Kirloskar Industries Limited has informed the Exchange regarding 'Updates of Material Subsidiary'.
KIRLOSIND · price
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Awaiting price reaction for this filing.
Kirloskar Industries informed the exchange that its listed material subsidiary, Kirloskar Ferrous Industries Limited (KFIL), has closed the voluntary liquidation of its Luxembourg-based subsidiary, ISMT Enterprises SA, on 27 August 2025. The formal Certificate of Deregistration is still awaited from the Luxembourg Trade Registry. ISMT Enterprises SA had a total income of ₹2.88 Crores and a profit after tax of ₹2.50 Crores in FY25, but carried a negative net worth as of 31 March 2025. The entity was small and non-core, making this largely a housekeeping exercise for the Kirloskar Group.
Minimal financial impact for shareholders, as the liquidated subsidiary was very small in size and had negative net worth. The move simplifies the group structure and removes a loss-making overseas entity, which is neutral to slightly positive for KFIL's reported numbers going forward.