding is successful, this collaboration shall maximize capacity utilization, scaling supply-chain efficiencies, and expanding market footprint without capital deployment or dilution of corporate control.