Agro based raw materials such as glycerol modified linseed oil polyurethanes and cardanol based dyes were used to synthesize Interpenetrating Polymer Networks. Such biopolymers prepared using benzoyl peroxide as initiator and ethylene glycol dimethacrylate as cross-linker and not studied extensively were characterized by FTIR study and various thermal techniques such as TGA,DTG and DTA. The kinetic parameters such as activation energy (Ea) and order (n) of reaction were calculated by using the Freeman- Anderson method. In addition to the effect of change in PU/CD weight ratio and NCO/OH molar ratio of polyurethane, the effect of change in nature of diisocyanate (DI) and cardanol based dye monomer (CD) on thermal properties of such polymers was also studied.