Nature of change: Appointment of Mr. Bhanu Prakash Srivastava as CEO-Defense Business and classification as Senior Management Personnel (SMP) of the Company.
Name and details: Mr. Bhanu Prakash Srivastava. No DIN (Director Identification Number) was disclosed in the filing.
Effective date: July 6, 2026. No specific term of appointment was mentioned.
Brief profile and qualifications: Mr. Srivastava holds a Bachelor of Technology (Mechanical Engineering) from IIT-BHU, Varanasi (1986 Batch) and a Master of Business Administration. He has over four decades of experience with Bharat Electronics Limited (BEL), where he held various senior leadership positions and made major contributions to business growth and profitability. His experience spans Radio & Data equipment, Military and Telecom Switching Equipment, C4I Systems for Civil & Military applications, Radars for Army, Air Force and Navy, Sonars, Fire Control Systems & Communication systems for Navy, and Surface-to-Air Missile projects for Naval Ships. He served as Chairman & Managing Director at BEL between 2022 to 2024. He has rich experience in diverse functions including Manufacturing, Project Management, Quality Management, Materials Management, Design & Development, and Product Support.
Confirmation of eligibility: The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, indicating compliance with regulatory requirements. However, no specific declaration of non-disqualification or eligibility under SEBI/BSE/NSE norms was explicitly mentioned.
Relationship with other directors: The disclosure explicitly states "Not Applicable" for relationships between directors, indicating no disclosed relationships with other directors or promoters.
Previous KMP: The filing does not mention who held the position of CEO-Defense Business previously, the nature of their exit, or whether the succession was planned or interim.
Governance implications: As the appointment is for CEO-Defense Business (a business unit head role rather than a whole-company CEO/CFO role), no specific governance or financial oversight implications were discussed in the disclosure.
Key Financial or Operational Approvals
No financial results, fundraising, acquisitions, capital infusion, business restructuring, or dividend declarations were mentioned in this disclosure.
Strategic or Business Context
The appointment signals Raymond Limited's continued focus and investment in its Defense Business segment.
Mr. Srivastava's extensive experience in defense electronics and systems from BEL suggests a strategic emphasis on strengthening technical capabilities and government/defense sector relationships.
No specific business outlook, risks, demand trends, expansion plans, or capex announcements were disclosed.
Any Other Material Information
The disclosure was signed by Mr. Rakesh Muljibhai Darji, Company Secretary of Raymond Limited.
