Kirloskar Oil Engines Limited (KOEL) has announced a significant leadership decision that will shape the company's future for the next three years. At the Annual General Meeting (AGM) held on August 7, 2025, shareholders of the company approved the re-appointment of Ms. Gauri Kirloskar as Whole Time Director and Managing Director for a three-year term.

Key Details of the Re-appointment

• Term: The new term for Ms. Gauri Kirloskar will be effective from May 20, 2025, and will last for three years.
• Designation: Ms. Kirloskar will continue to serve as the Whole Time Director with the designation of Managing Director.
• Additional Role: She has also been re-appointed as a Key Managerial Personnel of the company, effective from the same date.

Shareholder Approval Process

The decision was made through a voting process at the 16th Annual General Meeting of Kirloskar Oil Engines Limited. According to the company's filing:

• The resolution for Ms. Kirloskar's re-appointment was passed with an overwhelming majority.
• Out of the total valid votes cast, 99.60% were in favor of the re-appointment.
• Only 0.40% of the votes were against the resolution.

Company's Disclosure

In compliance with regulatory requirements, KOEL has promptly informed the stock exchanges about this development. The company stated in its filing:

"Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, including amendments thereunder and based on the Scrutinizer's Report on voting results; this is to inform you that, in continuation of the communications filed on 14th May 2025, 7th August 2025 and 8th August 2025, the Members of the Company in the Annual General Meeting (AGM) held on 7th August 2025, have approved the re-appointment of Ms. Gauri Kirloskar (DIN: 03366274), as a Whole Time Director with the designation as the Managing Director of the Company with effect from 20th May 2025 for a term of 3 (Three) years."

Other AGM Proceedings

The AGM also saw the approval of other resolutions, including:

• Adoption of audited standalone and consolidated financial statements for the fiscal year ended March 31, 2025.
• Declaration of a final dividend of Rs. 4.00 per equity share (200%) and confirmation of an interim dividend of Rs. 2.50 per equity share (125%) for the financial year ended March 31, 2025.
• Ratification of remuneration payable to Cost Auditors for the financial year ending March 31, 2026.

This re-appointment of Ms. Gauri Kirloskar signifies continuity in leadership for Kirloskar Oil Engines Limited, as the company moves forward with its business strategies and operations in the coming years.

Kirloskar Oil Engines Limited (KOEL), a leader in manufacturing internal combustion engines and generator sets, has reported robust financial results for the first quarter, while also announcing a change in auditors for its material subsidiary.

Strong Financial Performance

KOEL achieved its highest-ever Q1 standalone net sales of ₹1,434.00 crore, marking an 8% year-over-year increase. The company's consolidated revenue from operations rose to ₹1,763.80 crore, up from ₹1,631.87 crore in the same quarter last year.

Key financial highlights for Q1 include:

Auditor Change at Material Subsidiary

In a significant development, G. D. Apte & Co., Chartered Accountants, have resigned as statutory auditors of Arka Financial Holdings Private Limited (AFHPL), a material subsidiary of KOEL, effective August 6. The resignation is due to RBI guidelines limiting audit firms to a maximum of eight RBI-regulated NBFCs.

AFHPL has applied for registration with RBI as a Core Investment Company on June 29, which would make it an RBI-regulated entity upon registration. To fill the vacancy, AFHPL's Board of Directors has approved the appointment of Sudit K. Parekh & Co. LLP Chartered Accountants as statutory auditors for a three-year term starting August 6, subject to shareholder approval.

Business Segment Performance

KOEL's consolidated results show strong performance across its business segments:

1. Business to Business (B2B): Revenue of ₹1,276.32 crore
2. Business to Customer (B2C): Revenue of ₹291.78 crore
3. Financial Services: Revenue of ₹195.70 crore

Management Commentary

Gauri Kirloskar, Managing Director of Kirloskar Oil Engines, commented on the results: "KOEL has delivered its highest-ever Q1 standalone net sales at ₹1,434.00 crore, marking a strong start and setting a new benchmark in our growth trajectory. I am very pleased with the progress that we are making as an organization, especially on the engineering and product side."

She added, "All the new products that we have launched recently, whether it is the Sentinel series or the Optiprime series are performing well in the market, and we see good acceptance from our customers. On the Industrial side, we are working closely with our key customers and looking for opportunities to deepen our relationship with them."

Other Developments

• The company incorporated Kirloskar International ME FZE as a wholly-owned subsidiary in Jebel Ali Free Zone, UAE, with an initial investment of ₹1.17 crore.
• KOEL allotted 75,463 fully paid-up equity shares of ₹2 each under its Employee Stock Option Plan 2019.
• The Board of Directors approved an investment of up to US$ 2,000,000 in Kirloskar Americas Corporation, USA, a wholly-owned subsidiary, to further business in the US market.

With a strong start and strategic moves in place, Kirloskar Oil Engines Limited appears well-positioned for continued growth.