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Pune-based manufacturer of diesel engines Kirloskar Oil Engines Ltd (KOEL) has entered into a licence agreement with Daihatsu Diesel Manufacturing Co Ltd, Japan, for the manufacture and supply of their diesel engines in India.
Mr Atul Kirloskar, Chairman & Managing Director, KOEL, and Mr Yoshiro Furukawa, Chairman of Daihatsu Diesel Mfg Co Ltd, signed the agreement recently in Japan.
Under the agreement, KOEL will make Daihatsu engines in the 440-2560 KW range, and cater to the requirement of Propulsion and Auxiliary Power (DG Sets) for commercial ships. These will be manufactured at the company's facility in Nashik where its large engines 1800-6300 kVA are made.
Meanwhile, KOEL has posted a flat growth in sales and net profit during the first quarter of FY 12, results of which were announced today. The company's PAT stands at Rs 43.4 crore (Rs 42.6 crore), while sales income was Rs 555 crore, marginally lower than Rs 563 crore in the same quarter of last fiscal.
Earlier, at its AGM, shareholders approved a dividend of 200 per cent on a share with a face value of Rs 2.
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