Swaraj Engines has appointed Sanjay Kshirsagar as Additional Director and Whole-Time Director designated as Chief Executive Officer, effective September 1, 2026.

The Board of Directors approved the appointment at its meeting on August 31, 2026, based on the recommendation of the Nomination and Remuneration Committee. The appointment is subject to shareholder approval.

Appointment details

Kshirsagar will serve a term of three years, from September 1, 2026, to August 31, 2029. He will also be designated as Key Managerial Personnel under the Companies Act, 2013.

Leadership profile

Kshirsagar, aged 57, is a Mechanical Engineer and Post Graduate in Financial Management with over 34 years of experience in projects and manufacturing operations. His career spans multiple prominent industrial organisations, with his most significant tenure at Mahindra & Mahindra (M&M).

At M&M, he spent 25 years managing engine plants and manufacturing operations. He oversaw engine plants at Chakan and Igatpuri, driving volume ramp-ups by approximately 3X over five years for passenger and commercial vehicles including Scorpio, Thar, XUV700, and Bolero Pickup. He also supported MTBD, Powerol, and Defence needs.

Operational expertise

Kshirsagar played a key role in the merger of Mahindra Heavy Engines Ltd with M&M in 2025. He has been instrumental in driving manufacturing digitization and transition towards Manufacturing AI. His expertise covers processes across machine shops and assembly lines for engines, tractors, and two-wheelers.

He contributed to the Deming and JQM Award journey in the Farm Division, implemented TPM across Automotive and Farm Divisions, and drove the "Engine No Testing" approach in the Automotive Division. This initiative resulted in lower carbon emissions, reduced capex, and improved lead time and productivity.

Prior to joining M&M, Kshirsagar gained experience at Greaves, Kirloskar, and Borosil. He is not inter-se related to any director of Swaraj Engines and is not debarred from holding office by SEBI or any other authority.

Swaraj Engines Limited announced that all five resolutions proposed at its 40th Annual General Meeting (AGM) held on July 20, 2026, were approved with a requisite majority. The meeting, conducted via video conferencing, saw the adoption of audited financial statements for the financial year ended March 31, 2026, and the declaration of a dividend on equity shares. Shareholders also approved the re-appointment of two directors and the ratification of remuneration for cost auditors.

Remote e-voting was facilitated through National Securities Depository Limited from July 16 to July 19, 2026, with voting rights reckoned as on July 13, 2026. Ajay K. Arora, Practicing Company Secretary, served as the Scrutinizer for the e-voting process. The detailed voting results and the Scrutinizer's Consolidated Report dated July 21, 2026, have been submitted to the exchanges.

Voting Summary

The resolutions received strong support from shareholders, with the promoter group voting entirely in favour of all proposals. Public institutional and non-institutional shareholders also supported the resolutions, with minor opposition recorded against the re-appointment of directors.

Business Transacted

The AGM transacted five items of business, comprising four ordinary resolutions and one special resolution. The ordinary business included the adoption of financial statements, dividend declaration, and the re-appointment of Mr. Puneet Renjhen and Mr. Devjit Sarkar as Directors. The special business involved the ratification of remuneration payable to M/s SDM & Associates, Cost Accountants, for the financial year ending March 31, 2027.