Pune: Kinetic Engineering Limited (KEL) has appointed Vinayak Jayaram Shevade as its new Chief Financial Officer (CFO) to steer the company’s financial strategy amid its ambitious expansion plans. Shevade’s appointment comes at a pivotal moment as KEL moves forward with its recently announced ₹177 crore investment initiative. This investment aims to enhance working capital, expand manufacturing capabilities, and accelerate the development of electric vehicle components, supporting the company’s goal of reaching ₹1,000 crore in revenue by 2029.
A Chartered Accountant and Commerce graduate from Mumbai University, Shevade brings over three decades of experience in financial planning, risk management, and regulatory compliance. He has previously held key leadership roles at Kinetic Honda Motor Limited, Mahindra Two Wheelers Limited, and Kinetic Engineering Ltd., making him exceptionally well-suited to guide KEL’s financial transformation and long-term growth.
Speaking about his new role, Vinayak Shevade said, “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’s appointment, 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 underscores KEL’s commitment to financial excellence and sustainable growth as it continues to broaden its presence and expand its capabilities, particularly in the electric vehicle sector.
