Kirloskar Industries has co-opted Ajay Shiram Patil as an Additional Director and appointed him as Joint Managing Director, effective September 21, 2026. The appointment follows a recommendation by the Nomination and Remuneration Committee.

Patil, aged 62, will serve a three-year term subject to shareholder approval. He brings over 36 years of leadership experience from multinational industrial organizations including Cummins, Honeywell, and Eaton.

Leadership Appointments

The Board designated Patil as a Key Managerial Person. He previously served as Global Chief Financial Officer of RSB Transmission (India) Limited, a Bain Capital portfolio company.

Patil 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, a listed material subsidiary, also filed related intimations with stock exchanges.

Kirloskar Industries has appointed George Verghese as Managing Director of its wholly-owned subsidiary, Avante Spaces Limited. The board approved the move on September 18, 2026.

Mr. Verghese will assume the role subject to approval by the members of Avante Spaces. The appointment is effective from September 18, 2026, and will continue until May 19, 2030. This role is an additional responsibility alongside his current position as Managing Director of Kirloskar Industries Limited.

Executive Profile

Mr. Verghese brings over 21 years of leadership experience across global organizations such as Dell, Reliance Communications, UST Global and Cummins. His career spans diverse functions including business operations, human resources, business strategy, marketing, and branding.

He holds a Master's degree in Management from XLRI Jamshedpur and a Bachelor's Degree in Engineering from the College of Engineering, Munnar.

His background includes prior senior roles at:

• Dell International Services
• Cummins
• Reliance Communications
• UST Global

Strategic Context

Mr. Verghese joined the Kirloskar Group in April 2021 as Vice President – Group HR. He subsequently served as CHRO and Chief of Staff at Kirloskar Oil Engines Limited, where he was part of the core leadership team that steered a strategic business turnaround.

He has been serving as the Managing Director of Kirloskar Industries Limited since May 20, 2025. In this role, he has worked closely with leadership teams across multiple group companies on strategic direction, operational alignment, institutional strengthening, and long-term value creation.

Rahul Kirloskar, Chairman of the Board at Avante Spaces Limited, said, "For over five years, George has been actively involved across multiple Kirloskar Group companies, contributing to business strategy, operational execution, and initiatives spanning HR, marketing, and culture. His experience across these areas has added valuable perspective to the Group's journey, and his expertise will further strengthen Avante Spaces as it builds for the future."

The appointment aims to strengthen governance and institutional leadership at Avante Spaces, aligning with broader organizational modernization efforts across the Kirloskar Group ecosystem.