Change in Director / Key Managerial Personnel

  • Nature of change: Appointment of a Whole-Time Director & Chief Financial Officer (CFO).
  • Name and DIN: Mr. K M Balaji (DIN: 08064743).
  • Effective date and tenure: The appointment is effective from May 28, 2026, for a period of two years. It is subject to the approval of the shareholders.
  • Brief profile and qualifications: Mr. K M Balaji is a Fellow member of the Institute of Chartered Accountants of India. He has completed Management Development Certifications at Harvard Business School Boston (Advanced Management Program - AMP 206), Kellogg School of Management Chicago, Indian School of Business Hyderabad, and IIM Ahmedabad. He currently serves as the President, Finance & Chief Financial Officer of the Company. He has a career spanning 32 years with the company, beginning in internal audit. His experience covers all areas of Finance including Treasury, MIS & Budgets, Costing, Investor Relations, Business Finance, Pricing and Product Cost Engineering, and Indirect Taxes. He has handled QIP documentation, enterprise valuation for stake sales, and the evaluation of all M&A proposals. He has also managed cross currency interest rate swaps (CCIRS) and raised more than ₹2000 Crores through the placement of Non-Convertible Debentures. He handled the finance function independently at a bus assembling plant in Leeds, United Kingdom for about a year. He was awarded Leading CFO of the year 2024-25 by the Confederation of Indian Industry for Excellence in Turnaround. He is a Member of the Tamil Nadu State Council (TNSC) and Chairman of the CFO Forum of TNSC of CII. He was a Co-convener for the Economic Affairs and Taxation Committee of CII during 2018-19. He is presently the Chairman of the Finance Committee of Global Automotive Research Centre (GARC) of National Automotive Board (NAB) of MOHI, Government of India and a Member of the Governing Council of National Automotive Board, Ministry of Heavy Industries, Government of India. He holds directorships in many of the company's associate companies.
  • Confirmation of eligibility: The disclosure confirms that Mr. K M Balaji is not debarred from holding the office of director pursuant to any SEBI order or any other authority.
  • Relationship with other directors: He is not related to the Directors of the Company as per the definition of 'relative' in the Companies Act, 2013.
  • Previous KMP: The disclosure does not mention the previous holder of the position or the nature of their exit.

Key Financial or Operational Approvals

This section does not apply to this disclosure. The board meeting was solely for the appointment of the director.

Strategic or Business Context

This section does not apply to this disclosure. No strategic or business context was provided.

Any Other Material Information

  • Committee Recommendation: The appointment was based on the recommendation of the Nomination and Remuneration Committee.
  • Regulatory Compliance: The disclosure is made pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD PoD1/P/CIR/2023/123 dated July 13, 2023.
  • Meeting Details: The Board of Directors meeting was held on May 28, 2026, commencing at 11:00 a.m. IST and concluding at 2:45 p.m. IST.