Date: October 14, 2026
Joint Venture Termination Details
1. Joint Venture Agreement Termination
- Agreement dated October 14, 2024 with Marvels International Group Company Limited (Seychelles) and Marvel Refractories (Anshan) Company Limited (PRC) is terminated
- Termination effective date: October 14, 2026
- Termination resulted from mutual discussions between parties
- Marvels International Group Company Limited did not contribute towards shares proposed to be allotted in JV entity
- Current shareholding: IFGL Refractories Limited holds 100% of IFGL-Marvels Refractories Limited (JV Entity)
2. Representation Agreement Termination
- Agreement dated December 19, 2023 with Marvel Refractories (Anshan) Company Limited
- Termination effective date: November 9, 2026 (upon expiry of notice period)
3. Original Joint Venture Purpose
- Manufacturing facility in India for Basic Fired Magnesite Spinel Bricks, Basic Fired Magnesite Bricks, and Fired Magnesia Chrome Bricks
- Envisaged shareholding: 51% by IFGL Refractories Limited, 49% by Marvels International Group Company Limited (Seychelles)
4. Impact Assessment
- No material financial or operational impact on the Company is presently envisaged
- No change in JV Entity shareholding due to termination as Marvels never subscribed to shares
- Entire shareholding of JV Entity remains with IFGL Refractories Limited
5. Regulatory Compliance
- Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Reference to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
- Disclosure hosted on company website: https://ifglgroup.com
6. Company Information
- Head & Corporate Office: McLeod House, 3 Netaji Subhas Road, Kolkata 700 001, India
No material disclosures under the following sections: KMP / Board / Auditor Changes, Dividend Declaration, Board Meeting Outcomes, Financial Results, Auditor's Report, Disinvestment / Strategic Actions, Media Release / Investor Communication