Kennametal India Limited has announced a key senior management appointment, strengthening its leadership team with an experienced industry professional. The company's Board of Directors approved the appointment during a meeting held on March 30, 2026, following a recommendation from the Nomination and Remuneration Committee.

Board Meeting Details

The Board of Directors of Kennametal India Limited convened on March 30, 2026, to deliberate on senior management appointments. The meeting commenced at 5:30 PM and concluded at 5:48 PM, during which the directors approved the appointment based on the Nomination and Remuneration Committee's recommendation.

Senior Management Appointment

Mr. Akshay Kulkarni, who currently serves as Senior General Manager - Sales, has been appointed as Senior Management of the company. The appointment takes effect immediately from March 30, 2026, with no specific term mentioned for the position.

Professional Background

Mr. Kulkarni brings extensive experience to his new role, with over 22+ years in the engineering and industrial manufacturing sector, particularly specializing in metal cutting and industrial solutions. His educational credentials include a Bachelor's Degree in Mechanical Engineering and a Master's degree in Management.

Before joining Kennametal India Limited, he held key leadership positions with globally recognized organizations including Johnson Controls and 3M India Limited. His diverse experience across these organizations has enabled him to develop expertise in strategic sales leadership, customer engagement, and business growth in complex industrial markets.

Career Progression at Kennametal

Mr. Kulkarni's journey with Kennametal India Limited began on May 2, 2024, when he joined as National Sales Manager with the designation of General Manager. His performance and leadership capabilities led to a promotion to Senior General Manager - Sales, recognizing his strong business acumen and the significant impact he delivered within a short timeframe.

Regulatory Compliance

The appointment disclosure was made pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided comprehensive details as required under SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, ensuring full regulatory compliance in announcing this senior management change.

Kennametal India Limited has announced a postal ballot notice seeking shareholder approval to enhance the limits of material related party transactions with two key global entities for the financial year 2025-26. The notice, dated February 5, 2026, addresses the need for increased transaction limits due to unprecedented raw material price increases affecting the company's operations.

Enhanced Transaction Limits Proposed

The company is seeking approval for two ordinary resolutions to enhance existing transaction limits that were previously approved through a postal ballot on June 25, 2025. The proposed enhancements are substantial and reflect the current market dynamics affecting the hard metal products industry.

Kennametal Inc., USA Transaction Enhancement

The first resolution seeks to enhance transaction limits with Kennametal Inc., USA, the company's ultimate holding company:

Kennametal Europe GmbH, Switzerland Transaction Enhancement

The second resolution addresses transaction limits with Kennametal Europe GmbH, Switzerland, a fellow subsidiary:

Business Rationale and Strategic Importance

The proposed enhancements are driven by several key business factors. The company has experienced unprecedented increases in raw material prices, which continue to rise and significantly impact both purchase values and sales values. These transactions are essential for the company's operations as they involve products that cannot be manufactured at Kennametal India Limited due to capability or capacity constraints.

The purchase transactions leverage deep domain expertise and inherent understanding of the company's technical and commercial requirements, resulting in more efficient procurement and streamlined operations. Sales transactions are conducted at arm's length basis with margins determined through robust global transfer pricing policies, helping the company achieve better overhead absorption.

E-Voting Process and Timeline

The company has established a comprehensive e-voting schedule for shareholder participation:

The postal ballot notice is being sent electronically to shareholders whose email addresses are registered with the company, depositories, or depository participants. Mr. Vijayakrishna K T, Practising Company Secretary, has been appointed as the scrutinizer for conducting the e-voting process.

Regulatory Compliance and Governance

The proposed transactions comply with SEBI Listing Regulations, particularly Regulation 23, which requires shareholder approval for material related party transactions. The enhanced limits qualify as material modifications under the company's policy, requiring prior shareholder approval through ordinary resolutions.

The Audit Committee and Board of Directors have reviewed and approved these proposals, confirming that the transactions are in the ordinary course of business, conducted at arm's length, and in the best interest of the company. The transactions are supported by quarterly reviews conducted by reputed third-party audit firms and annual transfer pricing studies submitted to revenue authorities.