Sigma Advanced Systems Limited has announced a comprehensive board reconstitution to support its next phase of global growth in the aerospace and defence sector. The company has inducted three new directors with specialized experience across defence procurement, aerospace manufacturing, and international trade, effective March 16, 2026.

Strategic Board Expansion

The board reconstitution brings together experienced leaders from the defence ecosystem, aerospace manufacturing, and international trade to strengthen governance and strategic oversight. According to the company's press note, this refreshed board structure is designed to combine operational experience with independent oversight while supporting expanding international ambitions.

Distinguished Military Leadership

Lt. Gen. B.S. Raju (Retd.), PVSM, UYSM, AVSM, YSM, brings distinguished military experience as a former Vice Chief of the Army Staff who served from May 2022 to February 2023. He previously served as the General Officer Commanding-in-Chief South Western Command and as the 44th Vice Chief of the Army Staff. His role as Director General Military Operations (DGMO) provides deep experience in the defence ecosystem.

International Trade Expertise

Ambassador Nagendra Prasad contributes over three decades of diplomatic experience from the Indian Foreign Service. He retired as Ambassador of India to Kazakhstan on June 30, 2025, and brings expertise in international trade, export controls, ITAR/EAR compliance, and global regulatory frameworks. His diplomatic career includes serving as Ambassador to Turkmenistan, Consul General in San Francisco, and postings in Switzerland, Bhutan, Iran, and the UK.

Educational Background:

• PhD in Horticulture from Indian Agricultural Research Institute, New Delhi
• M.Sc with ICAR Senior fellowship with University Gold Medals
• B.Sc in Horticulture with University Gold Medal

Key Administrative Roles:

• Regional Passport Officer for Karnataka in Bengaluru (1998-2000)
• Project Director of e-Governance 'Passport Seva Project' (2008-2011)
• Head of Gulf Division, coordinating Prime Ministerial visits (2018-2020)
• Led Covid pandemic repatriation through 'Vande Bharat' mission

Aerospace Manufacturing Leadership

Kartheek Raju brings deep expertise in large-scale aerospace manufacturing and global supply chains. As a second-generation entrepreneur with over 15 years of international consulting and investment experience, he has led the iLabs Family Office for the past decade. His professional background includes serving as Business Analyst at McKinsey & Company's Dubai office and driving diversification across life sciences, power, and defense sectors.

Professional Qualifications:

• Bachelor of Business Administration from Claremont McKenna College
• Concentration in economics, finance, and accounting
• Expertise in corporate strategy, capital allocation, and team building

Enhanced Governance Framework

The company is strengthening key board committees, including Audit, Risk, Nomination, and Remuneration. Decision-making is expected to become more structured and committee-driven, with greater emphasis on compliance, risk oversight, and financial discipline. The board will play a larger role in reviewing export controls, cybersecurity safeguards, internal audits, and quality systems.

Strategic Vision for Global Expansion

Commenting on the development, Sunil Kalidindi, CEO of Sigma Advanced Systems Limited, emphasized the strategic importance of this transition. "The reconstitution of our board reflects Sigma's transition into its next phase of growth. By bringing in deeper aerospace and defence as well as international expertise, we are strengthening our governance foundation while positioning the company for sustained expansion," he stated.

The timing reflects the company's transition into a new phase marked by expansion into international markets, growing export programs, and deeper participation in global aerospace supply chains. Over the next three to five years, the board is expected to serve as both a governance anchor and strategic guide, helping accelerate growth initiatives and enhance institutional credibility in the global aerospace and defence market.

Sigma Advanced Systems Limited has successfully completed the divestment of its entire 36.52% equity stake in Switzerland-based Extrovis AG, generating $15 million (approximately ₹137.61 crores) as the company sharpens its focus on aerospace and defence operations. The transaction marks a significant milestone in the company's portfolio rationalization strategy.

Transaction Overview

The completed divestment represents Sigma's strategic exit from non-core pharmaceutical investments to concentrate resources on its core aerospace and defence business. The key transaction parameters are detailed below:

Strategic Portfolio Transformation

According to CEO Sunil Kalidindi, the Extrovis divestment is part of Sigma's deliberate strategy to become a pure-play aerospace and defence platform. The transaction provides enhanced financial flexibility to invest in manufacturing capabilities, pursue strategic acquisitions, and expand presence across global defence and aerospace supply chains.

The company has been actively building its international platform through strategic acquisitions. Sigma recently acquired Delhi-based AS Strategic, a defence and space-focused firm with established European operations through long-term joint ventures and exclusive service partnerships with leading global defence OEMs.

Recent Acquisitions and Expansion

Sigma's acquisition strategy includes two major transactions that strengthen its global positioning:

Order Book Growth

Alongside its acquisition strategy, Sigma has continued expanding its domestic order book. The company recently secured new orders worth approximately ₹100 crores from India's Ministry of Defence and associated Defence PSUs, demonstrating continued customer reliance for defence electronics and mission-critical systems.

The company indicated it will continue growth through organic expansion and targeted acquisitions, with multiple opportunities currently under evaluation. The Extrovis divestment proceeds will support this expansion strategy while maintaining focus on high-complexity, safety-critical components and systems across aerospace and defence sectors.