Nature of the Event

CFF Fluid Control Limited has entered into a binding Joint Venture Agreement with TKMS ATLAS ELEKTRONIK GmbH for establishing a joint venture company in India focused on underwater naval systems.

Key Quantitative Figures

  • Joint venture ownership: 51% held by CFF Fluid Control Limited, 49% held by TKMS
  • CFF employee count: More than 260 employees
  • TKMS employee count: More than 10,200 employees (including temporary workers)
  • CFF's naval experience: 14 years serving Indian Navy across more than 60 vessels and 11 programs

Dates of Action

  • Board meeting date: November 06, 2026
  • Agreement signing date: November 06, 2026
  • Teaming Agreement originally signed: 2023
  • TKMS legal name change effective: June 2025

Parties Involved

  • CFF Fluid Control Limited (Indian partner, BSE Scrip Code: 543920)
  • TKMS ATLAS ELEKTRONIK GmbH (German partner, segment of TKMS)
  • New entity: TKMS CFF Defence Systems Private Limited
  • Indian Navy (primary customer)

Entity Details

CFF Fluid Control Limited:

  • Manufacturing facilities: Khopoli and Chakan, Pune, Maharashtra (both ISO 9001:2015-certified)

TKMS:

  • Official company name: TKMS AG & Co. KGaA (since June 2025)
  • Operating company: TKMS GmbH
  • Shipyard locations: Kiel, Wismar, and Itajaí (Brazil)
  • Kiel site employees: Approximately 3,900

Purpose and Rationale

  • Advance India's "Make in India" initiative through local manufacturing, system integration, and comprehensive through-life support
  • Focus on anti-submarine warfare (ASW) and underwater defence systems
  • Combine TKMS's sonar and sensor technologies with CFF's engineering, mechanical and electronic systems expertise
  • Build indigenous industrial capability across indigenization, manufacturing, integration, and through-life support
  • Serve Indian Navy's current and future underwater-domain requirements

Operational Details

  • JV company registered office: Mumbai
  • Manufacturing and integration operations: Purpose-built electronics and systems facility in Chakan, Pune, Maharashtra
  • The JV represents the next stage of partnership development following the 2023 Teaming Agreement

Financial Impact

Financial impact not quantified in the disclosure.

Management Commentary

Michael Ozegowski, Executive Vice President of TKMS ATLAS ELEKTRONIK: "With this joint venture, we are taking our strategic partnership with CFF Fluid Control Limited to the next level and underlining our long-term commitment to the Indian Navy and India's defence industry. Together, we are creating a strong local base for indigenous anti-submarine warfare solutions in full support of the 'Make in India' initiative."

Sunil Menon, Managing Director of CFF Fluid Control Limited: "Our partnership with TKMS is a testament to the trust we have earned as a reliable partner – through our engineering capabilities, integration expertise, and commitment to execution. By bringing together TKMS's proven underwater-defence technology and CFF's engineering and manufacturing strengths, we aim to build enduring Indian capability, rather than simply transfer technology."