The board of DCM Shriram at its meeting held on 16 April 2026 has approved  execution of Shareholders' Agreement, Share Purchase Agreement and other transaction documents amongst the Company, Shriram Polytech (SPL), wholly owned subsidiary of the Company, and Teknor Apex B.V. (Teknor), pursuant to which the Company will transfer 50% equity stake held in SPL to Teknor, for a cash consideration of USD 5.6 million.

Consequent to the above, SPL shall cease to be wholly owned subsidiary of the Company and shall be reclassified as a Joint venture of the Company.

This partnership represents a significant milestone in DCM Shriram's strategy to strengthen and grow its advanced materials Polymer compounds portfolio, and expand and develop its global partnerships in high-growth sectors. By combining Shriram Polytech's strong domestic presence and manufacturing capability deep expertise in vinyl compounds with Teknor Apex's global formulation capabilities, the joint venture aims to deliver high performance and technically advanced, sustainable specialty polymer solutions for diverse industrial applications.