Kirloskar Ferrous Industries Limited submitted a regulatory disclosure to BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure concerns the outcome of a Board Meeting held on 21 September 2026.
The Board of Directors approved the appointment of Ajay Patil as Joint Managing Director of the company. The appointment is effective from 21 September 2026 to 20 September 2029, constituting a three-year term.
Mr. Patil brings 36 years of professional experience across multiple domains including driving profitable growth, corporate governance, business strategy, capital allocation, enterprise transformation, mergers and acquisitions, joint ventures, sustainability, and enterprise risk management. His most recent position was Global Chief Financial Officer of RSB Transmission (India) Limited, a Bain Capital portfolio company. His career spans listed companies, private equity-backed businesses, multinational corporations, and joint ventures, with previous roles at Cummins, Honeywell, and Eaton where he progressed to regional and global leadership roles with executive responsibilities across Asia Pacific, the Middle East, Africa, the Americas, and global operations.
Mr. Patil is a Cost and Management Accountant (CMA) and holds a Master's degree in Commerce. He has been associated with the School of Sustainability at the Indian Institute of Technology (IIT) Madras.
R. V. Gumaste, Managing Director at Kirloskar Ferrous Industries Limited, commented that the appointment aims to strengthen the leadership bandwidth and aligns with the company's priorities of sustainable growth and enhancing KFIL's market position. He stated that Mr. Patil's expertise in business strategy and transformation will bring significant value to the organization.
The company describes itself as one of India's largest castings and pig iron manufacturers, catering to various industry sectors including tractors, automobiles, and diesel engines. It has manufacturing facilities at Koppal, Hiriyur, Solapur, and Rajpura with capabilities to produce grey iron castings up to 1000 kg pieces, various grades of pig iron (SG iron grade, basic steel grade, and foundry grade), and has expanded into alloy steel and seamless tubes. The company also has 3D printing facilities, a coke oven manufacturing facility with waste heat recovery power, and supplies fully machined castings.