Kirloskar Brothers

NCLT directs Kirloskars to abide by settlement agreement signed in Sept '09

The Kirloskar family is embroiled in a legal battle over group assets, with Sanjay Kirloskar, chairman of Kirloskar Brothers (KBL), on one side and his brothers, Atul and Rahul, on the other

Kirloksar Brothers hits new high on strong earnings; zooms 108% in 3 months

In past three days, the stock of Kirloksar Group company has surged 32% after it posted a solid 57% YoY jump in its consolidated PAT at Rs 142.7 crore in the March quarter

Stocks to watch on May 15: M&M, Radico Khaitan, Macrotech Developers

Across Asia, market sentiment is predominantly positive, tracking Wall Street gains. At 7:26 AM, Japan's Nikkei rose 0.47 per cent, while Korea's Kospi soared 0.11 per cent

Toyota Kirloskar Motor confident of continuing strong growth in 2024

Toyota Kirloskar Motor on Wednesday said it expects to continue the strong momentum next year after closing 2023 with record sales as rising demand from tier II and III markets is slated to fuel further growth. The company is set for a record year in terms of sales in 2023. It has already clocked a total of 2,10,479 units in the January-November period of 2023, beating the previous highest yearly sales of 1.72 lakh units in 2012. "At TKM (Toyota Kirloskar Motor), we are equally confident for the next year, fuelled by the rising demand from tier II and III markets and overall buoyant customer sentiments. Our primary focus is on further elevating the customer experience to meet their evolving needs," company Vice President of Sales and Strategic Marketing, Atul Sood said in a statement. Further, he said the company is also "looking forward to creating a lot more buzz around our sustainable offerings in the mass electrification space, contributing to our goal of carbon neutrality". So

Sebi chief deeply regrets failure to de-freeze shares in Kirloskar case

Sebi chief Madhabi Puri Buch on Friday said the capital markets regulator deeply regrets the failure to de-freeze the shares held by members of the Kirloskar family in Kirloskar Industries Ltd (KIL) despite the SAT's directive. "I think what happened in terms of delay in de-freezing accounts was unacceptable. Whatever have been the cause and root cause, communications with the depository etc., Sebi was responsible, Sebi was accountable, we deeply regret what happened," Buch told reporters at the sidelines of the CII Global Economic Policy Forum here. Further, she said that the Securities and Exchange Board of India (Sebi) has already initiated a full process review in this regard. "Within 30-45 days. We will revamp the process. So that risk of this happening again is completely minimised," she added. The comments came after the Securities Appellate Tribunal (SAT) pulled up Sebi on Monday for failing to de-freeze the shares held by members of the Kirloskar family in Kirloskar ...

Kirloskar Group's NBFC aims to add Rs 800 crore to AUM by March 2024

Arka Fincap, a non-bank lender promoted by the Kirloskar Group, on Tuesday said it is aiming to add another Rs 800 crore to its Assets Under Management (AUM) by March 2024. The shadow bank, which announced its plans to raise up to Rs 300 crore from a non-convertible debentures issue, will be focusing on lending to small businesses going forward, according to a statement. Its AUM currently stands at Rs 4,200 crore and the NBFC is aiming to close FY24 with an AUM of Rs 5,000 crore, the statement said. Further, it said the company plans to open 10 more branches by March to take its overall network to 40 branches, and will be adding about 175 employees to take its overall staff size to 500 by March 2024. Kirloskar group had infused Rs 1,000 crore into the NBFC commenced operations in 2019. It is offering coupons of up to 10 per cent on the NCDs, the statement said, adding that the NCDs come in three tenors of 24 months, 36 months and 60 months.

SAT raps Sebi for 'lackadaisical approach' in Kirloskar Industries matter

Tribunal asks market regulator to pay Rs 5 lakh for delay in complying with its order

Kirloskar Brothers Q1FY24 results: Net profit jumps 321% YoY to Rs 33 cr

The revenue from operations for Q1FY24 came in at Rs 581.2 crore, compared to Rs 542.4 crore year-on-year

Kirloskar Brothers soars 10%; nears 52-week high on strong business outlook

The stock is inching towards its 52-week high of Rs 424 touched on November 25, 2022.

