Rane (Madras) Limited has announced significant changes in its Senior Management Personnel structure, following board approval during a meeting held on March 20, 2026. The organizational restructuring, set to take effect from June 1, 2026, involves two key executives transitioning into new executive director roles within the company's various divisions.

Board Meeting Details

The Board of Directors meeting commenced at 10:00 hrs IST and concluded at 15:27 hrs IST on March 20, 2026. The board, acting on recommendations from the Nomination and Remuneration Committee, approved the senior management changes in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Senior Management Changes

The restructuring involves two senior executives taking on expanded responsibilities across the company's key operational divisions:

Mrs. Gowri Kailasam's Transition

Mrs. Gowri Kailasam, who currently leads the Steering and Linkage Division and Light Metal Castings Division as CEO, will transition to Executive Director with expanded responsibilities. Her new role encompasses leading the Engine Components Division and Aftermarket Products Division, while additionally overseeing the Steering and Gears Division of ZF Rane Automotive India Private Limited, a joint venture company within the Rane Group.

With over 30 years of automotive industry experience, Mrs. Kailasam holds a B.Tech and Master's degree in Chemical Engineering, along with an MBA. She joined RML SLD in August 2003 as General Manager – Total Quality Management and was promoted to CEO – SLD and LMCD in November 2023 after progressing through various leadership roles.

Mr. Aditya Ganesh's New Role

Mr. Aditya Ganesh will transition from his current position as President of Light Metal Castings Division and Strategy Head of Steering and Linkage Division to Executive Director, where he will lead both the Steering and Linkage Division and Light Metal Castings Division.

A Mechanical Engineering graduate from PSG College of Technology, Mr. Ganesh holds a Master's degree in Industrial Engineering from The Ohio State University, USA, and an MBA from INSEAD (France and Singapore). He joined the company in September 2017 as General Manager – Corporate Planning for SLD and LMCD, and was promoted to his current role in July 2023.

Reporting Structure

Both executives will continue as Senior Management Personnel and will report directly to the Chairman and Managing Director of the Company. Neither executive holds director positions within the company, maintaining their status as senior management personnel under the current organizational structure.

Regulatory Compliance

The company has filed the necessary disclosures with BSE Limited (Scrip Code: 532661) and National Stock Exchange of India Ltd (Symbol: RML) in compliance with SEBI LODR regulations. The changes align with the company's strategic focus on strengthening leadership across its key operational divisions while maintaining continuity in senior management expertise.

Rane (Madras) Limited has received a revisory order from the Principal Commissioner of Income Tax, Chennai, providing partial relief in ongoing tax proceedings. The company disclosed this development under Regulation 30 of SEBI LODR regulations on February 28, 2026.

Revisory Order Details

The Principal Commissioner of Income Tax issued a revisory order under Section 263 of the Income Tax Act, 1961, dated February 27, 2026. This order partly sets aside the previous assessment order with specific directions to the Assessing Officer for fresh proceedings.

Key Directions and Relief Granted

The revisory order addresses two main areas of dispute with favorable directions for the company:

Trademark Fees Disallowance (₹5.12 crores): The Principal Commissioner has directed the Assessing Officer to consider the position taken in other group entities, indicating a more favorable review approach.

Defined Benefit Plan Disallowance (₹2.49 crores): The Principal Commissioner has accepted the company's submission and directed the Assessing Officer to verify and allow this issue, providing significant relief.

Financial Impact Reduction

The revisory order has substantially reduced the company's expected financial exposure. The revised expected financial impact stands at ₹2.66 crores, excluding applicable interest and penalty. This represents a significant improvement from the previous assessment proceedings.

Company's Response and Next Steps

Rane (Madras) Limited is awaiting the fresh order from the Assessing Officer following the Principal Commissioner's directions. The company has committed to provide necessary clarification and justification for the allowability of trademark fees expenditure and defined benefit plan costs.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of SEBI LODR and the SEBI Master Circular dated January 30, 2026. The company has declared that all information provided is true, correct, and complete to the best of its knowledge and belief. This update follows the company's previous disclosure dated January 10, 2026, regarding the initial show cause notice.