McNally Bharat Engineering Company Limited has appointed Sarvesh Kumar Adukia as its Chief Executive Officer (CEO) and Key Managerial Personnel (KMP), effective immediately. The Board of Directors approved the appointment during a meeting held on July 27, 2026, following a recommendation from the Nomination and Remuneration Committee. This leadership change signals a strategic focus on strengthening governance and operational oversight within the engineering firm.

The appointment was formalized under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting commenced at 11:30 AM and concluded at 11:45 AM on July 27, 2026. The company disclosed the outcome to the National Stock Exchange of India Limited and BSE Limited, citing compliance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Appointment Details

Sarvesh Kumar Adukia, bearing DIN 10587259, assumes the role with immediate effect. The Board cited his extensive background in strategy, governance, and stakeholder management as key factors for the selection. Adukia is qualified as both a Chartered Accountant and a Company Secretary, holding a Bachelor's degree in commerce.

Professional Profile

Adukia brings more than 18 years of experience across multi-country groups. His expertise spans strategy, governance, and stakeholder management. He has led multidisciplinary teams across finance, operations, and compliance functions. Notably, he implemented a robust Management Information System (MIS) to strengthen executive decision-making processes.

His international experience includes advising the Boards of two European group entities located in Germany and Hungary. In these roles, he provided guidance on strategy, liquidity, and financial controls. This global exposure complements his domestic regulatory knowledge as a qualified Company Secretary and Chartered Accountant.

Strategic Implications

The appointment of a dual-qualified professional as CEO underscores McNally Bharat’s emphasis on rigorous financial controls and corporate governance. Adukia’s background in implementing MIS systems suggests a potential push towards enhanced data-driven decision-making within the organization. His experience in liquidity management and financial controls may also influence the company’s capital allocation strategies in the coming quarters.

The company has uploaded the notice on its website, www.mcnallybharat.com , for stakeholder reference. There are no disclosed relationships between Adukia and existing directors that would require further disclosure under the relevant regulations.

McNally Bharat Engineering Company Limited announced the resignation of its Chief Executive Officer, Rajendra Mohan Mathur, effective from the close of business hours on July 18, 2026. The executive stepped down due to personal reasons, marking a significant change in the company's leadership structure. Mathur also ceased to be Key Managerial Personnel under Section 203 of the Companies Act 2013 with effect from the cessation of his office.

The company disclosed the information in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation was formally communicated to the National Stock Exchange of India Limited and BSE Limited. McNally Bharat Engineering Company Limited confirmed that there were no other material reasons for the resignation beyond those stated in the letter.

McNally Bharat Engineering Company Limited stated that it is in the process of appointing a new Chief Executive Officer. The company will communicate the new appointment to the stock exchanges in due course. The notice has been uploaded on the company’s official website.