Kinetic Engineering Appoints Vinayak Shevade As CFO Amid Revival Plans
Kinetic Engineering Ltd. has appointed Vinayak Jayaram Shevade as its new chief financial officer, as the maker of the iconic but defunct Kinetic Honda scooter preps for a comeback.
Shevade, a chartered accountant and commerce graduate from Mumbai University, brings to the Ahmednagar-based auto-components maker three decades of experience in financial planning, risk management, and regulatory compliance. Previously, he had served in key leadership roles at Kinetic Honda Motor Pvt. and Mahindra Two-Wheelers Pvt. This would be his second stint at Kinetic Engineering.
“Vinayak's deep financial expertise and leadership will be instrumental in driving Kinetic Engineering's strategic objectives,” Ajinkya Firodia, vice chairman and managing director at the company, said in a statement on Monday. “We are confident that his experience will help propel the company's continued success.”
Shevade's return at Kinetic Engineering comes at a time when the company is preparing for a comeback of sorts with fresh investments from promoters. The Pune-based firm plans to issue convertible warrants worth Rs 177 crore with a conversion period of 18 months.
The idea is to become a Rs 1,000-crore enterprise by 2029, Firodia had told NDTV Profit during an interaction on Jan. 21, 2025. “An investment of Rs 180 crore is a lot of money for the next three years, and can propel us from Rs 150-160 crore to Rs 1,000 crore,” he had said then. “The learnings are in the past. Now is the time to grow.”
“I look forward to contributing to Kinetic Engineering's financial strength and supporting its ambitious growth plans,” Shevade said on his appointment in the statement. “My goal over the next two years is to strengthen the company's financial position by driving higher turnover, improving Ebitda and net profit, and optimising financial leverage.”
Kinetic Engineering's shares on Monday closed 3.73% higher at Rs 185 apiece on the BSE, compared to a 0.08% rise in the benchmark Sensex.
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