Former BEL CMD Bhanu Prakash Srivastava Joins Raymond as CEO of Defence Division

Mumbai: In a major leadership development bridging India's defense public sector undertakings (PSUs) and the private manufacturing space, former Bharat Electronics Limited (BEL) Chairman and Managing Director (CMD) Bhanu Prakash Srivastava has been appointed as the Chief Executive Officer (CEO) of Raymond Limited’s Defence business.

The defense veteran, who recently led the Navratna PSU BEL through a historic phase of financial growth, will now spearhead Raymond's strategic expansion into advanced defense electronics, aerospace systems, and domestic military manufacturing. Raymond Limited officially filed the regulatory intimation regarding this appointment with the stock exchanges on July 6, 2026.

Bringing Decades of PSU Expertise to the Private Sector

Srivastava's career spans 39 years of dedicated service in advancing India’s indigenous defense capabilities. An alumnus of IIT (BHU) Varanasi, his extensive experience at defense PSU giant BEL covered everything from research and development and strategic program execution to naval systems and large-scale manufacturing operations.

During his tenure as CMD of BEL, the PSU witnessed massive value creation:

• Market capitalization expanded from approximately ₹51,000 crore to ₹1.5 lakh crore.

• Secured new defense orders worth over ₹55,000 crore.

• Successfully rolled out more than 100 indigenous products, including critical electronic warfare equipment, radars, sonars, and tactical communication networks.

• Established dedicated Artificial Intelligence (AI) incubation centers to advance local technological competencies.

Driving 'Atmanirbhar Bharat' via Private-Public Synergy

Under the government's strict Atmanirbhar Bharat (Self-Reliant India) guidelines, the defense ecosystem is increasingly relying on private-public partnerships to fast-track production. Raymond is positioning its newly realigned engineering business—bolstered by the acquisition of Maini Precision Products Limited (MPPL)—to become a core supplier of aerospace, EV, and defense components.

Gautam Hari Singhania, Chairman and Managing Director of Raymond Limited, stated that India's defense sector is entering a defining phase of self-reliance, noting that Srivastava’s deep understanding of complex defense programs makes him the ideal leader to establish Raymond as a trusted private-sector partner in the domestic supply chain.

Srivastava remarked that the current policy shift toward indigenization presents unprecedented opportunities to build globally competitive, technology-led solutions within the country. His primary mandate will involve scaling Raymond’s current precision manufacturing facilities into higher-value defense systems integration, electronics, and aerospace technologies.

Key Takeaways: Former BEL CMD Takes Charge of Raymond Defence

• The Transition: Former Bharat Electronics Limited (BEL) CMD Bhanu Prakash Srivastava transitions to the private sector as CEO – Defence at Raymond Limited.

• Track Record: At the defense PSU BEL, Srivastava oversaw a market cap growth up to ₹1.5 lakh crore and managed localized defense contracts worth over ₹55,000 crore.

• Strategic Role: He will direct Raymond's focus toward defense electronics, software systems integration, and aerospace equipment.

• Corporate Framework: The appointment aligns with Raymond Limited's focus on its engineering vertical following its lifestyle business demerger.

• Official Filing: The exchange update was submitted to both BSE and NSE on July 6, 2026, under SEBI Regulation 30.