Kirloskar Ferrous appoints Ajay Patil as Joint MD

Kirloskar Ferrous Industries announced that its board has approved the appointment of Ajay Patil as joint managing director (MD) for 3 years with effect from 21st September 2026 to 20 September 2029.

Ajay 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.

Until recently, he served as the Global Chief Financial Officer of RSB Transmission (India), a Bain Capital portfolio company. His career spans listed companies, private equity-backed businesses, multinational corporations and joint ventures. Over the years, he has held positions of increasing responsibility with leading diversified industrial technology companies such as Cummins, Honeywell, and Eaton, progressing to regional and global leadership roles with executive responsibilities across Asia Pacific, the Middle East, Africa, the Americas and global operations.

Patil brings extensive experience of 36 years in driving profitable growth, corporate governance, business strategy, capital allocation, enterprise transformation, mergers and acquisitions, joint ventures, sustainability and enterprise risk management.

R. V. Gumaste, managing director at Kirloskar Ferrous Industries (KFIL), said, ?We are pleased to welcome Ajay to our leadership team. His extensive expertise in business strategy and transformation will bring significant value to our organisation. This appointment further strengthens the leadership bandwidth and aligns with our priorities of sustainable growth, enhancing KFIL?s position in the market.?

Kirloskar Ferrous Industries is one of India's largest manufacturers of castings and pig iron. The company caters to a wide range of industries, including tractors, automobiles and diesel engines.

The company reported a 65.39% year-on-year decline in consolidated net profit to Rs 82.34 crore in Q1 FY27 from Rs 237.97 crore in Q1 FY26. Revenue from operations rose 4.29% year on year to Rs 1,736.95 crore in Q1 FY27.

The counter shed 0.02% to settle at Rs 480.40 on Monday, 21 September 2026.

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