Company Made Four Senior Appointments in Its 2025 Management Reset

Company made four senior appointments in its 2025 management reset, filling finance, sales, sourcing and human-resources roles between April 7 and December 15. The prospectus lists six changes in key managerial personnel and senior management during 2025, including two resignations in sales and human capital; it does not identify a departing chief financial officer.

How extensive was Company’s 2025 management reset?

Company disclosed six changes in key managerial personnel and senior management during calendar 2025: four appointments and two resignations. The appointments were Gatham Anandan Balaji as Chief Financial Officer on October 16, Sudhindra Ramachandra Sabnis in sales on September 17, Pranesh Kumar in sourcing and purchase on April 7, and Naresh Rajendran in human resources on December 15.

The two 2025 departures were P L Palanisamy, who resigned as Vice President of Sales and Marketing on March 17 for personal reasons, and Suresh Babu S, who resigned as Vice President of Human Capital on September 11 for personal reasons. The disclosed changes therefore covered finance, sales, sourcing and human resources, but the prospectus does not say that Balaji replaced a named predecessor or that his appointment followed a resignation.

The changes table spells the Chief Financial Officer’s middle name as “Anandhan”, while the senior-management disclosure identifies him as Gatham Anandan Balaji. The current organisation structure identifies Balaji as Whole-Time Director and Chief Financial Officer, a Board-level role alongside Managing Director Kennady V Kaippally.

Who now leads Company’s finance, sales, sourcing and HR functions?

Company’s current structure assigns finance to Balaji, sales and customer service to two leaders, sourcing and purchase to Kumar, and human resources to Rajendran. Balaji’s October 16, 2025 appointment is the only Chief Financial Officer change recorded in the disclosed preceding three years, leaving the identity, timing and reason for any prior finance leader’s departure undisclosed.

Company divides sales and customer service by product category. Sanjay Patwari is Director of Sales and Customer Services for off-highway mobility and wind-industry products, while Sabnis is Director of Sales and Customer Service for industry and automation products. Sabnis joined in September 2025 and has more than 24 years of sales and marketing experience; the changes table describes his September 17 appointment as Vice President of Sales and Marketing, while his current profile gives him a director title.

Kumar joined on April 7, 2025 with more than 28 years of sourcing and purchasing experience, and Rajendran joined in December 2025 with more than 21 years in human-resources management. The detailed senior-management disclosure calls the sourcing executive Pranesh Kumar, although the organisation chart names a “Prashant Kumar” as Vice President of Sourcing and Purchase. The prospectus does not explain that name difference.

What changed from the earlier three-year management record?

Company’s three-year disclosure shows repeated changes in sales and in the Company Secretary position, rather than changes confined to 2025. Sales and marketing recorded Seshan Iyer’s resignation on March 17, 2023, Palanisamy’s appointment on September 11, 2023, Palanisamy’s resignation on March 17, 2025, and Sabnis’s appointment on September 17, 2025.

The Company Secretary role changed three times between April 2023 and November 2024. Merla Bindhu Madhavi resigned on April 21, 2023, Narasimman Arthi was appointed on April 22, 2023 and resigned on November 16, 2023, and Sunil Kumar was appointed on November 27, 2024. Kumar remains Company Secretary and Compliance Officer and has been associated with Company since November 2024.

Sourcing also changed before the 2025 appointment. Srinivasa Kannan resigned as Vice President of Sourcing and Purchasing on October 30, 2024 for personal reasons, and Kumar joined about five months later on April 7, 2025. The disclosed timeline links the 2025 sourcing appointment to an earlier disclosed departure, while the sales and human-resources appointments followed their respective resignations during 2025.

What do the disclosures say about management continuity and incentives?

Company states that all key managerial personnel and senior-management members are permanent employees. It also says none is related to another member of management or to a director, and that no arrangement or understanding with major shareholders, customers, suppliers or others led to their selection.

Company had no employee stock option scheme as of the Draft Red Herring Prospectus date and says no key managerial personnel or senior-management member was party to a bonus or profit-sharing plan. It also reports no non-salary-related payment or benefit within the two preceding years, other than ordinary-course employment items and disclosures relating to appointments and related-party transactions.

Fiscal 2025 compensation varied across the disclosed current senior group. Patwari received Rs 98.1 lakh, Director of Manufacturing Loganathan Nagaraj received Rs 99.7 lakh, Kumar received Rs 69.1 lakh and Rajendran received Rs 3.9 lakh. Sabnis received Rs 35.4 lakh in Fiscal 2025 after joining in September 2025, and the prospectus says no Fiscal 2025 compensation accrued for these profiles was payable later.

What must hold for Company’s revised leadership structure to persist?

Company’s 2025 management reset will persist only if the four appointees remain in the functions shown in the current structure: Balaji in finance, Sabnis in industry and automation sales, Kumar in sourcing and purchase, and Rajendran in human resources. Permanent employment status does not establish a fixed tenure, and the prospectus does not disclose service contracts providing termination or retirement benefits beyond statutory benefits.

The prospectus separates management appointments from Company’s promoter ownership. Bonfiglioli S.p.A. held 187,995,834 equity shares, representing 100.00% of Company’s pre-Offer issued, subscribed and paid-up equity share capital as of the prospectus date. Company nevertheless says that no management member was selected under an arrangement or understanding with major shareholders.

Conclusion

Company’s 2025 management reset comprised four appointments across finance, sales, sourcing and human resources, alongside two disclosed resignations in sales and human capital. The record does not indicate a complete replacement of the senior team because manufacturing, marketing, the mobility-and-wind sales role and the Company Secretary position were held by executives associated with Company before 2025.

The next point to watch is whether later Company disclosures retain the four 2025 appointees in the responsibilities shown in the organisation structure. Any future update could also clarify the differing titles for Sabnis, the differing sourcing executive names in the organisation chart and senior-management profile, and the Chief Financial Officer transition that the prospectus does not describe.