Our subsidiary, Kirloskar Ferrous Industries Limited (KFIL), delivered a resilient
performance during FY2025, navigating a challenging global economic environment and
commodity market volatility with resolve and agility. KFIL achieved a 7% growth in topline
revenue, which further strengthens its strong market position and operational discipline.
Dear Shareholders,
At the completion of the financial year 2024-25, it is my privilege to share some
insights with you about the performance of Kirloskar Industries Limited (KIL) and present
to you the Annual Report for the year. The year was exciting and eventful — marked by
strong execution across our businesses, achievement of strategic milestones and a
continued focus on delivering long-term value to our stakeholders.
Financial Performance
As a core investment company, our financial performance continues to reflect the
robustness of our subsidiaries. For FY2025, KIL (Standalone) reported a Total Income of
Rs. 121 crore for FY 2025 compared to Total Income of Rs. 134 crore for FY 2024 and Profit
Before Tax (PBT) of Rs. 101 crore compared to PBT of Rs. 102 crore for FY 2024 from the
continuing operations.
The key contributors to this performance were dividend inflows from group companies and
interest income. We remain committed to deploying our capital efficiently, with a
strategic focus on supporting our subsidiaries' growth trajectories.
Completing Successfully our Maiden Real Estate Project
We are proud to announce the completion of our first real estate project, One Avante,
under our Wholly-Owned Subsidiary, Avante Spaces Limited (Avante/Avante Spaces). This
milestone marks KIL's official entry into the real estate sector as a developer of
high-quality, sustainable urban spaces. The project is now delivered and occupied,
following the completion of tenant fit-outs. It has also earned wide appreciation for its
design and sustainability features.
Avante recognised revenue in FY24 for One Avante Project and the funds are being
reinvested into our pipeline of real estate developments. The construction of our second
project, located at the prominent Kothrud site, is progressing steadily. We are in the
advanced stages of tower construction and this project is poised to further strengthen
Avante Spaces' presence in the Pune real estate market.
Resilience Amid Challenges
Our subsidiary, Kirloskar Ferrous Industries Limited (KFIL), delivered a resilient
performance during FY2025, navigating a challenging global economic environment and
commodity market volatility with resolve and agility. KFIL achieved a 7% growth in topline
revenue, which further strengthens its strong market position and operational discipline.
For FY2025, KFIL (Standalone) reported a Revenue from Operations of Rs. 6,566 crore,
compared to Rs. 6,134 crore for FY 2024 and Profit Before Tax (PBT) of Rs. 432 crore
vis-?-vis Rs. 477 crore for FY 2024.
Amid cost pressures, KFIL continued to execute its strategic initiatives focused on
operational efficiency and cost optimisation. Key projects such as the implementation of
Pulverised Coal Injection (PCI) and Oxygen Enrichment in blast furnaces have contributed
meaningfully to energy efficiency and cost reduction. These technological enhancements not
only strengthen KFIL's competitiveness, but also align with its long-term sustainability
goals.
A major milestone during the year was the commissioning of a 70 MW solar power capacity
at Jalna. This project significantly enhances the Company's renewable energy footprint and
supports its commitment to reducing carbon emissions and long-term power cost stability.
We remain confident in KFIL's long-term growth potential and its ability to generate
sustainable returns.
Celebrating our People-first Culture
We have always prioritised the aspirations and needs of our teams. Our focus during the
year has been on fostering a culture of collaboration, inclusion and continuous learning.
We have enhanced our employee development initiatives and are proud of the increased
engagement and productivity that has resulted from these efforts. Our teams remain aligned
to the Group's long-standing values of integrity, innovation and excellence.
Delivering Value Sustainably
Sustainability remains a cornerstone of our business strategy. One Avante project was
awarded the prestigious IGBC Platinum rating, reaffirming our commitment to green
construction and eco-conscious development. Across the Group, we are investing in
renewable energy, water management and community upliftment programmes that align with our
long-term vision of responsible growth.
Building on our Rich Legacy
As we look towards the future, we are committed to executing our strategic priorities
with discipline and purpose. With a robust foundation in place and several growth levers
across our portfolio, we are well-positioned to leverage emerging opportunities and
navigate future challenges. Our focus remains on value creation, operational excellence
and sustainable progress.
On behalf of the Board and the entire leadership team, I extend my sincere gratitude to
our shareholders for their continued trust and to all our employees for their unwavering
dedication. Together, we will continue to build on the legacy of the Kirloskar Group and
shape a brighter, more resilient future for Kirloskar Industries Limited.
Warm regards,
Atul Kirloskar
Chairman
Kirloskar Industries Limited