Kirloskar Ferrous Industries Limited has issued a Notice of Postal Ballot to its shareholders pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The postal ballot will be conducted exclusively through e-voting facility to seek shareholder approval for two business items.

Business Item 1: Appointment of Mr. Ajay Shriram Patil as Director

The company seeks shareholder approval for the appointment of Mr. Ajay Shriram Patil (DIN: 01217000) as a Director of the Company liable to retire by rotation. Mr. Patil was co-opted as an Additional Director and appointed as Joint Managing Director by the Board of Directors effective from 21 September 2026. A notice in writing has been received from a Member pursuant to Section 160 of the Companies Act, 2013 proposing his candidature.

Business Item 2: Appointment as Joint Managing Director and Remuneration Terms

The company seeks approval for Mr. Ajay Shriram Patil's appointment as Joint Managing Director for a term of three years from 21 September 2026 to 20 September 2029, with the following remuneration structure:

Salary Components:

  • Basic Salary: ₹15,77,870 per month
  • Special Allowance: ₹9,38,796 per month

Perquisites:

  • Fully furnished residential accommodation (perquisite valuation not exceeding ₹1,50,000 per month) or House Rent Allowance of ₹1,50,000 per month
  • Family Medicare Policy and Personal Accident Insurance (aggregate premium not exceeding ₹2,00,000 per annum)
  • Reimbursement of all medical expenses for self and family
  • Leave travel assistance for self and family once a year (not exceeding ₹2,50,000)
  • Club membership fees (excluding life membership fees)
  • Car with driver for official and personal purposes with all operational expenses
  • Telephone, Internet, and mobile phone facilities
  • Provident fund contributions as per applicable legislation
  • One-time Joining Bonus of ₹1,25,00,000 payable in two equal instalments (first with first payroll, second after six months)
  • Gratuity at rate not exceeding fifteen days' salary for each completed year of service
  • Leave at rate of thirty days per calendar year of service

Additional Terms:

  • Commission based on net profits, subject to aggregate remuneration limits under Companies Act, 2013
  • Minimum remuneration payable in case of loss or inadequacy of profits as per Schedule V
  • No sitting fees for Board or Committee meetings
  • Eligible to receive stock options as decided by the Board
  • Mr. Patil shall be liable to retire by rotation during his tenure as Joint Managing Director

Voting Details

The e-voting period commences on Wednesday, 7 October 2026 at 9:00 a.m. (IST) and ends on Thursday, 5 November 2026 at 5:00 p.m. (IST). The cut-off date for determining voting eligibility is Friday, 2 October 2026. Voting rights are proportional to the paid-up equity share capital as on the cut-off date.

National Securities Depository Limited (NSDL) has been engaged to provide e-voting facilities. Ms. Manasi Paradkar, Practicing Company Secretary (Membership Number FCS-5447, CP Number 4385), has been appointed as Scrutinizer to oversee the voting process.

Director Background

Mr. Ajay Shriram Patil, aged 62 years, is a Post Graduate in Commerce and Cost and Management Accountant (CMA) with over 36 years of leadership experience across multinational industrial and manufacturing organizations including Cummins, Honeywell, and Eaton. He previously served as Global Chief Financial Officer of RSB Transmission (India) Limited, a Bain Capital portfolio company. He currently serves as Independent Director on the Board of Ingersoll-Rand (India) Limited and holds committee positions including Chairman of the Audit Committee, Member of Risk Management Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee. He does not hold any equity shares in the company and is not related to any other Director or Key Managerial Personnel.

The results of the postal ballot along with the Scrutinizer's Report will be available on the company website (www.kirloskarferrous.com), BSE website (www.bseindia.com), and NSDL website (www.evoting.nsdl.com). If resolutions are assented to by requisite majority, they will be deemed passed on 5 November 2026.