en.Wedoany.com Reported - Indian steel company Kirloskar Ferrous Industries Ltd (KFIL) disclosed in an exchange filing on June 18, 2026, that it has secured an export order for basic grade pig iron from a UK buyer, with a contract value of approximately $13.5 million (about 13.51 million USD), involving 30,000 tons (±5%) of product, to be executed by August 15, 2026. The order is backed by a sight letter of credit as payment security. KFIL clarified in the filing that neither the company's promoters nor promoter group entities hold any interest in the customer, and the contract does not constitute a related party transaction. Boosted by this news, KFIL's share price rose 13.28% to 503 rupees on June 18, hitting a 52-week high of 508.45 rupees during intraday trading.
Kirloskar Ferrous Industries Ltd, established on September 10, 1991, is the flagship enterprise of the Pune-based Kirloskar Group, jointly founded by Kirloskar Oil Engines Limited and Shivaji Works Limited. The company is a subsidiary of Kirloskar Industries Limited. KFIL is one of India's largest manufacturers of castings and pig iron, with business segments covering castings, steel pipes, and steel. Its products include basic grade pig iron, ductile iron, and foundry grade pig iron, supplying foundries in industries such as automotive, engines and compressors, textiles, pumps and valves, pipe fittings, and fans. The company also produces customized gray iron castings for original equipment manufacturers and tier-1 suppliers. KFIL operates manufacturing plants in Karnataka (Koppal and Chitradurga districts) and Maharashtra (Solapur, Ahmednagar, Baramati, and Jejuri). Its shares are listed on the Bombay Stock Exchange (Code: 500245) and the National Stock Exchange (Code: KIRLFER).
According to industry data, India's pig iron exports in fiscal year 2026 rebounded sharply to approximately 610,000 tons, up nearly 115% from 280,000 tons in fiscal year 2025, marking the strongest export performance in five years. Market participants noted that the FOB price of Indian basic pig iron is around $430 to $440 per ton (India's west coast). KFIL's UK export order comes amid improving Indian pig iron export activity, with overseas demand supporting domestic sentiment and spot supply in the Indian pig iron market. In the fourth quarter of fiscal year 2026, KFIL's consolidated net profit increased by 33.32% year-on-year to 1.231 billion rupees, while operating revenue rose 4.61% year-on-year to 18.1716 billion rupees.
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