Kirloskar Ferrous Industries Ltd has strengthened its board by co-opting Mrs. Pallavi Gokhale as an Additional Director in the category of Non-Executive Independent Director, effective June 12, 2026. The appointment follows a recommendation by the Nomination and Remuneration Committee and was approved during the board meeting held on June 12, 2026. This strategic addition aims to bolster the company's corporate governance and risk management frameworks.

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-national corporations 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.

Prior to this appointment, Gokhale was associated as a partner with Ernst & Young LLP India. During her tenure there, she executed complex reengineering programs for multi-location, multi-business organisations, contributing to operational efficiencies and long-term value creation. She has collaborated with leadership teams to establish robust risk management practices.

Gokhale holds directorships in several other companies. The table below details her current directorial roles:

The company disclosed that Gokhale does not hold any equity shares in Kirloskar Ferrous Industries Ltd. Furthermore, she is not related to any other director or key managerial personnel of the company. The appointment complies with the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant circulars, confirming she is not debarred from holding the position of director by SEBI or any other authority.

Kirloskar Ferrous Industries Limited has announced that the Scheme of Arrangement for the merger of Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited with the company has become effective from April 1, 2025. This follows the filing of a certified true copy of the National Company Law Tribunal (NCLT) order, dated June 2, 2026, with the Registrar of Companies, Pune, on June 11, 2026. The transferor companies have merged into and dissolved with Kirloskar Ferrous Industries Limited without being wound up. As the transferor companies were wholly owned subsidiaries, no shares of the transferee company were issued, and the paid-up capital of the transferor companies stands cancelled.

The Board of Directors also approved the amendment to the capital clause of the Memorandum of Association. The authorized share capital is now ₹3,89,61,00,000, divided into 54,52,20,000 equity shares of ₹5 each and 11,70,00,000 preference shares of ₹10 each. This update was communicated to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

For the financial year ended March 31, 2026, the company reported a 73.4% increase in net profit to ₹504.74 crore, compared to ₹291.00 crore in the previous year. This growth was primarily driven by the absorption of the transferor companies, which enabled the utilisation of unabsorbed depreciation and carried forward losses. This resulted in a reversal of ₹110.38 crore in current tax expenses. Revenue from operations for FY26 rose 4.9% to ₹6,888.57 crore from ₹6,564.22 crore in FY25.

For the quarter ended March 31, 2026, the company posted a net profit of ₹125.74 crore, a significant increase from ₹55.01 crore in the preceding quarter ended December 31, 2025. Revenue for the quarter stood at ₹1,817.17 crore. Total income for the year grew to ₹6,950.93 crore. The company’s operating margin for the year improved to 11.96%, up from 11.52% in the prior year. Earnings per share (EPS) for the year increased to ₹30.63 from ₹17.69 in the previous year.

Merger Impact and Accounting

The financial results have been updated to reflect the merger of Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited. The merger was accounted for using the pooling of interest method under Ind AS 103. Consequently, the previous year's figures have been restated. The company also recognised a deferred tax asset of ₹141.28 crore regarding the unabsorbed losses of the transferor companies. Additionally, an exceptional item of ₹17.66 crore was recorded in the quarter ended December 31, 2025, due to changes in wage definitions under the new Labour Codes.

Key Financial Metrics