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.

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.