Swaraj Engines announced that Mr. Devjit Sarkar will cease to hold office as Director and Whole Time Director effective September 1, 2026. The departure marks the completion of his tenure as approved by shareholders.

The company disclosed the change under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Sarkar was originally appointed for a period from September 1, 2024, to August 31, 2026. He served in the dual capacity of Director and Whole Time Director & Chief Executive Officer during this term.

Tenure Details

The cessation follows the expiry of the specific timeframe authorized by the company’s shareholders. There is no indication of resignation or removal; the exit is procedural based on the initial appointment terms.

The disclosure was issued on September 1, 2026, and signed by Rajesh K. Kapila, Company Secretary. The filing references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, for compliance purposes.

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.