Kirloskar Oil Engines Limited has announced the allotment of 9,536 equity shares under its Employee Stock Option Plan 2019, following Board approval during a meeting held on March 10, 2026. The allotment represents the exercise of employee stock options under the company's KOEL ESOP 2019 scheme.

Share Capital Enhancement Details

The Board of Directors approved the allotment of 9,536 fully paid-up equity shares of Rs. 2/- each upon exercise of employee stock options. This corporate action has resulted in an increase in the company's overall share capital structure.

ESOP Implementation Framework

The allotment was executed pursuant to the 'Kirloskar Oil Engines Limited – Employee Stock Option Plan 2019 [KOEL ESOP 2019]'. Each equity share carries a face value of Rs. 2/- and represents fully paid-up equity participation in the company. The ESOP scheme enables eligible employees to acquire equity stakes through the exercise of stock options granted under the plan.

Board Meeting Proceedings

The Board meeting that approved this allotment commenced at 10.30 am and concluded at 3.35 pm on March 10, 2026. The company has duly informed both BSE Limited and National Stock Exchange of India Limited about this corporate action in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

Kirloskar Oil Engines Limited has fulfilled its disclosure obligations by notifying the stock exchanges about the share allotment. The communication was addressed to the Corporate Relationship Department of BSE Limited and the Listing Department of National Stock Exchange of India Limited, ensuring transparency and regulatory compliance in the share allotment process.

Kirloskar Oil Engines Limited has announced a comprehensive leadership transition following a board meeting held on March 10, 2026. The company disclosed significant changes in its top management structure through an official regulatory filing, marking the end of Atul Kirloskar's distinguished 43-year tenure with the organization.

Chairman Transition and Career Legacy

Atul Kirloskar will conclude his role as Chairman and resign as Non-Executive Non-Independent Director effective March 31, 2026, at the close of working hours. His decision stems from reaching the retirement age of 70 years, as formally stated in his resignation letter to the board.

Mr. Kirloskar joined the company in 1983 and was appointed as Executive Vice President of erstwhile KOEL in November 1984. He was co-opted on the Board in August 1985, taking over as Managing Director. His leadership journey included serving as Vice Chairman from 1988 and later as Chairman and Managing Director from July 1998.

Post-Demerger Leadership Role

Following the proposed demerger in January 2009, which was completed in March 2010, Atul Kirloskar continued his leadership role in the restructured organization. He served as Managing Director from March 31, 2010, to January 25, 2012, before transitioning to Executive Director and Chairman from January 2012 to March 2023.

New Leadership Structure

The board has approved the appointment of Rahul Kirloskar as the new Chairman, effective April 1, 2026. This appointment represents a planned succession process that has been in development for the past couple of years.

Gauri Kirloskar, who currently serves as Managing Director, has been additionally designated as Vice-Chairperson effective April 1, 2026. Her terms and conditions as Managing Director, including remuneration approved at the AGM, remain unchanged with this additional designation.

Leadership Statements and Vision

In his farewell statement, Atul Kirloskar emphasized the importance of planned succession, stating: "It has been a true privilege to be part of KOEL's journey over the years. We have been working on this transition for the last couple of years, as a planned succession. I believe that timely and planned succession is very important for the Company."

Rahul Kirloskar expressed his commitment to continuity, saying: "I thank Atul for his service to the Company over the years. As I step into this role, I intend to take forward the great work that was done in the Company under Atul's leadership and look forward to working with Gauri and the management team."

Regulatory Compliance and Meeting Details

The announcements were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting was conducted on March 10, 2026, with comprehensive discussions on the succession planning process.

The leadership transition represents a carefully planned succession within the organization, ensuring continuity in management while bringing fresh perspectives to the company's strategic direction. The board acknowledged Atul Kirloskar's valuable contributions, noting that the company has benefitted immensely from his leadership, experience, and unwavering commitment over more than four decades.