CG Power & Industrial Solutions has announced a significant change in its senior management team with the resignation of a key executive from its consumer products division.

Senior Management Departure

Mr. Sriram Rangarajan, Executive Vice President and SBU Head-Consumer Product Business, has tendered his resignation from the company effective from the close of business hours on March 19, 2026. The departure was attributed to personal reasons, as communicated in the official regulatory filing.

Resignation Timeline and Process

The resignation process began in December 2025, when Mr. Rangarajan initially communicated his decision to MD & CEO Amar Kaul. In his resignation communication dated December 20, 2025, he had requested relief by February 20, subject to completion of handovers and responsibilities. However, his actual last working day was March 17, 2026, with the resignation becoming effective on March 19, 2026.

The resignation was formally accepted by Vrushali Gadkari, Chief Human Resources Officer (CHRO) of the company, who confirmed the final working arrangements.

Regulatory Compliance

CG Power has fulfilled its regulatory obligations by informing both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) about this senior management change. The notification was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates disclosure of material events and information.

Transition Management

According to the resignation correspondence, Mr. Rangarajan committed to ensuring a smooth transition process. He expressed his intention to work closely with the team to hand over all ongoing matters in an orderly manner, demonstrating professional responsibility during the transition period.

The company has not yet announced any replacement for the Consumer Product Business leadership role, though such appointments typically follow internal succession planning processes.

CG Power & Industrial Solutions Limited has successfully obtained regulatory approval for a significant change in its shareholding structure. The company announced that both major Indian stock exchanges have granted permission for the reclassification of a key entity from its promoter group to public category.

Stock Exchange Approvals

Both the National Stock Exchange of India Limited and BSE Limited granted their respective approvals on March 18, 2026. The approvals were communicated through official letters from both exchanges, marking the completion of the regulatory process that began with the company's application in January 2026.

Reclassification Details

The reclassification involves Algavista Greentech Private Limited, which will transition from the "Promoter and Promoter Group Category" to the "Public Category." This change was processed under Regulation 31A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Framework

The reclassification was conducted in accordance with SEBI's listing regulations, specifically Regulation 31A which governs the reclassification of promoters and promoter groups. Both exchanges have emphasized the need for continued compliance with disclosure requirements related to this reclassification.

The NSE approval was issued by Apeksha Raichura, Manager – Listing Compliance, while the BSE approval was signed by Jayshree Soni, Deputy Vice President - Listing Compliance, and Krishna Rathi, Deputy Manager- Listing Compliance. Both exchanges have mandated that the company ensure compliance with subsequent relevant disclosures of material events related to this reclassification.

Corporate Communication

The announcement was made through a formal communication to both stock exchanges by Sanjay Kumar Chowdhary, Company Secretary and Compliance Officer of CG Power and Industrial Solutions Limited. The communication referenced earlier correspondence dated December 18, 2025, and January 27 and 30, 2026, indicating a structured approach to the reclassification process.