Kirloskar Electric Co held its 78th Annual General Meeting (AGM) on September 16, 2025, via video conferencing, where shareholders approved several significant resolutions. The meeting addressed both ordinary and special business matters, reflecting important decisions for the company's governance and operations.

Financial Statements Adoption

Shareholders approved the adoption of audited standalone and consolidated financial statements for the year ended March 31, 2025, along with the reports of the Board of Directors and Auditors.

Director Reappointments

Mr. Vijay R Kirloskar, who retired by rotation, was reappointed as a director. Additionally, the AGM approved the reappointment of Mr. Anand B Hunnur as Managing Director for a three-year term effective July 12, 2025. Mr. Hunnur's reappointment is subject to retirement by rotation.

Executive Remuneration

A special resolution was passed to revise the remuneration payable to Mr. Vijay R Kirloskar in his capacity as Executive Chairman.

Auditor Appointments

The shareholders approved the appointment of Mr. Sudheendra P Ghali of M/s. S. P. Ghali & Co., Company Secretaries, as the Secretarial Auditor for a five-year term. Additionally, M/s. BMS Auditing, Chartered Accountants, was appointed as the auditor for the company's branch office in Ajman, UAE.

Cost Auditors Remuneration

The AGM ratified the remuneration of Cost Auditors for the financial year ending March 31, 2025.

Independent Director's Continuation

A special resolution was passed to allow the continuation of Mr. Ravi Ghai as an independent director after he attains the age of seventy-five years.

Voting Results

The scrutinizer's report indicated strong shareholder support for all resolutions:

The AGM's outcomes reflect the shareholders' confidence in Kirloskar Electric's leadership and strategic direction. These approvals pave the way for the company to implement its plans for the coming year, with a focus on governance and operational efficiency.

Kirloskar Electric Co has released its unaudited financial results for the first quarter, revealing a slight dip in revenue but maintaining profitability. The company's board has also made key decisions regarding directorship and cost auditors.

Financial Performance

For the quarter ended June 30, Kirloskar Electric reported:

The company's revenue saw a marginal decrease of 0.92% compared to the same quarter last year. However, net profit after tax experienced a more significant decline of 69.60%.

Segment-wise Performance

Kirloskar Electric operates in three segments:

1. Power Generation/Distribution: Generated revenue of ₹7,207.00 lakhs
2. Rotating Machines: Contributed ₹5,944.00 lakhs to the revenue
3. Others: Accounted for ₹169.00 lakhs in revenue

Board Decisions

The Board of Directors, in their meeting held on August 12, approved several key matters:

1. Director Continuation: The board approved the continuation of Mr. Ravi Ghai (DIN: 08715119) as an Independent Director beyond the age of 75 years. Mr. Ghai will turn 75 in February 2026. This decision is subject to shareholder approval at the upcoming Annual General Meeting.

2. Cost Auditors Appointment: Based on the Audit Committee's recommendation, the board appointed M/s. Rao, Murthy & Associates, Cost Accountants, Bengaluru (FRN: 000065) as Cost Auditors for the financial year ending March 31, 2026.

Ongoing Developments

Merger of Subsidiaries

The company has filed an application with the National Company Law Tribunal (NCLT) for the merger of its wholly-owned subsidiaries:

• Kelbuzz Trading Private Limited
• SKG Terra Promenade Private Limited
• SLPKG Estate Holdings Private Limited
• Luxquisite Parkland Private Limited

The next hearing is scheduled for September 18, 2025.

Asset Monetization

Kirloskar Electric is in the process of monetizing its immovable property in Hubballi. The company has entered into agreements to sell portions of this property, which is expected to improve working capital and overall performance in the coming periods.

Auditor's Review

The statutory auditors have conducted a limited review of the financial results. They have highlighted the company's accumulated losses and eroded net worth but noted the management's restructuring plans and potential for improvement through asset monetization and increased turnover.

Kirloskar Electric continues to navigate challenging market conditions while focusing on strategic decisions to strengthen its financial position and operational efficiency.