Greaves Cotton Limited has officially announced a key leadership transition with the resignation of Mrs. Akhila Balachandar from her position as Chief Financial Officer and the appointment of Mr. Manish Poddar as Group Chief Financial Officer, both effective March 19, 2026. The changes were formalized through regulatory filings pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Approval and Regulatory Compliance

The Board of Directors approved the CFO transition during their meeting held on March 13, 2026, from 09:45 a.m. to 10:30 a.m. (IST). The appointment received recommendations from both the Nomination and Remuneration Committee and Audit Committee before receiving final Board approval, ensuring full compliance with regulatory requirements.

Leadership Transition Details

Mrs. Balachandar formally submitted her resignation letter on February 19, 2026, citing personal reasons and other priorities. In her resignation letter addressed to Managing Director Parag Satpute, she expressed gratitude to the Chairman, Board of Directors, and management team while committing to ensure a smooth transition for seamless continuation of organizational operations.

New CFO Profile and Experience

Mr. Manish Poddar brings over 25 years of comprehensive experience in finance, treasury, investor relations, governance, and strategic business partnering. His appointment positions the company to advance its diversified engineering solutions across key sectors.

Authorized Regulatory Personnel

Following the leadership change effective March 19, 2026, three officials are designated as authorized personnel for determining materiality of events and ensuring timely stock exchange disclosures under Regulation 30(5) of the Listing Regulations:

• Mr. Parag Satpute - Managing Director & Group CEO
• Mr. Atindra Basu - Group General Counsel & Company Secretary
• Mr. Manish Poddar - Group Chief Financial Officer

The transition reflects Greaves Cotton's commitment to maintaining robust financial governance while supporting its strategic growth initiatives across Energy, Mobility, and Industrial Solutions under the Greaves.NEXT strategy.

Greaves Cotton Limited's subsidiary, Greaves Electric Mobility (GEM), announced its strategic international expansion into Nepal on 26 February, 2026, marking a significant milestone in the company's growth journey. The expansion involves launching the flagship Ampere Nexus electric scooter in partnership with STC Auto Solution Private Limited.

Strategic Market Entry

The Ampere Nexus represents a carefully engineered solution for Nepal's unique mobility challenges. India's first E2W recognized by Asia Book of Records for conquering 70 hairpin bends of Kollī Hills, the scooter addresses Nepal's dynamic terrain, climatic conditions, and challenging driving environments.

Product Features and Capabilities

Engineered for performance, durability, reliability and comfort, the Ampere Nexus offers practical mobility solutions specifically designed for Nepal's challenging conditions. The scooter handles steep gradients and inclines, uneven roads, high-altitude temperature variations, and urban traffic with confidence.

The vehicle combines advanced torque delivery with stable ride setup and LFP battery technology, enabling confident uphill climbs, smooth acceleration in stop-start traffic, and improved control across varied terrains.

Advanced Technology Integration

The Ampere Nexus features comprehensive technological capabilities:

• 7-inch TFT touchscreen with Nex.io system
• Full screen map mirroring for seamless riding connectivity and navigation
• Real-time assistance including turn-by-turn directions, distance to next turn, and ETA
• Call connectivity and music control for uninterrupted riding experience
• Ampere Connect Companion app enabling smart pairing, tracking saving, and battery health monitoring

Management Perspective

Mr. Vikas Singh, MD and Chief Financial Officer, Greaves Electric Mobility, commented on the development: "Nepal presents a unique mobility landscape with steep-rugged terrains, and intensive daily usage. Higher altitudes and a growing EV infrastructure in the country naturally draws demand for safer BMS, stronger built quality, and products that outlast. For Nepal, premium scooters are not just luxury – but scooters that are engineered specifically for durability, comfort, and range confidence. The Ampere Nexus has been engineered to address these realities. With this, GEM also looks forward to support Nepal's push for clean mobility."

Future Expansion Plans

GEM plans to steadily expand its presence across other markets in Nepal, reinforcing its long-term commitment to the country's electric mobility journey. The company aims to bring terrain-ready, sustainable urban mobility solutions that combine proven engineering with deep understanding of local riding needs.

Company Background

Greaves Electric Mobility Limited operates as the electric mobility business of Greaves Cotton Limited, with over 17 years of experience in designing and manufacturing electric vehicles. The company serves both electric 2-wheeler and 3-wheeler segments through three manufacturing plants located in Hyderabad, Noida, and Ranipet, supported by 400 dealer touchpoints across India. GEML holds 8 India Book of Records titles, reflecting its focus on technology and design-led innovative and durable mobility solutions.