Millworks Technologies Limited appointed Sudhir Bellare Rai as Vice President for Sheet Metal Fabrication and designated him as Senior Management Personnel. The company also appointed M/s. S. Janardhan & Associates, Chartered Accountants, as its internal auditor for the financial year 2026-27.

The appointments were approved by the Board of Directors during a meeting held on October 20, 2026. The session commenced at 11:30 am and concluded at 12:30 pm in Bengaluru. These actions were taken pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Leadership and audit updates

Sudhir Bellare Rai brings nearly 30 years of experience in fabrication, precision machining, and manufacturing operations. As Proprietor and Operations Head of Raitech, he managed a manufacturing facility with an annual turnover exceeding ₹6 crore and a workforce of approximately 60 personnel. His expertise spans production, procurement, quality management, and cost optimization, serving Tier-1 OEMs across earthmoving, rail, and hydro-engineering sectors.

M/s. S. Janardhan & Associates was established in 1991 under Sri S. Janardhan, a Chartered Accountant with professional experience since 1969. The firm provides statutory and internal audits, taxation, and related professional services to clients in textiles, aviation, manufacturing, hospitality, software, real estate, and construction.

Key appointment details

The disclosure notes that there are no relationships between directors relevant to these appointments. The company filed the outcome of the board meeting with the Bombay Stock Exchange on the same day.

Millworks Technologies Limited has established a Centre of Excellence for 3D printing in collaboration with Markforged Holding Corporation at its Bengaluru facility. The initiative aims to accelerate rapid prototyping for aerospace and defence customers.

The new centre houses seven machines, including industrial 3D printers, post-processing systems, and scanning equipment. It operates on Markforged’s Digital Forge platform, enabling on-demand production of carbon fibre composite and polymer components. This infrastructure is designed to shorten development cycles and improve responsiveness to customer requirements for new programmes.

Centre capabilities and equipment

The facility features a comprehensive suite of equipment supporting end-to-end workflows from design to inspection. Key hardware includes the Markforged FX10 industrial composite printer, the Markforged Mark Two (Gen 2) continuous fibre printer, and Formlabs Form 4L and Form 4 resin printers with full post-processing packages. Additionally, the centre utilises a MetaForm 700 FDM large-format printer and a 3DeVOK MT 3D scanner for reverse engineering and dimensional inspection.

Key capabilities include:

• Composite materials: Continuous Carbon Fibre, Kevlar, Fiberglass, and High-Temperature Fiberglass
• Resin printing: High-resolution and large-format parts using Formlabs technology
• Applications: Functional prototypes, development parts, fixtures, and tooling for aerospace and defence programmes

Strategic implications for growth

Sridhar Acharya, Managing Director of Millworks Technologies, stated that the centre strengthens the company's role as an engineering partner from the earliest stage of a programme. He noted that customers increasingly expect development parts within short timelines, a demand the new facility addresses through faster production than conventional routes allow.

The company highlighted that aerospace and defence programmes typically run for many years. Consequently, each qualification achieved through this capability can support long-term, recurring business for its precision machining operations. This aligns with the company’s focus on disciplined growth and sustainable value creation.

Financial context

Millworks Technologies, founded in 2021 and listed on the BSE SME platform in July 2026, reported strong financial performance for FY26. The company operates under Build-to-Print and Build-to-Spec models, serving OEMs across railways, aerospace, defence, and semiconductor sectors.

What the numbers show

The establishment of the Centre of Excellence coincides with a fiscal year where exports contributed 27.47% to total income. Given that the new facility specifically targets aerospace and defence sectors—industries known for long product lifecycles and high entry barriers—this investment appears strategically aligned with deepening relationships in high-value export markets rather than merely expanding domestic capacity. The move supports the company's stated goal of securing recurring business through early-stage programme involvement.