Kirloskar Oil Engines wins prestigious order from the Indian Navy

The Indian Navy and Kirloskar Oil Engines Limited (KOEL) have signed a project sanction order under Make - I, for the design and development of a 6MW Medium Speed Marine Diesel Engine, on 2nd April 2025, in the presence of Shri Sanjeev Kumar IAS, Secretary (Defence Production) and Vice Admiral Krishna Swaminathan, Vice Chief of the Naval Staff. KOEL was represented by Mr. Vinod Menon, Head of Industrial Business, Mr. Sachin Kejriwal, Chief Financial Officer, KOEL, Mr. Sanjay Mujumdar, Head, Marine and Defence Business and Mr. Najeeb Rahman, Marine Segment Leader.

The prototype diesel engine will have an indigenous content of over 50% and will be developed at a cost of Rs 270 Cr with 70% funding from the Government of India. Under this order, Kirloskar Oil Engines will design and develop inhouse, medium speed engines, scalable from 3 MW to 10 MW and the developed engines will be used for Main Propulsion and Power Generation on ships of Indian Navy and Indian Coast Guard. Currently, most of these engines are imported and this project is a significant step in the Government of India's vision of indigenisation and achieving self-reliance in marine engine development in this country. This marks a significant step in the ongoing efforts of the Government of India to indigenise critical technologies and achieve Aatmanirbharta in Defence.

Kirloskar Oil Engines is proud to be associated with this critical project, and this order is a testimony of Kirloskar Oil Engines' commitment to 'Make in India' and continuing to be an 'India First' organization. The design and development of the project will be done indigenously, by the R&D teams of KOEL. This project is a reflection of the engineering and R&D strength of the organization.

Gauri Kirloskar, Managing Director, Kirloskar Oil Engines said 'We are honoured to be selected by the Indian Navy for this prestigious project and to have the opportunity to contribute to the building of our nation. This is a proud moment for all of us at KOEL, and I am sure that with the technical and R&D strength that we have, we will be able to deliver yet another world class product to the Indian Navy. We would like to thank the Ministry of Defence and the Indian Navy, for their support and guidance.'

Shares of Kirloskar Oil Engines Limited was last trading in BSE at Rs. 729.20 as compared to the previous close of Rs. 725.50. The total number of shares traded during the day was 14045 in over 1002 trades.

The stock hit an intraday high of Rs. 734.90 and intraday low of 702.05. The net turnover during the day was Rs. 10149588.00.

Source : Equity Bulls

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