Kirloskar Brothers Limited has informed the Exchange regarding Appointment of Mr Bhavesh Chheda as Chief Financial Officer of the company w.e.f. May 14, 2025.
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Kirloskar Brothers Limited (KBL) announced multiple governance changes in a board meeting on May 14, 2025. Mr. Bhavesh Chheda, a 49-year-old Chartered Accountant with 23 years of finance experience (formerly CFO of Thermax Babcock & Wilcox Energy Solutions), was appointed as the new Chief Financial Officer and Key Managerial Personnel. Mr. Pradyumna Vyas (66), former Director of National Institute of Design and President-elect of the World Design Organisation, was appointed as Additional Independent Director for 5 years, subject to shareholder approval. Mr. Sanjay Kirloskar (68), the promoter and current Chairman & Managing Director, was re-appointed as MD for the period November 19, 2025 to March 21, 2027, also subject to shareholder approval. Additionally, PwC was appointed as Internal Auditor, Dinesh Birla & Associates as Secretarial Auditor (5-year term), and Harshad S. Deshpande & Associates as Cost Auditor, all for FY 2025-26.
These are largely routine governance and re-appointment actions, with shareholder approvals pending at the next AGM. The new CFO brings fresh external experience from the Thermax Group, which may signal a focus on strengthening financial controls, while promoter-led continuity at the top remains intact. The appointment of PwC as internal auditor could be seen as a positive governance signal.