India’s TOP 500 Companies 2021

INDIA’S TOP 500 COMPANIES 2021 138 Experts’ View How would you summarize the journey of Kirloskar Ferrous Industries? What are some of the key milestones the company has achieved? Kirloskar Group, one of the major Indian Conglomerates, founded in 1888, has been shaped by moments of inspiration, perseverance & courage, kick starting the Industrial Revolution in India going beyond the wealth creation for society. Kirloskar Ferrous Industries Limited (KFIL), a proud addition to the K-Group in 1991 started production in 1994. KFIL is a Market leader in Grey Iron castings business in India and Market leader in Foundry grade Pig Iron business in India. KFIL started with manufacturing of simple castings and progressively mastered in manufacturing of critical and complicated casted castings. Today KFIL Foundry delivering Euro-VI castings to world leading auto-manufacturers. For achieving Sustained Profitable Business Growth, KFIL strategized on a set of comprehensive Leadership initiatives including forward integration for foundry business with machining to cater to Premium Customers, Capacity additions in foundry and pig iron, backward integration in pig iron business with Shaft- less stoves, Sinter plant and Coke oven plant. Company also invested in power plant using the waste gas generated in the manufacturing process thereby achieving the near self-sufficiency in the power requirement at Koppal plant at a marginal cost of power generation. The company also invested in Solar power plant in Solapur to achieve green energy and also benefit on the power cost. The company acquired a Pig Iron asset recently to achieve business growth. To enhance bandwidth in line with Business growth, Technology adaptations in manufacturing process including Robotics and 3D printing was successfully implemented. Now KFIL infrastructure is from Mines to Machined Castings. What are the key factors that have contributed to the company’s success? What are the factors that give Kirloskar Ferrous Industries an edge over its competitors? KFIL Leadership team strategies in transforming the business through Business Innovations in the areas of Technology, People and Processes contributed to the company’s success. Introduced contemporary technologies in Foundry & Pig Iron Plant. KFIL strongly believes and demonstrates “people first” in all actions. KFIL focus to inculcate and balance technical skills with soft skills including managerial and business skills through exposure to various internationally renowned managerial development programs. Focusing on the power of systems approach, establishing robust systems and processes with Total Quality Management philosophy, continual improvement of Management Systems like, Quality, Safety and Environment systems in letter & spirit. Further implementation of CII/ EFQM Business Excellence Model, Six Sigma Approach, ToC and TPM, 5S etc., in plants enabled for Business Excellence and Sustainability. KFIL has attained market leadership in casting and pig Iron business through delivering unique value propositions like, In casting business: Manufacturing of critical castings, Surface finish, rapid prototyping using 3D printing facility, faster Product Development support, consistent delivery performance and etc., In Pig Iron business: Consistency in chemical composition, less slag content, high yield, low Ti, Low ph SG grade Pig Iron and etc., What is the company’s growth strategy over the next 3-5 years? To cater to the continues business growth, KFIL has drawn clear direction and road map to achieve. In Pig Iron business: • Enhancing the capacities of existing Mini-Blast furnaces • Reducing the manufacturing cost • Embark on to new businesses for value addition In Castings Business: • Capacity augmentation & utilization • Expanding machining business • Enter into large casting segment • Expanding casting business – by both organic & inorganic route and diversify into new segments. KIRLOSKAR FERROUS INDUSTRIES LIMITED R. V. Gumaste Managing Director The mark ‘Kirloskar’ used in any form as prefix or suffix is owned by Kirloskar Proprietary Limited and Kirloskar Ferrous Industries Limited is the permitted user Dun & Bradstreet