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 Limited has officially completed its postal ballot process and submitted regulatory disclosures to BSE and NSE on December 29, 2025, confirming shareholder approval of all three proposed director appointments. The company fulfilled its obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Official Regulatory Disclosure

The company submitted its formal disclosure to both stock exchanges through a letter signed by Company Secretary & Compliance Officer Ashwini Mali. The disclosure confirmed that members approved all resolutions through the Postal Ballot Notice dated November 14, 2025, based on the Scrutiniser's Report on voting results.

Director Appointments Confirmed

All three directors have been officially appointed with effect from November 14, 2025, following the successful postal ballot process:

Postal Ballot Results Summary

The postal ballot process conducted between November 29, 2025, and December 28, 2025, demonstrated strong shareholder support across all appointments:

Resolution 1 - Sumit Mitra Appointment (Special Resolution):

• Total votes polled: 5,312,406 (50.58% of outstanding shares)
• Votes in favour: 5,306,640 (99.89%)
• Votes against: 5,766 (0.11%)

Resolution 2 - Sathyamoorthy Venkataramani Appointment (Special Resolution):

• Total votes polled: 5,313,553 (50.59% of outstanding shares)
• Votes in favour: 5,312,686 (99.98%)
• Votes against: 867 (0.02%)

Resolution 3 - Rahul Kirloskar Appointment (Ordinary Resolution):

• Total votes polled: 5,313,554 (50.59% of outstanding shares)
• Votes in favour: 5,304,493 (99.83%)
• Votes against: 9,061 (0.17%)

Regulatory Compliance Completed

The company has successfully fulfilled all regulatory requirements with scrutinizer Manasi Paradkar (FCS-5447, CP-4385) confirming the validity of the e-voting process conducted through NSDL's platform. The formal disclosure to stock exchanges marks the completion of the appointment process, strengthening the board composition with enhanced corporate governance through independent director additions while maintaining strategic leadership involvement.