Pune-headquartered diesel engine and farm equipment manufacturer, Kirloskar Engine Oil (KOEL) has appointed Anurag Bhagania as the new Chief Financial Officer and key managerial personnel.
Bhagania has over 25 years of experience across finance and accounting functions including auditing and taxation, financial planning analysis and reporting, compliance & legal, merger and acquisition, corporate governance and investor relations. Earlier this year, in February 2022, he had stepped down from his position as CFO and KMP at SKF India. Prior to that, he had served as the head of India Finance at Honeywell Automation India before joining SKF India in 2019.
Bhagania is a Chartered Accountant and holds an MBA in marketing. He had served in SKF India, where, during his tenure as the Chief Financial Officer, he was instrumental in shaping and executing the strategy for sustainable and profitable growth through deep business partnering.
KOEL manufactures diesel engines, farm equipment and generator sets and has a sizable presence in international markets, with a strong distribution network throughout the Middle East and Africa. It also manufactures diesel engines for construction equipment. It specialises in manufacturing air-cooled and liquid-cooled engines for diesel generator sets across a wide range of power outputs (2kVA to 1500 KVA).
The company has also announced that it will acquire the balance equity stake in Ahmedabad-based, La-Gajjar Machineries. Having acquired 76 percent in LGM in 2017, the company had an agreement in place that it will acquire the balance holding in the next five years. Post the acquisition, LGM will become a complete subsidiary of KOEL.