Shares of Kirloskar Ferrous Industries Ltd (KFIL) witnessed strong buying interest in early trade, surging more than 13% after the company announced a significant export contract valued at approximately USD 13.51 million (around ₹116 crore).
The company disclosed through a stock exchange filing that it has received an order from a customer based in London, United Kingdom, for the supply of 30,000 metric tonnes (±5%) of basic grade pig iron. The contract will be executed on a Free on Board (FOB) basis, with shipments expected to be completed by August 15, 2026.
A key highlight of the deal is the payment structure, which will be secured through a Letter of Credit payable at sight. This arrangement minimizes payment risk and provides greater certainty regarding cash flow realization.
Kirloskar Ferrous also clarified that the transaction does not involve any related-party interests. The company stated that neither its promoters nor promoter group entities have any connection or financial interest in the overseas buyer.
The order marks another step forward in the company's efforts to expand its global presence and strengthen export revenues. Market participants viewed the development positively, leading to a sharp rise in the stock price during the session.