Kirloskar Electric Company Limited has announced the schedule for remote e-voting and book closure for its 79th Annual General Meeting (AGM) scheduled for August 13, 2026. The register of members and share transfer books will remain closed from August 07, 2026 to August 13, 2026. Shareholders holding shares as on August 06, 2026 are entitled to participate in the e-voting process, which commences on August 10, 2026 and ends on August 12, 2026.

The AGM seeks shareholder approval for a preferential issue of equity shares aggregating ₹39,99,99,927.38 to Kirloskar Power Equipments Limited, a promoter group entity. The funds raised will be utilized for repayment of borrowings and general corporate purposes. Additionally, the AGM will consider the re-appointment of Mr. Vijay R Kirloskar as Executive Chairman and the appointment of Ms. Janaki Kirloskar as Joint Managing Director.

Preferential Issue Details

The Board proposes to issue 34,68,007 equity shares at a price of ₹115.34 per share, including a premium of ₹105.34 per share. The issue price is determined based on the higher of the 90-day and 10-day volume-weighted average price (VWAP) preceding the relevant date of July 14, 2026. Kirloskar Power Equipments Limited currently holds 1.73% of the paid-up equity share capital, which is expected to increase to 6.60% post-allotment.

Utilization of Funds

The proceeds from the preferential issue are earmarked for specific financial objectives. The company plans to allocate ₹25 crore towards the repayment or prepayment of borrowings, subject to lender approvals. The remaining amount of ₹14,99,99,927.38 will be used to fund working capital requirements and general corporate purposes.

Key Resolutions

Shareholders will vote on several special and ordinary resolutions. A special resolution seeks the re-appointment of Mr. Vijay R Kirloskar as Executive Chairman (Whole-time Director) for a term of three years effective August 12, 2026, with a remuneration of ₹7.5 crore per annum. Another special resolution proposes the appointment of Ms. Janaki Kirloskar as Joint Managing Director for three years from May 26, 2026 upon the terms and conditions including remuneration of ₹ 2.50 crore per annum with liberty to the Board of Directors to alter and vary the terms and conditions of the said appointment and/or agreement. The appointment is being made pursuant to Sections 196, 197 and 203 of the Companies Act, 2013 read with Schedule V thereto and applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Further, upon such appointment becoming effective, Ms. Janaki Kirloskar shall cease to hold the position of Chief Executive Officer (CEO) of the Company, and shall function exclusively in the capacity of Joint Managing Director of the Company. The Board is of the view that her appointment as Joint Managing Director will strengthen the management and strategic direction of the Company. Over the past several months Ms. Janaki Kirloskar has been working closely with the leadership team, the customers, the lenders and other stakeholders. She brings with her a deep commitment to this Company not merely as a professional but as a member of the family whose name this Company carries. The Board has every confidence that under her stewardship, the Company will grow from strength to strength.

Kirloskar Electric Company Ltd has appointed Ms. Irene J Pereira as Vice President Human Resources Transformation effective July 01, 2026. She will serve as part of the senior management team, strengthening the company's leadership in human resources strategy and organizational development.

The appointment was disclosed to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015. The company submitted the details in accordance with Para A of Part A of Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Ms. Pereira is a seasoned Human Resources professional with over 30 years of experience in Human Resource Management, Talent Acquisition, Employee Relations, Performance Management, Training & Development, Payroll, and Statutory Compliance. She holds a Master of Social Work (MSW) from Mangalore University and a Bachelor of Arts from Bangalore University.

Professional Background

Prior to this role, Ms. Pereira held key HR leadership positions at various organizations. Her experience includes roles at Bharat Toyota, Ravindu Toyota, and 3M India Ltd. She brings extensive expertise in HR strategy, industrial relations, and organizational development.

Appointment Details