ITI Limited has received approval from the Government of India for extending the additional charge arrangement for its Director (Finance) position. The extension ensures continued leadership stability in the company's financial operations during the ongoing transition period.

Government Approval for Extension

The Ministry of Communications, Government of India issued Order No. E-14-1/2024-PSA dated March 20, 2026, confirming the Appointments Committee of the Cabinet's approval for the extension. This decision builds upon the previous arrangement that was established in October 2025.

Leadership Arrangement Details

Shri Ramana Babu C V, who currently serves as Director (Marketing) at ITI Limited, will continue to hold the additional charge of Director (Finance). The arrangement was initially established through a government order dated October 14, 2025, for a six-month period beginning October 15, 2025.

The extended tenure will continue until one of the following conditions is met:

• A regular incumbent assumes charge of the Director (Finance) position
• Further orders are issued by the government
• The six-month extension period concludes

Regulatory Compliance

ITI Limited has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company secretary Y. Sathyan communicated this development to both the Bombay Stock Exchange and National Stock Exchange of India Limited.

Corporate Background

As a Government of India undertaking in the telecommunications sector, ITI Limited operates under the oversight of the Ministry of Communications. The company maintains its registered and corporate office at ITI Bhavan, Dooravaninagar, Bengaluru. The systematic approach to leadership transitions demonstrates the government's commitment to maintaining operational continuity in key public sector enterprises.

ITI has provided official clarification to BSE regarding its solar photovoltaic module manufacturing tender at the Naini plant in Prayagraj, following surveillance queries about recent market activity. The company confirmed that the project remains in the Request for Proposal (RFP) stage and disclosed that a similar tender attempt in March 2025 was unsuccessful due to high bid rates.

BSE Surveillance Response

In response to BSE's inquiry dated March 16, 2026, regarding news reports about the solar manufacturing initiative, ITI clarified the current status of the project. The company emphasized that the tender process is in its preliminary stages and does not constitute price-sensitive information requiring disclosure under SEBI regulations.

Tender Process Update

The company has initiated steps toward establishing solar module manufacturing lines with three capacity configurations: 100 MW, 250 MW, or 500 MW. This flexible approach allows ITI to evaluate various proposals based on technical capabilities and commercial viability. The initiative represents the company's strategic move to strengthen its presence in the renewable energy sector.

Regulatory Compliance Statement

ITI confirmed that no material events are pending disclosure to stock exchanges that could impact the company's share price or trading volume. The company reiterated its commitment to complying with Regulation 30 of SEBI (LODR) Regulations, 2015, ensuring timely disclosure of all price-sensitive information.

Strategic Implications

The clarification reveals that while ITI remains committed to entering the solar PV manufacturing sector, the project timeline may be extended due to commercial considerations. The unsuccessful March 2025 tender highlights the challenges in securing cost-effective manufacturing partnerships in the competitive solar equipment market. The company's measured approach reflects careful evaluation of market conditions and vendor capabilities before finalizing the manufacturing setup.