Kothari plots an 80-million-pair footwear bet and drone contracts under a 2030 plan
The micro-cap is tying up with Taiwan's Evervan to make Crocs and Adidas shoes in Tamil Nadu, while its drone arm lands government work.
— 2 earlier stories on Kothari Industrial Corporation Ltd. →What's new
- Kothari will set up a JV with Taiwan's Evervan Shoe Town Group to manufacture Crocs and Adidas footwear in Tamil Nadu.
- The two factories will have a combined capacity of nearly 80 million pairs annually.
- Kothari holds a 30-year Kickers brand licence across nine countries and has acquired Zodiz and Jeetlo with 2,500+ retail outlets.
Why this matters
Kothari is a micro-cap company proposing a massive manufacturing scale-up through a foreign JV, alongside new brand licences and retail footprint. The ambitions are large, but the release carries no capital-commitment figures, revenue projections, or timeline for the Tamil Nadu plants. The gap between plan and proof is the story.
What we're watching
- Whether the Evervan JV progresses to a signed agreement with capex details.
- The status of Kothari's DGCA certification for indigenous drone manufacturing.
- Any financial disclosure on how this 80-million-pair capacity will be funded.
The full read
Kothari Industrial Corporation wants investors to picture it as a scaled footwear manufacturer and drone company by 2030. The headline move is a joint venture with Taiwan's Evervan Shoe Town Group to produce shoes for Crocs and Adidas across two Tamil Nadu factories with a target capacity of 80 million pairs a year. Alongside that, the company now holds a 30-year Kickers brand licence spanning nine countries and has acquired the Zodiz and Jeetlo brands, which operate through 2,500+ retail outlets. On the drone side, Kothari has landed mapping contracts with NHAI, the Kerala government, and Chennai police, and is pursuing DGCA certification to manufacture drones domestically. In agriculture, it is developing a precision platform linked to farmer identity and exploring fertilizer sourcing partnerships in Qatar and Algeria. The release is a strategic statement, not a financial one. It contains no capex figures, no funding details, and no revenue targets for any of these verticals. For a micro-cap company, the distance between this blueprint and an operational reality is considerable.
Questions answered
- What is Kothari's footwear plan with Evervan?
- Kothari will form a joint venture with Taiwan's Evervan Shoe Town Group to manufacture shoes for Crocs and Adidas at two factories in Tamil Nadu. The combined target capacity is nearly 80 million pairs a year.
- How does the drone business fit into this?
- Kothari's geospatial division has won mapping contracts with NHAI, the Kerala government, and Chennai police. It is also pursuing DGCA certification to manufacture drones domestically.
- Has Kothari committed any capital for this plan?
- The press release does not provide any capital-expenditure figures, funding sources, or concrete financial commitments for the Vision 2030 initiatives. It lays out a strategic blueprint without the numbers behind it.
- What brands does Kothari now control?
- Kothari holds a 30-year licence for the Kickers brand in nine countries and has acquired the Zodiz and Jeetlo brands. These are available through more than 2,500 retail outlets.
Story so far
All notes on KOTIC →- 6 Jun 2026 · 3:59 PM IST Kothari plots an 80-million-pair footwear bet and drone contracts under a 2030 plan
- 3d ago Kothari's auditors qualify the books. Then the company revised the loss to double.
- 15d ago Kothari Industrial Corporation signs another non-binding construction MoU