Delta Manufacturing Limited announced that MMG Ferrites Private Limited, has been incorporated as a wholly owned subsidiary of the Company, as per the provisions of Companies Act, 2013. MMG Ferrites Private Limited (MFPL) has been incorporated on May 02, 2024 as a wholly owned subsidiary of the Company. MFPL is intended to be the joint venture company between Delta Manufacturing Limited (DML) and PREMO, S.L. to undertake the business of soft ferrite manufacturing.

Authorized Capital: INR 10,000,000 comprising of 1,000,000 equity shares of INR 10 each. Paid Up Capital: INR 1,000,000 comprising 100,000 equity shares of INR 10 each. Turnover/Size:- Not Applicable.

MFPL has been incorporated as a wholly owned subsidiary of the Company. The promoter/promoter group of the Company will not have any direct interest in MFPL. MFPL is proposed to serve as the joint venture company of the Company and PREMO, S.L. Further, MFPL and the Company have common promoters and members of the promoter group.

MFPL will undertake business as manufacturers and dealers in Soft Ferrite, Electronic instruments, Electronic and Electric Equipment, Electronic Components, Magnetic Tapes etc. MFPL is intended to be the joint venture company between PREMO, S.L. and the Company to undertake the aforesaid business. Incorporation of new company will be tentatively completed by June 30, 2024.