Kirloskar Ferrous Industries Limited (KFIL) was incorporated on September 10th, 1991, a flagship Company of Kirloskar Group, promoted by Kirloskar Oil Engines Limited and Shivaji Works Limited. Shivaji Works Limited subsequently merged with Kirloskar Oil Engines Limited. The erstwhile company, Kirloskar Oil Engines Limited now changed its name to Kirloskar Industries Limited.
The Company is a market leader in India for manufacturing critical and intricate grey iron castings and quality pig iron. This is the only
company in Asia with an integrated business model of mines to machined castings. At present, the Company is the subsidiary of Kirloskar Industries Limited. Presently, it is having 3 manufacturing facilities, at Koppal District and Chitradurga District in Karnataka and at Solapur District in Maharashtra State. The Company is a pioneer in manufacturing of iron casting products.
KFIL had entered into a technical collaboration with M/s. Tata Kort Engineering Services Ltd in March of the year 1992 for its business purpose. The Company`s commercial production of Pig Iron from Mini Blast Furnace I and 3.5 MW Power Plant-1, using Blast Furnace Gas were started in the year 1994 and in the identical year, KFIL had issued Initial Public Offer. The commercial production of Grey Iron castings came to line in the year of 1995. In the same year of 1995, KFIL had started to produce Mini Blast Furnace II. The company had obtained an ISO 9002 certification. The Company`s 3.5 MW Power Plant-2 was installed in the year of 1997. In 1997, Turbo Generator II was taken on lease with a capacity for the generation of 3.5 MW of power using Blast Furnace Gas. TG - II was taken on lease. After a year in 1998, the company started supply of TG power to foundry.
During the period of 1999-2000, KFIL had entered into a long term contract for pig iron with an institutional buyer and also secured a sales tax exemption for further two years. During the year 2000, the company entered into financial restructuring with IDBI and with other institutions namely IFCI, IIBI, GIC, OIC, LIC and NIA. In 2001, KFIL had received an ISO 9002 certification. After a year, in 2002, an ISO 14000 certification was handed over to the company. KFIL had entered into one time settlement with Financial Institutions for the repayment of the high cost Loans in the year 2003. An ISO / TS 16949:2002 certification was added to the company`s quality list in the year of 2005. KFIL had purchased the MBF II and TG I, II in the year 2006 for its various purpose, which were earlier taken on lease. During the year 2007, the company had acquired Solapur foundry from Kirloskar Oil Engines Ltd and also Hot Blast Stoves project for Mini Blast Furnace -1 was commissioned.
During the year 2019-10, the Company installed stoves for second Mini Blast Furnace in January, 2010. It commissioned 4.5 MW power plant at Koppal plant, Karnataka in July, 2010. The sinter plant was commissioned in January 2012 and stabilised by end of February 2012.
In 2016, Mini Blast Furnaces were operational. Further one furnace was taken up for refractory relining from 15th February, 2016. The relining of the furnace was completed on 4th April, 2016. During the fourth quarter, upgradation of MBF-1 was completed and production of pig iron resumed from this furnace on 17th January, 2017. It commenced the civil work for machine shop at Koppal Plant in 2017. It installed fettling facilities for superior casting finish at Solapur Plant. It commenced Railway siding project and completed the civil work. It upgraded Mini Blast Furnace I and increased the production capacity of pig iron.
In 2018, the Company installed and commissioned 10 MW AC (11 MW DC) solar power plant at Solapur in October, 2018. It acquired two mines, M/s. Bharath Mines & Minerals and Sri. M Channakesava Reddy (M/s. Sri Lakshmi Narasimha Mining Co) by participating in the mines auction in Karnataka. It commissioned the 3D printing facility installed at Koppal Plant and improved Turbo Generator capacity with upgradation in Mini Blast Furnace.
During year 2018-19, Company started machining of Proto castings in addition to Proto type casting using 3D Printing. It commissioned 2 lakh Metric Ton Coke Oven project on 31st March, 2020. It commissioned railway siding project at Koppal plant, which was operational. Various projects for capacity expansion in foundry, fettling and finishing of castings and machine shop were undertaken both at Koppal and Solapur units, to meet the increasing demand for castings from customers. First phase was installed and commissioned for manufacturing of large casting equipments weighing in range of 500 to 2500 kgs.
During the year 2020-21, the Company acquired movable and immovable assets relating to the pig iron plant of VSL Steels Limited with a capacity of 1,50,000 MT per annum at Paramenahally Village, Chitradurga District, Karnataka in December 2020. It commenced manufacturing operations of pig iron plant after renovation of plant and machineries on 8 February 2021. It achieved 100% capacity utilisation of Coke Oven plant, which was commissioned in March 2020. It installed conveyors from coke oven plants to mini blast furnaces to reduce handling loss. The 20MW Power Plant, working on waste gas generated from Coke Oven plant was commissioned in June, 2020. The mining of Kirloskar Bharat Mines was operational from April 5, 2021.
During year 2021-22, Company acquired around 51% stake in Indian Seamless Metal Tube (ISMT) Ltd., India`s largest integrated specialist seamless tube producer thereby taking the management control of the same. The Sinter plant at Hiriyur was commissioned in November 2021 and stabilised by January 2022. It established a new moulding line at Solapur plant with a capacity of 40,000 MT per
annum. It upgraded Mini Blast Furnace II with Bell-less top equipment. It installed Pulvarised Coal Injection into Mini Blast Furnaces with Oxygen facility.
Kirloskar Ferrous Industries share price as on 17 Jul 2024 is Rs. 452.2. Over the past 6 months, the Kirloskar Ferrous Industries share price has increased by 4.45% and in the last one year, it has increased by 69.11%. The 52-week low for Kirloskar Ferrous Industries share price was Rs. 441 and 52-week high was Rs. 534.
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