Shri Saleem Ahmad, Chairman and Managing Director (CMD) of Rail Vikas Nigam Ltd. (RVNL), has been entrusted with the additional charge of the CMD post at ircon international for a period of one year effective July 1, 2026. This leadership transition follows the superannuation of Shri Hari Mohan Gupta, the incumbent CMD, whose tenure concludes on June 30, 2026. The Ministry of Railways issued an order on June 23, 2026, detailing the arrangement, which will remain in effect until a regular incumbent assumes charge or until further orders are issued.

The Ministry of Railways, in its order no. 2023/E(O)II/40/15, confirmed that the post of CMD at Ircon International Ltd. will fall vacant on July 1, 2026. Consequently, the Competent Authority decided to assign the additional responsibility to Shri Saleem Ahmad. The appointment is contingent upon his assumption of charge on or after the specified date. The company is currently undertaking necessary actions to formalize the appointment in compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Appointment Details

The disclosure provides specific details regarding the tenure and conditions of the additional charge arrangement. The following table summarizes the key information:

Ircon International Ltd. stated that requisite disclosures will be submitted to the exchanges upon Shri Saleem Ahmad’s assumption of charge as CMD. The company secretary, Pratibha Aggarwal, signed the regulatory filing submitted to BSE Limited and National Stock Exchange of India Limited on June 23, 2026.

Ircon International Limited , in a joint venture with Badri Rai & Company, has secured a ₹763.10 crore order from Tripura State Electricity Corporation Limited (TSECL) for the Agartala Smart Grid project. The contract involves the design, engineering, supply, and commissioning of an underground power cable network and smart grid applications in the Agartala Municipality Area. The project is scheduled to be executed within 24 months from the date of the award.

The joint venture partners operate in a 26:74 ratio, with Badri Rai & Company acting as the lead partner. The total contract value, including GST, stands at ₹763,10,28,794, while Ircon's share is valued at ₹198,40,67,486.40. The order was awarded by a domestic entity and does not involve any related party transactions or interests from the promoter group.

Contract Details

The following table outlines the key parameters of the awarded contract:

The filing was made to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The event occurred on June 22, 2026.

Project Scope

The scope of work encompasses a comprehensive smart grid setup, including the establishment of an underground power cable network for High Tension (HT) and Low Tension (LT) lines. The project integrates advanced technologies such as Supervisory Control and Data Acquisition (SCADA), Advanced Distribution Management System (ADMS), and Outage Management System (OMS). Additionally, the contract covers GIS mapping, the laying of Optical Fiber Cable (OFC) for underground communication, and integration with third-party IT applications like billing and ERP systems. The establishment of a Smart Grid Control Centre, including main and backup facilities with Distribution Network Automation (DNA), is also part of the mandate.