Kirloskar Ferrous Industries Limited , a prominent player in the ferrous industry, recently held its 34th Annual General Meeting (AGM) on August 4, 2025, where shareholders approved key appointments and financial matters.

New Director Appointment

The company announced the appointment of Ms. Aditi Atul Kirloskar as a Director liable to retire by rotation. This appointment was approved by the shareholders, with 99.97% of votes cast in favor of the resolution. Ms. Kirloskar's addition to the board is expected to bring fresh perspectives to the company's leadership.

Secretarial Auditor Appointment

In a move to ensure continued compliance and corporate governance, the AGM approved the appointment of M/s. M. J. Risbud & Co, Company Secretaries, as the Secretarial Auditor for an extended period. The firm will hold office for a five-year term, from the conclusion of the 34th AGM until the 39th AGM, covering financial years from March 31, 2026, to March 31, 2030. This resolution received overwhelming support, with 100.00% of votes in favor.

Other Key Resolutions

The AGM also addressed several other important matters:

1. Financial Statements Adoption: Shareholders approved the Audited Financial Statements (including Consolidated Financial Statements) for the financial year ended March 31, 2025, along with the Reports of the Board of Directors and Auditors.

2. Dividend Confirmation: The payment of Interim Dividend on equity shares was confirmed, and a Final Dividend was declared for the financial year ended March 31, 2025.

3. Director Reappointment: Mr. Rahul Chandrakant Kirloskar was reappointed as a Director, with 99.84% of votes in favor.

4. Cost Auditor Remuneration: The remuneration of M/s. Dhananjay V. Joshi & Associates as the Cost Auditor was ratified.

5. Fundraising Authority: The Board of Directors received authority to borrow or raise funds not exceeding ₹1,000 Crores through the issuance of Non-convertible Debentures in one or more tranches on a private placement basis.

Shareholder Participation

The AGM, conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM), saw participation from 70 shareholders, including 9 from the Promoter and Promoter Group and 61 from the public. The total number of shareholders on the record date (July 28, 2025) was 106,695.

Kirloskar Ferrous Industries Limited continues to demonstrate strong corporate governance practices and shareholder engagement through these proceedings. The appointment of new leadership and the approval of key financial and operational decisions indicate the company's focus on growth and compliance in the coming years.

Kirloskar Ferrous Industries Limited (KFIL) has announced robust financial results for the first quarter, alongside plans for a strategic merger with its wholly-owned subsidiaries. The company's board has approved a scheme of arrangement for the merger by absorption of Oliver Engineering Private Limited (OEPL) and Adicca Energy Solutions Private Limited (AESPL).

Strong Financial Performance

For the quarter ended June 30, KFIL reported:

• Revenue from operations of ₹1,685.05 crore, up from ₹1,553.71 crore in the same quarter last year
• Net profit of ₹95.77 crore, compared to ₹75.57 crore in Q1 of the previous fiscal year
• Earnings per share (EPS) of ₹5.82, an increase from ₹4.60 in the corresponding quarter

The company's performance showed improvement across key financial metrics:

Strategic Merger Initiative

The board of directors has approved a scheme to merge OEPL and AESPL with KFIL. This strategic move aims to:

• Consolidate businesses and streamline the holding structure
• Optimize costs and leverage synergies
• Strengthen KFIL's asset base and service range

OEPL specializes in ferrous castings and machining with a manufacturing unit in Rajpura, Punjab, while AESPL focuses on turnkey solar power projects and renewable energy consultancy.

Key Points of the Merger

• No new equity shares will be issued as part of the scheme
• KFIL's shareholding pattern will remain unchanged
• The merger is subject to necessary regulatory approvals

Segment Performance

KFIL operates in three segments:

1. Casting Segment: Reported revenue of ₹1,000.45 crore
2. Tube Segment: Generated revenue of ₹570.77 crore
3. Steel Segment: Contributed ₹358.07 crore to the revenue

Financial Position

• The company's net worth stood at ₹2,198.53 crore as of June 30
• Debt-to-equity ratio improved to 0.35 from 0.40 in the previous year
• Current ratio remained stable at 1.10

Other Developments

• KFIL raised ₹400 crore through commercial papers during the quarter for working capital requirements
• The company allotted 6,840 equity shares under its Employee Stock Option Schemes

R. V. Gumaste, Managing Director of KFIL, stated, "Our strong first-quarter performance reflects the resilience of our business model. The proposed merger with our subsidiaries is a strategic step towards enhancing our operational efficiency and market position."

The merger is expected to create a more streamlined organization, potentially leading to improved operational efficiencies and shareholder value in the long term.