Kirloskar Industries informed stock exchanges that its material subsidiary, Kirloskar Ferrous Industries Limited (KFIL), has commenced a postal ballot process to seek member approval for the appointment of Ajay Shiram Patil as Joint Managing Director. The e-voting facility is open from October 7, 2026, to November 5, 2026.

Appointment details and remuneration

The postal ballot includes two ordinary resolutions. The first seeks the appointment of Mr. Patil as a Director liable to retire by rotation. The second resolution approves his appointment as Joint Managing Director for a three-year term from September 21, 2026, to September 20, 2029. This follows his co-option as an Additional Director and JMD by the Board on September 21, 2026.

The proposed remuneration structure for Mr. Patil includes a monthly basic salary of ₹15,77,870 and a special allowance of ₹9,38,796. Additionally, he is entitled to a one-time joining bonus of ₹1,25,00,000, payable in two equal installments. Perquisites include fully furnished residential accommodation valued at up to ₹1,50,000 per month, family mediclaim insurance with a premium cap of ₹2,00,000 per annum, and leave travel assistance not exceeding ₹2,50,000 per month.

Profile of the appointee

Mr. Ajay Shiram Patil is a Post Graduate in Commerce and a Cost and Management Accountant (CMA) with over 36 years of leadership experience in multinational industrial and manufacturing organizations. His career spans roles at Cummins, Honeywell, and Eaton, where he held regional and global leadership positions across Asia Pacific, the Middle East, Africa, and the Americas. He previously served as the Global Chief Financial Officer of RSB Transmission (India) Limited.

E-voting procedure and timeline

The e-voting period commences on Wednesday, October 7, 2026, at 9:00 am and ends on Thursday, November 5, 2026, at 5:00 pm. Members holding equity shares in physical or electronic form as of the cut-off date, Friday, October 2, 2026, are eligible to vote. Voting rights are proportional to paid-up equity share capital held on the cut-off date.

National Securities Depository Limited (NSDL) has been engaged to provide the e-voting facility. Members can cast their votes electronically via the NSDL website or through their depository participant portals. The notice has been sent exclusively in electronic form to members whose email addresses are registered with the company or depositories, in compliance with MCA circulars.

Ms. Manasi Paradkar, Practicing Company Secretary, has been appointed as the Scrutinizer to oversee the e-voting process. Her report will be submitted to the Chairman or an authorized Director on or before Saturday, November 7, 2026. The results, along with the Scrutinizer's report, will be published on the company's website and those of BSE and NSDL.

Kirloskar Industries Limited shareholders approved the appointment of Sandeep Gokhale as an independent director for a five-year term. The special resolution passed with overwhelming support during the recent postal ballot voting process.

The appointment is effective from September 1, 2026, to August 31, 2031. This decision follows the scrutiny of votes cast through electronic means and postal ballot, ensuring compliance with regulatory standards. The company disclosed the results under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on October 5, 2026, citing earlier intimations dated August 12, 2026, and September 4, 2026.

Voting results overview

The resolution received 54,87,127 votes in favor and 1,102 votes against. This translates to 99.98% support among valid votes polled. The total number of members who voted was 185, representing a significant portion of the voting base.

What the numbers show

The voting pattern highlights strong alignment between the promoter group and institutional investors. Promoters cast 51,85,687 votes, all in favor, constituting the majority of the total votes polled. Public institutions showed slightly lower consensus with 672 dissenting votes, yet still maintained a 99.35% approval rate. Non-institutional public shareholders also demonstrated high confidence, with only 430 votes against out of nearly 2 lakh votes cast.

The high turnout from promoters relative to public shareholders suggests that the outcome was heavily influenced by insider support, though minority holders largely concurred with the board's recommendation.