Date: July 16, 2021
Publication: Business Standard
Kirloskar Oil Engines, Kirloskar Chillers, Kirloskar Pneumatic, Kirloskar Ferrous Industries and Kirloskar Industries have launched a new brand logo and refreshed their business vision.
The new 'Limitless' vision will span over eight business areas led by Atul and Rahul, and will lay the foundation for aggressive plans in the B2C domain. This will include large investments over two to three years across all business lines and investments in new technologies, apart from new offerings including real estate and NBFC.
In order to strengthen their businesses, the companies have hired several industry veterans including Mahesh Chhabria at Kirloskar Industries, Vimal Bhandari at Arka Fincap, Vinesh Jairath for the real estate business and K Srinivasan at Kirloskar Pneumatic.
Arka Fincap was established last year as a subsidiary of Kirloskar Oil Engines and began operations with a seed capital of Rs 1,000 crore. It is focusing on structured term financing solutions for corporations and loans to MSME borrowers and the real estate sector. In three years, Arka Fincap will expand into retail lending and consumer finance.
Atul Kirloskar, Executive Chairman of Kirloskar Oil Engines, said: "We have undertaken the journey towards becoming a fully integrated conglomerate. Our new vision keeps the changing needs of the customer in mind, reorienting us from manufacturing to solutions around it. We are going from a solid, engineering-driven firm to a future-ready firm, geared for an enhanced customer experience."