CG Power & Industrial Solutions Limited has announced key changes in its senior management personnel, specifically within its railway business division. The company informed stock exchanges about the resignation of one senior executive and the appointment of his replacement.

Senior Management Transition

The company reported two significant personnel changes affecting its railway business operations. Mr. Chidambaram Balakrishnan, who served as Vice President - Railways, tendered his resignation effective from the close of business hours on January 1st, 2026. His departure was attributed to personal reasons, and he ceased to be part of the company's senior management personnel.

New Leadership Appointment

To fill the vacant position, CG Power appointed Mr. Dhananjay Bapat as Vice President Railway Business, effective January 2nd, 2026. The appointment ensures continuity in the company's railway business operations with minimal disruption.

Professional Background of New Executive

Mr. Dhananjay Bapat brings extensive experience to his new role at CG Power. His professional credentials include:

• Total Experience: 27 years in manufacturing, sales, marketing, product management, service, and P&L management
• Industry Exposure: Diverse industry sectors with comprehensive commercial functions leadership
• Certifications: HBX CORE and HBX Negotiation Mastery certified business leader
• Specialized Skills: Visual & Daily management, Funnel management, Value selling, and Building Personal Brand
• Educational Qualifications: B.E. in Mechanical Engineering and MMM & DMS in Marketing

Regulatory Compliance

The company fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Sanjay Kumar Chowdhary communicated these changes to both BSE Limited (Scrip Code: 500093) and National Stock Exchange of India Ltd. The notifications included all required details as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13th, 2023.

Strategic Implications

The seamless transition in railway business leadership demonstrates CG Power's commitment to maintaining operational continuity. With Mr. Bapat's extensive background in commercial functions and process-driven approach to enhance productivity and profitability, the company appears well-positioned to continue its railway business operations without disruption.

CG Power & Industrial Solutions , a prominent player in the power and industrial equipment sector, has announced significant developments in both its leadership structure and ongoing share capital expansion through multiple Employee Stock Option Plan allotments. The company recently appointed a new Chief Human Resources Officer and completed substantial equity share allotments under its Employee Stock Option Plan, including a third allotment in December.

Leadership Enhancement

The company appointed Ms. Vrushali Kedar Gadkari as Vice President & Chief Human Resources Officer (CHRO), effective September 30, 2025. This strategic move underscores CG Power's commitment to strengthening its human capital and supporting its growth ambitions.

Ms. Gadkari brings over 21 years of rich experience in human resources management across various sectors, including FMCG, BFSI, Realty, Healthcare, and Steel Manufacturing. Her expertise encompasses building high-performance businesses, managing business turnarounds, driving organizational transformation, and talent management across different business stages.

Three ESOP Allotments Complete December Expansion

CG Power has completed three separate equity share allotments under its Employee Stock Option Plan 2021 (ESOP 2021) during December 2025. The allotments occurred on December 11, December 23, and December 30, 2025, demonstrating sustained employee participation in the company's equity programs.

Updated Share Capital Structure

Following the latest allotment on December 30, 2025, CG Power's share capital structure reflects continued expansion through employee participation programs.

Strategic Organizational Development

Ms. Gadkari's appointment follows the resignation of Mr. Mehernosh Mehta, who served as Vice President - HR and stepped down on September 29, 2025, citing personal reasons. As the new CHRO, Ms. Gadkari will drive CG's talent agenda, shape leadership development, and cultivate a strong organizational culture to support the company's growth ambitions.

The newly allotted equity shares from all three December allotments rank pari-passu with existing equity shares in all respects, maintaining equal rights and privileges for all shareholders. These developments reflect CG Power's continued focus on strengthening both its human resources capabilities and employee engagement through equity participation programs.