Siemens Energy India Limited announced significant changes in its senior management structure following a board meeting held on March 27, 2026. The meeting, which commenced at 12.31 p.m. (IST) and concluded at 12.37 p.m. (IST), approved multiple personnel transitions across key business units under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Board Meeting Details

The company formally notified BSE Limited and National Stock Exchange of India Limited about the management changes through an official communication. The notification was signed by Company Secretary Vishal Tembe and submitted in compliance with SEBI Listing Regulations.

Leadership Transitions in Competence Hub

The company will witness a leadership change in its Competence Hub operations as Mr. Vaibhav Agwan steps down from his position as Execution Unit Head (Competence Hub) effective close of business hours on March 31, 2026. According to his resignation letter dated January 13, 2026, Agwan's departure is to pursue opportunities within the Siemens Energy AG group, maintaining his association with the broader Siemens ecosystem.

Mr. Jaydeep Naha will assume the responsibility of Execution Unit Head (Competence Hub) from April 1, 2026, in addition to his current role as Business Segment Head - Digital and Innovation. Naha brings over 25 years of experience in Digital Products & Solutions, Engineering, Project Management, Manufacturing Operations, Supply Chain and Services across the energy sector. He has been associated with the Company and Siemens group since 1999, holding various senior roles across Engineering and R&D functions in India and abroad.

Grid Technologies Leadership Changes

The Grid Technologies division will experience significant leadership transitions. Mr. Samit Sachdeva will cease to be Execution Unit Head (Grid Technologies - Transformer) effective close of business hours on March 31, 2026, to pursue opportunities within the Siemens group.

Mr. Ganesh Nadgouda, currently serving as General Manager - Plant Operations (Grid Technologies - Transformer), will additionally act as interim Execution Unit Head (Grid Technologies - Transformer) from April 1, 2026. Nadgouda brings over 30 years of experience across Plant Operations, Supply Chain and Business Unit Management in the power and energy sector, having been associated with the Company and Siemens group since 2018.

Finance Leadership Restructuring

The finance function will see a leadership change as Mr. Aditya Mittal steps down as Execution Unit Finance Head (Grid Technologies - Grid Solutions) effective close of business hours on April 10, 2026. His resignation letter dated January 9, 2026, indicates his departure to pursue opportunities outside the Company.

Mr. Mrinal Ghosh, who currently serves as Execution Unit Finance Head (Steam Turbines & Generators) and is already a Senior Management Personnel of the Company, will additionally act as interim Execution Unit Finance Head (Grid Technologies - Grid Solutions) from April 11, 2026. Ghosh is a seasoned finance leader with over 25 years of experience across Finance Business, Controlling, Audit and Consulting in the energy and industrial sectors.

Executive Qualifications and Experience

The management transitions involve highly qualified professionals with substantial industry experience. Mr. Jaydeep Naha holds a B.E. (Hons) in Mechanical Engineering from Birla Institute of Technology and currently leads digital teams while driving the Digital Community for Execution Units in the India region. Mr. Ganesh Nadgouda holds a Diploma in Management Studies from University of Mumbai and a B.E. in Production Engineering from VJTI, Mumbai. Mr. Mrinal Ghosh is a Chartered Accountant (India) with an Executive MBA from FAU Erlangen-Nuremberg and is a Certified Public Accountant (Tennessee).

These management changes reflect the company's strategic approach to leadership development and succession planning, ensuring continuity in operations while enabling career progression within the broader Siemens Energy ecosystem.

Siemens Energy India Limited has delivered robust financial performance for Q1FY26, reporting significant growth across key metrics while announcing a major capacity expansion investment. The company's Board of Directors approved the unaudited financial results for the quarter ended December 31, 2025, during their meeting held on February 13, 2026.

Financial Performance Highlights

The company demonstrated strong operational performance with substantial year-over-year improvements across all major financial parameters:

The profit from operations margin for Q1FY26 stood at 22.4%, compared to 20.7% in the corresponding quarter of the previous year. Excluding forex and commodity gains, the operational margin was 18.8%, demonstrating improved underlying business performance.

Segment-wise Performance

Both business segments contributed to the strong quarterly performance:

Major Capacity Expansion Investment

The Board approved a significant investment towards expanding the company's manufacturing capabilities:

This expansion aligns with the Government of India's Make in India strategy and addresses the growing demand for large power transformers driven by energy transition and electrification trends.

Exceptional Items Impact

The company's profit after tax was impacted by a one-time cost of ₹52 crore due to the implementation of New Labour Codes announced by the Government on November 21, 2025. This regulatory change resulted in incremental provisions for gratuity and compensated absences totaling ₹519 million, which was classified as an exceptional item.

Management Commentary

Commenting on the results, Guilherme Mendonca, Managing Director and Chief Executive Officer, stated: "Our Q1FY26 results reflect a continuous strong energy market, offering SEIL attractive growth opportunities across its entire generation and transmission portfolio. Excellent backlog execution led to an outstanding performance in the quarter. With the large power transformer capacity expansion, SEIL is fully committed with the Government of India's Make in India strategy, strengthening the local supply chain for a Viksit Bharat."