Kirloskar Ferrous Industries Limited (KFIL), a material subsidiary of kirloskar industries , has secured a significant international contract for the supply of pig iron valued at USD 13.51 Million. The order was awarded by a buyer based in London, UK, and involves the export of basic grade pig iron, marking a key development in the subsidiary's operations for the current fiscal period.

The contract stipulates the supply of 30,000 metric tonnes (MT) of pig iron, with a permissible variation of plus or minus 5%. Delivery will be executed on a Free on Board (FOB) basis against a Letter of Credit payable at sight. The agreement outlines that the latest shipment must be completed by August 15, 2026, ensuring a defined timeline for execution and revenue recognition.

KFIL confirmed that the order is from an international entity and does not involve any related party transactions. The company further stated that neither the promoters, promoter group, nor other group companies hold any interest in the entity that awarded the contract. This disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The salient details of the contract, including the nature of the order and the broad consideration, were formally communicated to the exchanges. The subsidiary's management highlighted that the contract is expected to be executed within the stipulated time frame, adhering to the shipping and trade terms specified in the agreement.

Contract Details

Kirloskar Ferrous Industries Limited (KFIL), a material subsidiary of Kirloskar Industries Limited , has appointed Mrs. Pallavi Gokhale as an Additional Director in the category of Non-Executive Independent Director, effective 12 June 2026. The appointment strengthens the governance framework of the subsidiary with the addition of a seasoned professional. The decision was taken by the Board of Directors following a recommendation from the Nomination and Remuneration Committee.

Mrs. Pallavi Gokhale, aged 54 years, is a commerce graduate, a Chartered Accountant, and a Cost Accountant. She brings over two decades of experience in consulting, having supported large Indian organisations and multi-nationals across sectors such as automotive, industrial products, metals and mining, and chemicals. Her expertise lies in risk management, process and controls optimisation, digitisation, and driving sustainable governance frameworks.

Previously associated as a partner of Ernst & Young LLP India, Gokhale has executed complex reengineering programs for multi-location, multi-business organisations. She has collaborated with leadership teams to establish robust risk management practices, contributing to operational efficiencies and long-term value creation.

Directorships

Mrs. Gokhale holds directorships in several other companies, as outlined below:

The company confirmed that Mrs. Gokhale does not hold any equity shares in KFIL and is not related to any other director or key managerial personnel of the company. She is not debarred from holding the office of a director by any order passed by SEBI or any other authority, in accordance with Circular No. LIST/COMP/14/2018-19 dated 20 June 2018.