Nature of change: Appointment of Mr. Uttam Kumar Bhageria as Chief Financial Officer (CFO)-Designate
Name and DIN: Mr. Uttam Kumar Bhageria (DIN not disclosed in document)
Effective dates: Appointed as CFO-Designate effective October 21, 2026; will assume full CFO and KMP role effective January 01, 2027
Profile and qualifications: Strategic and business-focused Finance leader with over two decades of experience. Proven track record includes leading transformational initiatives including a landmark ₹3,000 Crore acquisition, 5X market capitalization growth, corporate restructuring and large-scale capital market initiatives. Expertise in enterprise strategy, capital allocation, mergers & acquisitions, treasury, governance and investor engagement. Extensive experience collaborating with BCG and McKinsey on strategic transformation and diversification initiatives.
Eligibility confirmation: Not related to any Director of the Company (as per disclosure requirement)
Previous KMP: Mr. Shashidhar SK, currently serving as Group Chief Financial Officer (KMP), will attain superannuation on December 31, 2026 and demit office as KMP. The succession appears planned with a transition period from October 21, 2026 to December 31, 2026.
Governance implications: As CFO appointment, this represents a key financial oversight role change with implications for financial reporting, investor relations, and capital allocation strategy.
Key Financial or Operational Approvals
The Board of Directors approved the appointment of Mr. Uttam Kumar Bhageria as CFO-Designate based on recommendations of Nomination and Remuneration Committee and Audit Committee.
No financial results, fundraising, acquisitions, capital infusion, business restructuring, or dividend declarations were mentioned in this disclosure.
Strategic or Business Context
The appointment highlights the company's focus on maintaining financial leadership continuity through a structured succession plan.
Mr. Bhageria's experience with large-scale capital market initiatives (₹3,000 Crore acquisition, 5X market cap growth) suggests continued focus on growth and transformation strategies.
No specific business outlook, risks, demand trends, or expansion plans were disclosed in this filing.
Any Other Material Information
Board meeting details: Meeting held on October 16, 2026, commenced at 04:30 PM (IST) and concluded at 05:00 PM (IST)
Regulatory compliance: Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023, and last updated on January 30, 2026