Kirloskar Systems announces appointment of Manasi Tata on board of JV firms

Kirloskar Systems on Monday said it has appointed Manasi Tata, daughter of late Vikram Kirloskar, as Director on the board of the company's joint-venture firms with immediate effect. These joint ventures include Toyota Industries Engine India Pvt Ltd, Kirloskar Toyota Textile Machinery Pvt Ltd (KTTM), Toyota Material Handling India Pvt Ltd (TMHIN), and Denso Kirloskar Industries Pvt Ltd (DNKI), the company said in a statement. Her appointment as Director, comes after the untimely passing of her father, late Vikram S Kirloskar, former Chairman & Managing Director, KSPL. His wife, Geetanjali Kirloskar, has already taken charge as the new Chairman & Managing Director at KSPL, it added. A fifth-generation scion of the Kirloskar empire, Tata is a graduate from the Rhode Island School of Design in the US, trained in Toyota manufacturing processes and the Japanese work culture. She runs an NGO 'Caring with Colour' and works with government schools in three districts of ...

Kirloskar Brothers EGM: Shareholders reject call for forensic audit

Shareholders of Kirloskar Brothers Ltd have rejected a resolution for forensic audit of the affairs of the company by an external agency, according to a regulatory filing on Monday. On December 8, an extraordinary general meeting of the company's shareholders was convened following requisition by Kirloskar Industries Ltd (KIL) along with Atul Kirloskar and Rahul Kirloskar, who together hold 24.92 per cent in Kirloskar Brothers Ltd (KBL), amid the simmering feud between Kirloskar siblings. The ordinary resolution was rejected with 63.99 per cent of votes against it while 36.01 per cent were in favour, the filing said. The resolution had called for the appointment of an independent forensic auditor for conducting a forensic audit to investigate and verify the expenses incurred by KBL on legal, professional consultancy charges over the past six years and the affairs of the company. It had also sought investigation to verify all records, books of accounts, minutes books, and other ...

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Kirloskar Bros shareholders to vote on forensic audit starting Tuesday

Kirloskar Industries, a key investor in KBL, had sought the audit over legal fees of Rs 70 crore incurred by the latter. An EGM to consider this issue will be held on Dec 8

Kirloskar Brothers calls EGM on Dec 8; to vote on forensic audit

Shareholders to discuss legal fees paid by company as dispute in promoter family continues

Extraordinary general meeting brings focus back on Kirloskar Brothers' deed

Each signatory of the DFS is mandated to follow the rules and implement the deed with the approval of the respective board of directors

Kirloskar Industries' Board seeks forensic audit on Kirloskar Brothers

KIL raised questions whether the KBL Board, especially the independent directors of KBL, verified the claims made by Sanjay Kirloskar in relation to the Deed of Family Settlement

A family at war: Kirloskar siblings await SC judgement on arbitration

The Kirloskars are fighting a legal war over group assets with Sanjay Kirloskar chairman of Kirloskar Brothers Ltd on one side, and his brothers, Atul, 66, and Rahul, 59, on the on the other side

New twist to rivalry as Kirloskar siblings trade charges over legal fees

Sanjay Kirloskar-led Kirloskar Brothers Ltd refutes claim made by siblings Atul and Rahul that the firm paid Rs 274 crore in professional and legal expenses

Family feud: Kirloskar Brothers Ltd refutes charges of mis-utilising funds

Kirloskar Brothers Limited (KBL) on Sunday refuted allegations that it had spent Rs 274 crore towards payment of professional legal expenses and consultancy charges in the personal dispute of its Chairman and Managing Director Sanjay Kirloskar against his brothers Rahul and Atul. Kirloskar Pneumatic Co Ltd Executive Chairman Rahul Kirloskar and Kirloskar Oil Engines Ltd Executive Chairman Atul Kirloskar had on Saturday accused KBL of "mis-utilising shareholder resources of a publicly listed company and misusing regulatory machinery" after being cleared of insider trading charges by the Securities Appellate Tribunal (SAT). Rahul and Atul had stated that being a listed entity, KBL should justify the rationale and basis on which the company "has been spending huge amounts aggregating to approximately Rs 274 crore towards payment of professional and legal expenses" ever since their dispute arose in 2016. The brothers have been in a feud over the deed of family settlement for the assets

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