Cardanol, a meta substituted phenol is a renewable organic resource obtained as a byproduct of the cashew industry. It is used for the production of polyurethanes. The cardanol-furfural resin has been synthesized by the condensation of cardano l with furfural in the presence of adipic acid catalyst and using varied molar proportion of the r eacting monomers. The synthesized cardanol- furfural resin has been characterized by different physico-chemical techniques. The characterized furfuralated cardanol novolac resin h as been condensed with toluene diisocyanate to produce hard segment polyurethanes. Soft segment polyurethanes are prepared by condensing the commercial polyol, polypropylene glycol-1200 (P PG-1200) with toluene diisocyanate and cardanol-furfural resin. Thermal stabilities of the polyurethanes were determined by Differential thermal analysis (DTA) and Thermo gravimetric analy sis (TGA).Thermal decomposition curves were studied carefully with minute details. The Hor owitz - Metzer and Broido methods have been used in the present investigation to calculate ther mal activation energy. Thermal activation energy (E a ) calculated with above two mentioned methods are i n close agreement.