Kirloskar Brothers - Outcome Of AGM

Kirloskar Brothers Ltd has informed that the members at the 87th Annual General Meeting (AGM) of the Company held on July 20, 2007, inter alia, have transacted the following:

1. Adopted the Audited Balance Sheet as at March 31, 2007 and Profit and Loss Account of the Company for the year ended on that date and declared a final dividend at the rate of 100% (Rs 2/- per equity share) on the 105,764,355 Equity Shares of Rs 2/- each fully paid-up for the financial year ended March 31, 2007, aggregating to Rs 211,528,710/-.

2. Approved re-appointment of retiring directors i.e. Mr. S N Inamdar, Mr. U V Rao and Mr. M S Kirloskar.

Mrs. Lalita D Gupte, Additional Director, has been elected as Director of the Company.

3. Approved issue of shares under Employees Stock Option Scheme to permanent employees, directors of the Company and of subsidiary Companies.

4. Passed a resolution authorising the Board of Directors to borrow moneys for the purposes of the Company not exceeding Rs 500 Crores (apart from the temporary loans obtained / to be obtained from the Companys bankers in the ordinary course of business).