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 (KIL) has initiated a postal ballot process to seek shareholder approval for three significant board appointments, signaling a move to strengthen its leadership team.

Key Appointments

1. Independent Directors:

   • Sumit Mitra
   • Sathyamoorthy Venkataramani

   Both are proposed for five-year terms as Independent Directors.

2. Non-Independent Non-Executive Director:

   • Rahul Kirloskar

   Proposed to be appointed as a Non-Independent Non-Executive Director.

Voting Process

• E-voting Period: November 29, 2025, to December 28, 2025
• Result Announcement: Expected by December 30, 2025

Financial Context

To provide context for these governance changes, let's look at KIL's recent financial performance:

The company has shown significant growth across key financial metrics, particularly in its investment portfolio and total assets. This robust financial position underscores the importance of strong governance and leadership, which these new appointments aim to reinforce.

Implications

1. Diverse Expertise: The appointment of two new Independent Directors suggests a move towards bringing diverse perspectives and specialized knowledge to the board.

2. Family Leadership: The proposed appointment of Rahul Kirloskar as a Non-Independent Non-Executive Director indicates the continued involvement of the Kirloskar family in the company's strategic direction.

3. Corporate Governance: These appointments, particularly of the Independent Directors, reflect KIL's commitment to maintaining strong corporate governance practices.

4. Strategic Alignment: Given the company's significant growth in investments and assets, these board changes may be aimed at aligning leadership expertise with the company's expanding financial portfolio and operations.

Shareholders are encouraged to participate in the e-voting process to have their say in these crucial appointments that could shape the future direction of Kirloskar Industries Limited.