Bajaj Electricals Limited has announced significant leadership changes through an official regulatory filing to BSE and NSE on March 16, 2026. The company has appointed Mr. Suketu Shah as Interim Chief Financial Officer and designated Mr. Rahul Pundir as Senior Management Personnel, both appointments taking effect immediately.

Key Leadership Appointments

The board meeting, which commenced at 11:15 a.m. and concluded at 12:35 p.m., resulted in two major personnel decisions that strengthen the company's management structure.

Suketu Shah's Professional Background

Mr. Suketu Shah brings extensive experience to his new role as Interim CFO. His professional credentials include:

• Over 13 years of experience in financial reporting and controllership
• Eight years of association with Bajaj Electricals
• Expertise in stakeholder management, strategic planning, and investor relations
• Leadership of the company's Investor Relations function

Shah has been instrumental in several transformational initiatives during his tenure with the company. His key contributions include the successful execution of a ₹350 crore rights issue, the demerger of the EPC business into a separately listed entity, and the institutionalization of key financial and governance policies. He has also played a crucial role in evaluating strategic investments and brand acquisitions.

Academic and Professional Qualifications

Suketu Shah's academic foundation reflects his commitment to continuous learning:

Regulatory Compliance and Governance

Both appointments were made in accordance with SEBI regulations and the company's internal policies. The decisions were based on recommendations from the Nomination and Remuneration Committee and the Audit Committee, ensuring proper governance protocols were followed.

The appointments comply with Regulations 26A and 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and align with the SEBI Master Circular dated January 30, 2026. Mr. Rahul Pundir's designation as Senior Management Personnel follows the company's earlier communication dated February 24, 2026.

Strategic Impact

These leadership appointments reflect Bajaj Electricals' focus on strengthening its management team with experienced professionals. Shah's extensive experience in financial management and his deep understanding of the company's operations position him well to drive financial discipline and support strategic decision-making in his interim CFO role. The formal regulatory filing demonstrates the company's commitment to transparency and compliance with listing requirements.

Bajaj electricals Limited has announced the grant of 18,894 stock options under its Performance Stock Option Plan 2023 to one eligible employee. The company's Nomination and Remuneration Committee approved this grant during its meeting held on March 16, 2026, in accordance with the Securities and Exchange Board of India regulations.

Stock Option Grant Details

The performance-based stock option grant represents a strategic employee incentive initiative under the company's established PSOP Plan 2023. The plan complies with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, ensuring regulatory adherence in its implementation.

Pricing and Exercise Terms

The stock options feature an exercise price structure aligned with the company's equity share face value. Each option carries an exercise price of Rs. 2.00 per equity share, matching the face value of the company's equity shares.

Regulatory Compliance and Disclosure

The company emphasized that this stock option grant maintains full compliance with applicable SEBI regulations. The disclosure was made pursuant to Regulation 30 of the SEBI Listing Regulations, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026, last updated on January 30, 2026.

Bajaj Electricals noted that while the grant did not trigger materiality thresholds, the company disclosed the information as part of its commitment to good corporate governance practices. The comprehensive details of the PSOP Plan 2023 terms are available in the company's Postal Ballot Notice dated November 6, 2023, accessible through the company's investor relations website.

Plan Structure and Implementation

The Performance Stock Option Plan 2023 represents a structured approach to employee compensation and retention. The two-year exercise period from the respective vesting date provides flexibility for option holders, with specific provisions outlined in the plan documentation for various scenarios.

The current grant status shows that no options have been vested, exercised, or lapsed at this stage, indicating this represents a fresh allocation under the established plan framework. The company's Chief Compliance Officer and Company Secretary, Prashant Dalvi, signed the regulatory filing, confirming the formal compliance with all applicable disclosure requirements.