Indian Railway Catering and Tourism Corporation (IRCTC) announced a major leadership change on June 15, 2026, with Sudhir Kumar, GM (Finance), ceasing to be CFO, KMP and senior management personnel. According to the company's regulatory filing, Kumar has relinquished the additional charge of Director (Finance) following the appointment of a new incumbent to the post, in line with directions issued by the Railway Board. The company stated that Kumar has been relieved and repatriated on June 15, 2026, pursuant to a Railway Board order dated June 3, 2026. In a parallel development, the IRCTC Board has approved the appointment of Shri Rajneesh Narain as Additional Director (Finance), effective June 15, 2026. Narain will now assume responsibility for overseeing the company's financial operations at the board level.
Rajneesh Narain brings over 30 years of experience in finance and public sector enterprises to his new role as Director (Finance). According to IRCTC's announcement, he previously served in senior roles in Coal India subsidiaries and has strong expertise in accounting, taxation, budgeting, and financial management. The company has confirmed that he is not debarred from holding directorship and is not related to any existing director or key managerial personnel. Narain holds 100 equity shares in IRCTC and will provide continuity in public sector financial management expertise while ensuring alignment with Railway Board directives and SEBI compliance norms.
The leadership change comes amid mixed financial results for IRCTC. As reported by Business Standard, the company's consolidated net profit declined 8.88% year-on-year to ₹326.36 crore in Q4 FY26 from ₹358.22 crore in Q4 FY25. However, revenue from operations rose 15.07% YoY to ₹1,459.71 crore in Q4 FY26 from Q4 FY25. Despite the profit decline, the company showed strong operational growth with revenue expansion outpacing the profit decrease.
Following these changes, IRCTC's updated board includes Director (Finance): Shri Rajneesh Narain, Director (Tourism & Marketing), and Two Government Nominee Directors. This structure ensures continuity in governance while strengthening financial leadership at the board level. The appointment is expected to bring stronger financial oversight at board level, improved governance and strategic financial planning, and alignment with Railway Board directives and SEBI compliance norms. The transition reflects IRCTC's ongoing effort to maintain structured leadership rotation within its senior management framework.
