Kirloskar Ferrous Industries Limited (KFIL) has announced that its Scheme of Arrangement with Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited became operative effective April 1, 2025. The merger follows an order passed by the National Company Law Tribunal (NCLT), Mumbai Bench, on June 2, 2026. KFIL filed the certified true copy of the order with the Registrar of Companies, Pune, on June 11, 2026, in compliance with the tribunal's directives.

The transferor companies, Oliver Engineering Private Limited and Adicca Energy Solutions Private Limited, have merged into and with KFIL and dissolved without being wound up from the effective date. As the transferor companies were wholly owned subsidiaries of KFIL, no shares of the transferee company were issued in exchange for the holdings. The issued and paid-up capital of the transferor companies stands cancelled.

Consequently, KFIL has amended its capital clause in the Memorandum of Association. The authorized share capital is now ₹389.61 crore, divided into 54.52 crore equity shares of ₹5 each and 11.70 crore preference shares of ₹10 each.

Financial Performance

KFIL reported a 73.4% rise in net profit to ₹504.74 crore for the year ended March 31, 2026, compared to ₹291.00 crore in the previous year. Revenue from operations increased 4.6% to ₹6,888.57 crore from ₹6,584.22 crore in FY25. The Board of Directors recommended a final dividend of ₹3 per equity share of ₹5 each, subject to shareholder approval.

Merger Impact

The financial results reflect the effectiveness of the Scheme of Arrangement sanctioned by the NCLT. The merger resulted in the transfer of unabsorbed depreciation and carried forward losses, which were utilised during the year. Consequently, the company recognised a deferred tax asset of ₹141.28 crore and reversed a current tax expense of ₹110.38 crore, significantly boosting the bottom line.

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.