India’s Top 500 Value Creators 2023

India’s Top 500 Value Creators 2023 | 41 [ EXPERT’S VIEW ] What are some of the key milestones in Kirloskar Ferrous Industries Limited’s journey as a value creator? Kirloskar Group, one of the major Indian Conglomerates, founded in 1888, has been shaped bymoments of inspiration, perseverance & courage, kick starting the Industrial Revolution in India going beyond the wealth creation for society. Kirloskar Ferrous Industries Limited, a proud addition to the K-Group in 1991 started production in 1994. KFIL is a Market leader in Grey Iron castings business and Foundry grade Pig Iron business in India. KFIL progressively mastered in manufacturing of critical and complicated castings. Today KFIL Foundry delivering Euro-VI castings to world leading OEMs. The company acquired a Pig Iron asset in 2021 to achieve business growth to enhance bandwidth in line with Business growth; to expand the casting business capacity introduced one more line in Solapur. KFIL has Pig Iron and Casting businesses having manufacturing locations in Koppal & Hiriyur – Karnataka state, Solapur – Maharashtra state. R V Gumaste Managing Director Kirloskar Ferrous Industries Limited A Kirloskar Group Company In the year 2021-22, KFIL acquired ISMT manufacturer of Alloy steel and Seamless tubes, plants located at Ahmednagar, Baramati & Jejuri. In the year 2022-23, KFIL acquiredOliver Engineeringmanufacturer of Grey Iron Castings located in Sandharsi, Punjab. What are the key initiatives company taking in terms of enhancing business productivity in the changing global environment? KFIL Leadership team strategies in transforming the business through Business Innovations in the areas of Technology, People and Processes cont r i buted to the company ’ s success. Introduced contemporary technologies in the manufacturing of Grey Iron Castings & Pig Iron to bring the competitiveness in Productivity, Quality and Cost. KFILstronglybelievesanddemonstrates “people first” in all actions with various leadership development programs in developing technical and soft skills including managerial and business ski l ls. Focusing on the power of systems approach, established robust systems and processes with TQM philosophy, continual improvement of Management Systems like, Quality, Safety and Environment in letter & spirit, Implementation of Business Excellence Six Sigma, ToC, TPMand 5S etc., enabled for Business Excellence and Sustainability. Winner of CII-EXIM Bank Business Excellence Award. How is company leveraging data and technology to improve its business resilience? KFIL using the 3D printing for Cores manufacturing in achieving faster development of castings, elimination of tooling manufacturing and saving time. Using UG 3Dmodelling Software 3DModel Designing, NETFABB, Xprep softwares for Job box lay out and instruction to 3Dprinting, Proto casting manufacturing facility to understand casting behavior at Start of Production itself and Machining of proto castings faster development of final casting. This proto type process helps in ramping up of serial production. Casting validation is done using Laser Scanning Machine and Coordinate Measuring Machine. In-house R&D facility accredited by DSIR. How has company made ESG principles a core part of its business strategy, and how does sustainability help the company create value for its stakeholders? KFIL has set up an ESG Committee for decision making on the sustainability related initiatives and to oversee the implementation of Environmental, Social, Governance and economic related obligations. The company ESG framework is a set of principles and standards that are used to measure and manage environmental, social, and governance (ESG) performance. The c ompa n y d i s c l o s e s ESG parameters and initiatives taken to create the value for its stakeholders and sustainable future. KFIL won the 2023 IIMNational Sustainability Award (Fe)” Category: DRI Plants/Pig Iron/ Major Re-rolling units category from The Indian Institute of Metals. “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 & Bradstr et