Kirloskar Industries reported that Vijaydipak Mukundprasad Varma retired as an Independent Director of its material subsidiary, Kirloskar Ferrous Industries Limited (KFIL), effective September 30, 2026.

The retirement was executed pursuant to a resolution passed by the members of KFIL at their annual general meeting held on September 24, 2024. KFIL is a listed entity and a material subsidiary of Kirloskar Industries.

Regulatory disclosure

The company filed the intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates timely disclosure of material events to stock exchanges. The filing was made to BSE Limited and National Stock Exchange of India Limited.

Kirloskar Ferrous Industries placed on record its sincere appreciation for Varma's valuable contribution during his tenure. The company secretary of KFIL, Mayuresh Gharpure, signed the intimation dated October 1, 2026.

Subsidiary governance update

The retirement marks a change in the board composition of KFIL. As a listed material subsidiary, changes in its key managerial personnel or directors are significant for parent company investors. The disclosure ensures transparency regarding governance shifts within the group structure.

Kirloskar Industries has appointed Ajay Shiram Patil as Joint Managing Director, effective September 21, 2026. The Board also approved his appointment as an Additional Director.

Patil’s appointment extends to Kirloskar Ferrous Industries Limited (KFIL), a listed material subsidiary of the company. KFIL’s Board approved Patil as its Joint Managing Director in a meeting held on the same date. His term at both entities runs from September 21, 2026, to September 20, 2029.

Leadership Appointments

The Kirloskar Industries Board designated Patil as a Key Managerial Person. The appointment follows a recommendation by the Nomination and Remuneration Committee. Patil, aged 62, brings over 36 years of leadership experience from multinational industrial organizations including Cummins, Honeywell, and Eaton.

R. V. Gumaste, Managing Director at KFIL, stated that Patil’s expertise in business strategy and transformation would strengthen leadership bandwidth and align with sustainable growth priorities.

Patil previously served as Global Chief Financial Officer of RSB Transmission (India) Limited, a Bain Capital portfolio company. He holds board positions at Ingersoll Rand (India) Limited and KSH International Limited. He is also associated with the School of Sustainability at IIT Madras.

Senior Management Addition

Ankur Gupta has been appointed as Deputy Chief Financial Officer, effective October 1, 2026. Gupta, 46, is a Chartered Accountant with 25 years of experience in engineering and automotive sectors.

He currently serves as CFO of the B2B business at Kirloskar Oil Engines Limited. Prior roles include stints at Motherson Sumi Systems Limited and Surya Roshni Limited.

Regulatory Disclosures

The company filed intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. A cut-off date of October 2, 2026, was fixed for postal ballot voting rights.

Kirloskar Ferrous Industries Limited also filed related intimations with stock exchanges regarding the outcome of its Board Meeting held on September 21, 2026.