Kinetic Engineering Limited (KEL) has appointed Vinayak Jayaram Shevade as its new Chief Financial Officer (CFO) to lead the company’s financial strategy amid its ambitious expansion plans. Shevade’s appointment comes at a crucial time as KEL executes its recently announced Rs 177 crore investment initiative, aimed at enhancing working capital, expanding manufacturing capabilities, and accelerating the development of electric vehicle components. This strategic move aligns with the company’s goal of reaching Rs 1,000 crore in revenue by 2029.
Shevade, a Chartered Accountant and Commerce graduate from Mumbai University, has previously held key leadership roles at Kinetic Honda Motor Limited, Mahindra Two Wheelers Limited and Kinetic Engineering Ltd. With over three decades of expertise in financial planning, risk management, and regulatory compliance, he is well-positioned to support KEL’s financial transformation and long-term objectives.
Vinayak Shevade on his new role: "I am honored to take on this role at KEL, a company with a strong legacy of innovation and excellence. I look forward to contributing to its financial strength and supporting its ambitious growth plans. 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 optimizing financial leverage. I look forward to contributing to KEL’s growth journey and long-term success."
Ajinkya Firodia, Vice Chairman and Managing Director of KEL, welcomed Shevade, stating:
“Vinayak’s deep financial expertise and leadership will be instrumental in driving KEL’s strategic objectives. We are confident his experience will help propel the company’s continued success.”
Shevade’s appointment reflects KEL’s commitment to financial excellence and sustainable growth as it continues to expand its footprint in the industry.
