Kinetic Engineering Limited (KEL) has announced the appointment of Vinayak Shevade as its Chief Financial Officer, effective February 17, 2025. With more than 30 years of expertise in financial management, Shevade will oversee the company’s financial operations and strategic direction.
This appointment coincides with KEL’s launch of a Rs 177 crore investment initiative, which focuses on enhancing working capital, expanding manufacturing capacity, and advancing electric vehicle component development. The company is targeting Rs 1,000 crore in revenue by 2029.
“I’m excited to step into this role at KEL,” said Shevade. “My goal is to strengthen the company’s financial standing by boosting turnover, EBITDA, and net profit over the next two years.” Before joining KEL, Shevade held prominent financial roles at Kinetic Honda Motor Limited and Mahindra Two Wheelers Limited.”
KEL Vice Chairman and Managing Director Ajinkya Firodia stated that Shevade’s financial expertise would play a crucial role in driving the company’s strategic goals forward.
Shevade, a Chartered Accountant and Commerce graduate from Mumbai University, brings vast experience in financial planning, risk management, and regulatory compliance.
Founded in 1972, Kinetic Engineering has established itself as a prominent player in India’s automotive component manufacturing industry. Over the years, the company has successfully navigated market shifts, evolving from two-wheeler manufacturing to becoming a leading supplier of automotive components. Recently, KEL has expanded its focus to include electric vehicle components, in response to the growing shift toward electrification within the automotive sector.
The company’s current investment initiative, its largest capital expenditure in the last decade, underscores KEL’s intent to tap into the rising demand across both traditional and electric vehicle markets.
