In terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that, in pursuance to Ministry of Defence letter No. 1/1(1)/2019/D(NS) dated 14 May 2025, the Government has entrusted the additional charge of the post of Director (Finance), GRSE, to Cmde Hari P R, IN (Retd.), Chairman & Managing Director of the Company for a period of 03 months w.e.f. 01 Jun 2025 to 31 Aug 2025, or till the appointment of a regular incumbent to the post, or until further orders, whichever is the earliest. Accordingly, Cmde Hari P R, IN (Retd.), Chairman & Managing Director of the Company will hold the Additional Charge of the post of Director (Finance) w.e.f. 01 Jun 2025.This is for your information and record.
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The Government of India, through the Ministry of Defence, has asked Cmde Hari P R (Retd.), the current Chairman & Managing Director of GRSE, to take on the additional charge of Director (Finance) for a three-month period from 1 June 2025 to 31 August 2025. This temporary arrangement is in place until a regular Director (Finance) is appointed or further orders are issued, whichever comes first. The move suggests the Director (Finance) post is currently vacant at the defence PSU. The decision is based on a Ministry of Defence letter dated 14 May 2025.
Short-term impact is likely neutral for shareholders. The interim arrangement avoids a leadership vacuum in finance, but a prolonged vacancy in the Director (Finance) role could delay strategic financial decisions. Investors should watch for the appointment of a permanent Director (Finance) within the three-month window.