Kirloskar Industries Limited, a prominent player in the Indian industrial sector, has announced a significant change in its subsidiary's leadership. Bharathan Gopalakrishnan, the current Chief Financial Officer (CFO) of Kirloskar Industries, has been appointed as the CFO of Avante Spaces Limited, a wholly-owned subsidiary of the company, effective December 3, 2025.

Key Highlights

• Dual Role: Bharathan Gopalakrishnan will now serve as CFO for both Kirloskar Industries and its subsidiary, Avante Spaces Limited.
• Effective Date: The appointment takes effect from December 3, 2025.
• Approval Process: The decision was approved by Avante's Board of Directors, based on recommendations from the Nomination and Remuneration Committee and Audit Committee.

About Bharathan Gopalakrishnan

Bharathan Gopalakrishnan brings a wealth of experience to his new role:

• Educational Background: B.Tech from NIT Calicut and Post Graduate Diploma in Management from IIM Bangalore.
• Professional Experience: Over 18 years in banking, financial services, project financing, debt syndication, and telecom sectors.
• Key Skills: Expertise in credit appraisal, structured finance, and strategic leadership.
• Previous Roles: Held senior positions at SBI Capital Markets and YES Bank.

Company Financial Context

While this appointment is a corporate governance matter, it's worth noting Kirloskar Industries' recent financial position:

The company has shown significant growth in its asset base and investments over the past year, indicating a strong financial position as it makes this strategic appointment.

Implications

This dual CFO role for Bharathan Gopalakrishnan suggests a closer financial alignment between Kirloskar Industries and its subsidiary, Avante Spaces Limited. The move may lead to more streamlined financial operations and potentially signal upcoming strategic initiatives for Avante Spaces within the larger Kirloskar group.

As Kirloskar Industries continues to strengthen its financial leadership, stakeholders will be watching closely to see how this appointment influences the company's future growth strategies and financial performance.

Kirloskar Industries has released its Q2 FY26 financial results, revealing a mixed performance across its business segments. The company demonstrated resilience in a challenging market environment, with notable growth in certain areas despite headwinds in others.

Financial Highlights

• Profit Before Tax (PBT) grew by 9.4% to INR 126.00 crores
• EBITDA increased to INR 214.00 crores
• Pig iron prices dropped by 11% to INR 37,098.00 per metric ton

Segment Performance

Key Takeaways

The company's financial results for Q2 FY26 paint a picture of contrasting fortunes across its business segments:

Strong Tube Segment Performance

The tubes division emerged as a bright spot, delivering impressive growth both in terms of volume (24%) and value (18%). This robust performance in the tube segment has helped offset challenges in other areas of the business.

Pig Iron Segment Under Pressure

Despite the overall growth in PBT and EBITDA, the pig iron segment faced significant challenges. Kirloskar Industries reported that pig iron prices fell by 11% to INR 37,098.00 per metric ton. More concerning is the fact that margins in this segment are under severe pressure, with the company stating that it is not covering costs in this area.

Overall Financial Growth

Despite the challenges in the pig iron segment, Kirloskar Industries managed to achieve a 9.4% growth in Profit Before Tax, reaching INR 126.00 crores. Additionally, the company saw an increase in its EBITDA, which rose to INR 214.00 crores.

The mixed results highlight the company's ability to navigate a complex market environment. While the pig iron segment faces significant headwinds, the strong performance in the tubes division demonstrates the benefits of the company's diversified business model.

Investors and market watchers will likely be keeping a close eye on how Kirloskar Industries addresses the challenges in its pig iron segment while capitalizing on the growth opportunities presented by its successful tubes division in the coming quarters.