Company Update

Kirloskar Ferrous Industries (KFIL) has announced its Board has approved a scheme to merge two wholly-owned subsidiaries, Oliver Engineering Private Limited (OEPL) and Adicca Energy Solutions Private Limited (AESPL), into KFIL.

This strategic consolidation aims to streamline operations, cut costs, and boost overall efficiency by pooling resources and leveraging synergies.

OEPL, involved in ferrous castings, had a turnover of 15.03 Cr, while AESPL, a solar energy projects firm, had nil turnover.

KFIL, a much larger entity, will see no change in its shareholding pattern as no new shares are issued to effect this merger.