Kirloskar Industries Ltd

Postal Ballot record date

• Purpose: identify Members for postal ballot notice and enable e-voting.
• Record date: fixed as Friday, 28 August 2026.
• Action: Postal Ballot through remote e-voting for relevant business.
• Scrutinizer: Manasi Paradkar appointed; NSDL to provide e-voting facility.

agm details

• AGM held Aug 18, 2026 at 11:30 IST via VC/OAVM; record date Aug 11, 2026.

key resolutions

• Resolution 1: Adoption of financial statements for year ended 31 March 2026.
• Resolution 2: Dividend declaration for the year.
• Resolution 3: Rotation-based re-appointment of a director.
• Resolution 4: Appointment of Statutory Auditors.
• Resolution 5: Rotation/appointment of Executive Director.

voting results

• All five resolutions passed with requisite majority.

dividend

• Dividend approved; per-share amount not disclosed in excerpt.

director changes

• Rotation-based re-appointment of a director and re-appointment of Executive Director approved.

auditors

• Statutory auditors appointed; tenure and firm name not disclosed in excerpt.

related party transactions

• No material related party transactions disclosed in excerpt.

other material approvals

• No additional material approvals disclosed in excerpt.

AGM Details

• AGM held on 18 Aug 2026 at 11:30 IST via VC/OAVM.
• Meeting duration 11:30–12:39 IST.

Key Resolutions

• Receive and adopt audited standalone and consolidated financial statements for FY ended 31 March 2026.
• Dividend of ₹13 per equity share (130%) for FY ending 31 March 2026.
• Re-appoint director Vinesh Kumar Jairath, retiring by rotation.
• Re-appoint statutory auditors Kirtane & Pandit LLP for second five-year term; remuneration to be fixed.
• Re-appoint director Anil Alawani, retiring by rotation, for one-year term to 2027.

Voting Status

• Voting results will be submitted separately with Scrutinizer's report.

Key investor updates

• KFIL, Kirloskar Ferrous’ material subsidiary, intimated regulatory disclosures to stock exchanges under Listing Regulations.
• Forest development fee contingent liability of INR 350 crores disclosed; Supreme Court judgment pending.
• Power trading regulation reduces green-power benefits; 8 hours of green power; impact on costs.
• Capex outlook: INR 600–700 crores this year; INR 3,000–3,500 crores over four years.
• Solapur two-part foundry capacity 1,250 MT/month; no-bake casting foundry to commission by Oct.
• Rajpura Phase 1 expansion to 40–50k MT/year; Phase 2 to 70k MT.
• Total realizable capacity across six foundries targeted at about 270k MT/year.
• Strategic projects: Koppal steel plant, Baramati expander mill, pellet plant, and ore mines progress.

Resignation of Independent Director

• Change type: Resignation of Independent Director Vijay Varma.
• Name and designation: Vijay Varma, Independent Director.
• Effective date: close of business on 30 September 2026.
• Reason: pre-occupations/personal commitments.
• Directorships held: Kirloskar Ferrous Industries Limited; Kirloskar Industries Limited.
• Committee roles at Kirloskar Industries Limited: Audit (Member), Stakeholders Relationship (Member), CSR (Member).
• Confirmation: No material reasons beyond those in resignation letter.

Consolidated financials

• Consolidated revenue ₹1,798.7 crore; PAT ₹79.2 crore (Q1 FY27).

Standalone financials

• Standalone total income ₹16.7 crore; PAT ₹7.1 crore; revenue +12%, PAT -9% YoY.

Subsidiary performance

• Kirloskar Ferrous revenue up 4% YoY; castings volume +18%; steel +13%.

Real estate

• Avante Business Park project progressing as planned.

Prior-year adjustments

• Q1 FY26 PAT includes deferred tax on unabsorbed depreciation and carry-forward losses from Oliver and Adicca merger.

Financial results approved

• Standalone and Consolidated unaudited results for quarter ended 30 June 2026 approved; reviewed by Kirtane & Pandit.
• Limited Review Report dated 12 August 2026 enclosed.

Capital actions

• 208 equity shares allotted under ESAR; paid-up capital increased to Rs 10,50,95,800.
• ESAR exercise completed; new total paid-up capital reflects 208 shares.

Governance: Independent Director appointment

• Sandeep Gokhale recommended as Independent Director for five-year term from 1 September 2026.
• Postal Ballot approved to obtain member approval for his appointment.
• Gokhale not debarred from holding director office.

Regulatory and other disclosures

• One-time exceptional item of Rs 29.33 crore for stamp duty on ISMT merger into KFIL.
• Comparatives restated due to merger; deferred tax asset recognized on appointed date.
• Wind power assets and certain subsidiaries classified as held for sale; KBL not an Associate.
• Independent Auditor's Review Reports issued; no audit opinion due to interim review.

Material subsidiary update

• KFIL, Kirloskar Industries’ listed material subsidiary, filed Regulation 30 intimation with stock exchanges.

Solar capacity expansion at Jalna

• Additional 35 MW DC solar plant at Mantha, Helas, Jalna, Maharashtra; operations commenced 6 Aug 2026.
• Total Jalna solar capacity now 105 MW DC.
• Project cost around ₹97 Crores net of recoverable taxes.
• Financed by borrowings and internal accruals.
• Power generated for captive consumption, reducing power costs.