Kirloskar Electric Company Ltd Approves Re-appointment of Executive Chairman and Preferential Issue of Equity Shares

Kirloskar Electric Company Ltd Approves Re-appointment of Executive Chairman and Preferential Issue of Equity Shares​

The Board of Directors of Kirloskar Electric Company Ltd has approved a series of corporate developments, including the reappointment of its Executive Chairman, a preferential issue of equity shares to a promoter group company, and the appointment of internal auditors. These decisions were finalized during a board meeting held on July 16, 2026.

Leadership Re-appointment​

The Board has approved the reappointment of Mr. Vijay R Kirloskar as Whole-time Director (Executive Chairman) for a three-year term starting August 12, 2026. Mr. Kirloskar holds a Master's degree in Management Science and Engineering from Worcester Polytechnic Institute, USA.

Mr. Kirloskar has an extensive professional history with the Kirloskar Group, where he began his career in 1978 as Manager-Production. He subsequently held roles as President and Managing Director before serving as Chairman of the Kirloskar Group from 1994 to 1998. As a promoter and senior manager, he has played a central role in the company's strategic direction, including securing technology agreements and significant orders.

Preferential Issue of Equity Shares​

Kirloskar Electric Company Ltd has approved a preferential issue of equity shares to Kirloskar Power Equipments Limited, a promoter group company. The issuance involves up to 34,68,007 equity shares at a floor price of Rs. 115.34 each, representing an aggregate consideration of up to Rs. 40,00,00,000.

Appointment of Internal Auditors​

The company has appointed M/s. T. Sriram, Mehta & Tadimalla (TSMT) as its internal auditors for the financial year 2026-27. Based in Bangalore, TSMT is a firm of Chartered Accountants with over 50 years of experience. The firm provides services across various domains including Taxation, Audit and Assurance, Corporate Law, Finance, and Risk and Transaction Advisory.

KECL Stock Price Movement​

Kirloskar Electric Company Limited shares surged to ₹121.52 as of 12:55 PM today, jumping 4.99% in live trading. The stock shows active interest with a turnover of 89,869 shares during this session.