Raymond appoints former BEL chief Bhanu Prakash Srivastava as CEO for defence unit

Raymond shares rise 4% after former BEL chief joins defence business

Raymond shares rose nearly 4% on Monday after the company appointed former Bharat Electronics chief Bhanu Prakash Srivastava as the chief executive officer (CEO) of its defence business. The stock gained nearly 4% to hit an intraday high of Rs 632 on the NSE. It later gave up some gains and was last trading at Rs 622.5, up 2.4%.Raymond said in an exchange filing that Srivastava has been appointed CEO-Defence as the company looks to expand in the defence and aerospace sector.Srivastava has nearly 40 years of experience at Bharat Electronics (BEL), where he worked across defence technologies, programme execution and organisation building. He also served as chairman and managing director of BEL.At Raymond, he will lead the company’s defence business. He will be responsible for its strategy, operations and growth plans.During his tenure as chairman and managing director of BEL, Srivastava oversaw the company's market value increase from about Rs 51,000 crore to Rs 1.5 lakh crore. BEL also secured more than Rs 55,000 crore in new orders and launched over 100 products during this period.He has worked on programmes in radar systems, naval and sonar systems, missiles, electronic warfare and tactical communications. He also supported indigenous defence capabilities and helped set up AI incubation centres.Raymond said Srivastava will focus on building its long-term defence strategy. The company plans to expand its engineering capabilities into defence electronics, software, systems integration and related aerospace and automotive technologies.Raymond Chairman and Managing Director Gautam Singhania said India’s defence sector is entering a new phase of growth and self-reliance. He said this creates opportunities for companies with strong engineering capabilities.Singhania said Srivastava’s experience in handling complex defence programmes and building large organisations makes him the right person to lead Raymond’s defence business.Srivastava said he is joining Raymond at an important point in its growth journey. He said India’s focus on local defence manufacturing opens up strong opportunities for the company.He said Raymond will look to build technology-led solutions, form strategic partnerships and create a defence business that can compete globally.

3 hours ago

Raymond appoints new chief for defence unit

Raymond Limited on Monday announced the appointment of Bhanu Prakash Srivastava as Chief Executive Officer – Defence as the company aims to build a future-ready, technology-led defence platform.He is a Mechanical Engineering graduate from the Indian Institute of Technology (BHU), Varanasi, the company said in a regulatory filing, adding that the executive comes with 39 years to experience in advancing India's defence manufacturing and technology capabilities across leadership roles in operations, R&D, marketing, naval systems and strategic programme execution.Srivastava has around four decades of experience at Bharat Electronics Limited (BEL) across leadership in defence technologies, large-scale programme execution and institution building.Also read: Adani Defence to invest Rs 2,500 crore in missile manufacturing complex in Madhya PradeshAt Raymond, he will lead the defence business, defining its strategic vision, operational roadmap and growth agenda as the company is making 'strategic investments' to develop advanced capabilities in India."Srivastava will work to shape and execute the company's long-term defence strategy. He will work towards the evolution of the company's engineering capabilities from precision manufacturing into higher-value defence electronics, software, systems integration and adjacent aerospace and automotive technologies."India's defence sector is entering a defining phase of growth, innovation and self-reliance, creating significant opportunities for companies with strong engineering capabilities and long-term commitment. Bhanu Prakash's exceptional leadership, deep understanding of complex defence programmes and proven track record of building high-performance organisations make him the ideal leader to spearhead Raymond's defence journey," said Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited.Raymond aims to establish itself as a trusted private-sector partner in India's defence ecosystem.Stating on his new role, Srivastava said, "The Company has built a remarkable legacy of manufacturing excellence, quality and innovation, creating a strong foundation for entering the defence sector. The opportunities emerging from India's focus on indigenous defence capabilities are unprecedented, and I am excited to work with the leadership team to build differentiated technology-led solutions, develop strategic partnerships and create a globally competitive defence business."As Chairman & Managing Director of BEL, Srivastava tripled market capitalisation from Rs 51,000 crore to Rs 1.5 lakh crore, secured Rs 55,000+ crore in new orders, and launched 100+ products while strengthening R&D. He led mission-critical programmes across radar, naval and sonar systems, missiles, electronic warfare and tactical communications, championed indigenisation, and set up AI incubation centres to advance India's defence ecosystem.

6 hours ago

Raymond Appoints Former Bharat Electronics CMD Bhanu Prakash Srivastava As CEO - Defence

At Raymond, Prakash will define the strategic vision, operational roadmap and growth agenda for the defence business.

6 hours ago