Kirloskar Ferrous Industries Ltd Net Profit Of Rs 57 Crore
Kirloskar Ferrous Industries Limited one of the leading castings and pig iron manufacturers in India, announced today its unaudited financial results for the second quarter ended 30th September 2023. Commenting on the Q2 FY 2024 results, R.V.Gumaste, Managing Director, KFIL, said “This has been a challenging quarter especially due to pressure of high input commodities prices. All our planned shutdowns are done now, and we expect normalized production capacities for the second half of the year. Casting demand for commercial vehicles and off-highway vehicles continued strong, however demand from tractor industry was subdued. During the quarter we completed the acquisition of Oliver engineering and we have taken the management control as on 29th September 2023.” Founded in 1991, Kirloskar Ferrous Industries Limited is one of India’s largest castings and pig iron manufacturers. The company caters to various industry sectors, such as tractors, automobiles and diesel engines. The manufacturing facilities at Koppal, Hiriyur and Solapur have the unique capability of producing a range of products that include grey iron castings up to 300 kg pieces. The company also produces various grades of pig iron such as SG iron grade, basic steel grade and foundry grade. Kirloskar Ferrous Industries Limited is expanding its manufacturing capacities in pig iron and casting. The company has 3D printing facilities, enabling fast development of new products and capability ramp-ups. The company supplies fully machined castings and has added a coke oven manufacturing facility with waste-heat recovery power.
Tags : Kirloskar Ferrous Industries Limited R.V.Gumaste Koppal Hiriyur Solapur Oliver engineering