Bajaj Electricals has formally announced the appointment of Ashween Anand as Chief Financial Officer (CFO), effective May 16, 2026. In this role, Anand will lead the company's finance function, overseeing financial strategy, capital allocation, governance, compliance, and transformation initiatives to support the organisation's next phase of growth and value creation. Headquartered in Mumbai, Bajaj Electricals is a part of the $100 bn multinational conglomerate Bajaj Group and reported a turnover of INR 4,462 crores in FY 25-26.

Leadership Profile

Ashween Anand is an accomplished finance leader with over 16 years of diverse experience across finance, strategy, and governance. She has worked with leading global organisations including EY, Deloitte, Mondelez International, Colgate-Palmolive, and most recently Tata Starbucks — a joint venture between Tata Consumer Products and Starbucks — where she served as Chief Financial Officer. Her broad exposure spans financial planning, treasury, taxation, internal audit, and finance transformation, along with transaction advisory and assurance experience from her tenures at Deloitte and Ernst & Young.

Appointment Details

The following table outlines the key parameters of her appointment:

Management Commentary

Shekhar Bajaj, Chairman of Bajaj Electricals Limited, stated, "We are pleased to have Ashween joining our leadership team. She brings deep finance leadership experience, consistently driving robust governance frameworks and operational discipline across organizations. Her appointment will help us deliver long-term value to our shareholders and stakeholders."

Sanjay Sachdeva, Managing Director & CEO of Bajaj Electricals Limited, added, "We are delighted to welcome Ashween Anand to the leadership team at Bajaj Electricals, where she will spearhead the finance function. We are confident that Ashween's extensive experience in scaling businesses, leading financial transformation and excellence agendas, will be invaluable as we execute our strategic priorities."

About Bajaj Electricals

Bajaj Electricals Limited is a globally renowned Indian Consumer Appliances and Lighting Solutions company established in 1938. The company's business portfolio spans Consumer Products — comprising Appliances and Fans — and Lighting Solutions, covering both Consumer and Professional Lighting. Its key brand offerings include BAJAJ and Morphy Richards. Under its Lighting Solutions business, the company offers a wide range of innovative LED lamps and fixtures, including panels and battens, as well as wires and switchgears, and is known for its expertise in street lighting, sports lighting, and industrial, commercial, and infrastructural lighting projects.

Bajaj Electricals Limited has disclosed receipt of an adverse Order in Appeal dated May 15, 2026, issued by the Joint Commissioner, Secunderabad, Telangana, in connection with a Goods and Services Tax (GST) demand case. The disclosure was made to stock exchanges on May 16, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Background of the GST Demand

The matter originates from an order dated August 31, 2024, passed under Section 73 of the CGST/TGST Act, 2017, by the Office of the Deputy Commissioner, Secunderabad STU-1, Telangana. The GST Authority alleged that the company had claimed excess input tax credit (ITC) during FY 2019-20, resulting in a total demand being imposed on the company. The key financial details of the demand are as follows:

Adverse Appellate Order Received

Bajaj Electricals had previously filed an appeal against the original order. However, the Joint Commissioner, Secunderabad, Telangana, acting as the Appeal Authority, dismissed the appeal vide an Order in Appeal dated May 15, 2026, received by the company on May 15, 2026, at 03:06 p.m. The Appeal Authority did not consider the submissions made by the company and upheld the original demand.

Company's Response and Legal Remedies

Following the dismissal of its appeal, the management has stated it is evaluating appropriate legal remedies available under law. The options being considered include:

• Filing an appeal before the appropriate appellate tribunal
• Initiating writ proceedings before the Hon'ble High Court against the Appeal Order

Financial and Operational Impact

The company has clarified that the financial impact of the Appeal Order, if it materialises, would be limited to the extent of the demand raised and penalty levied thereunder. Bajaj Electricals further stated that there is no impact on the operational, financial, or other activities of the company on account of this order or assessment. The disclosure was signed by Prashant Dalvi, Chief Compliance Officer & Company Secretary, on May 16, 2026.