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 utilize 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. It 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 the 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. There were no mentions of external equity funding or specific grant subsidies in the filing.

Operational Impact

Power generated from the solar plants will be utilized 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 stabilize its energy expenditure profile against market volatility in electricity prices.

What the Numbers Show

The move to 105 MW DC capacity represents a significant scaling of renewable energy infrastructure for the firm. With a project cost of ₹97 crore for the 35 MW addition, the implied capital cost per megawatt is approximately ₹2.77 crore. This investment highlights a strategic shift towards vertical integration in energy supply, reducing dependency on external vendors for a major operational input. The use of internal accruals alongside borrowing suggests a balanced approach to capital allocation, preserving liquidity while securing long-term cost savings on power bills.

Kirloskar Ferrous Industries Limited shareholders have approved changes to its Board composition, reinforcing governance oversight through the appointment and reappointment of independent directors. At the annual general meeting held on August 5, 2026, members approved the reappointment of Mr. Sathya Moorthy Venkataramani and the appointment of Mrs. Pallavi Pratap Gokhale to serve as Independent Directors.

The appointments were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company disclosed these updates to BSE Limited on August 6, 2026, continuing from an earlier communication dated the same day. These board-level changes ensure continuity in independent oversight while adding new expertise to the Board.

Director Appointments

The Board has structured the tenures of the incoming directors to align with regulatory requirements for independent director terms. The specific details of the appointments are outlined below:

Mr. Sathya Moorthy Venkataramani, bearing DIN 00229998, was reappointed to hold office for another term extending until October 21, 2031. His continued service provides stability to the Board’s independent segment.

Mrs. Pallavi Pratap Gokhale, bearing DIN 00036369, was appointed as a new Independent Director. Her term is set to conclude on June 11, 2031. Her appointment introduces fresh perspective to the Board’s deliberations.

Governance Implications

The reappointment of Mr. Venkataramani ensures that institutional memory and established relationships with stakeholders remain intact within the independent director framework. Meanwhile, the appointment of Mrs. Gokhale expands the Board’s diversity of thought and experience.

Both directors will serve under the standard provisions for independent directors as mandated by the Companies Act, 2013, and SEBI LODR regulations. Their roles include overseeing risk management, internal controls, and related-party transactions, ensuring that minority shareholder interests are protected alongside broader corporate objectives.

The Company Secretary, Mayuresh Vinayak Gharpure, signed the disclosure letter submitted to the exchange. The filings confirm that all necessary shareholder consents were obtained during the AGM proceedings on August 5, 2026.