Kirloskar Ferrous Industries has co-opted Ajay Shiram Patil as an additional director and appointed him as joint managing director. The board also named Ankur Gupta as deputy chief financial officer.

Patil’s appointment, effective September 21, 2026, is subject to member approval. He will serve a three-year term as a key managerial person.

Leadership Changes

The board’s decision adds depth to the executive structure. Gupta assumes the role of deputy CFO effective October 1, 2026, after serving with Motherson Sumi Systems Limited and Surya Roshni.

These appointments signal a focus on experienced management for future growth initiatives.

Kirloskar Ferrous Industries Limited has commenced operations of an additional 35 MW DC Solar Plant at Mantha, Helas, Jalna, Maharashtra, on August 6, 2026. The commissioning of this facility enhances the company's total solar capacity at the Jalna location to 105 MW DC. This expansion supports the company's strategy to utilise captive power generation for its operations, aiming to reduce overall power costs through self-sufficiency.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and serves as a continuation of earlier communications regarding the project, specifically referencing letter No. 3148/25 dated January 31, 2025. The company informed BSE Limited via Ref No. 3359/26 on August 7, 2026, confirming that installation works are complete and operations have officially begun.

Project Financials and Funding

The project cost for the capacity enhancement was approximately ₹97 crore, net of recoverable taxes. The company financed this expenditure through a combination of borrowing and internal accruals. The following table summarises the key parameters of the project:

Operational Impact

Power generated from the solar plants will be utilised for captive consumption by Kirloskar Ferrous Industries. The primary benefit cited by management is the reduction in power costs associated with grid purchases or alternative energy sources. By shifting to captive solar power, the company aims to stabilise its energy expenditure profile against market volatility in electricity prices. The use of internal accruals alongside borrowing reflects a balanced approach to capital allocation, preserving liquidity while securing long-term cost savings on power bills.