Raymond Ltd has appointed Bhanu Prakash Srivastava as Chief Executive Officer of its defence business, marking a significant strategic move in the company's expansion into India's defence and aerospace sector. According to the latest regulatory filing by Raymond to stock exchanges on Monday, July 6, the appointment comes as the textile major embarks on a new strategic growth phase with focused emphasis on the defence and aerospace ecosystem. The management appointment represents a significant leadership development for the company as it seeks to capitalize on opportunities in India's defence manufacturing sector.
Srivastava brings nearly four decades of experience in the defence sector, holding a Bachelor of Technology degree in Mechanical Engineering from IIT-BHU and a Master of Business Administration. During his tenure as Chairman and Managing Director at Bharat Electronics Ltd (BEL), Srivastava tripled the market capitalisation from around ₹51,000 crore to ₹1.5 lakh crore, while the company secured more than ₹55,000 crore worth of new orders and launched over 100 products. Srivastava joined BEL in August 1986 and held various positions including Director (Other Units) from April 20, 2022, and General Manager of the Advanced Defence Systems-Navy (ADSN) Strategic Business Unit before his elevation. He also led programmes in radar, naval and sonar systems, missiles, electronic warfare and tactical communications, while promoting indigenous capabilities and setting up AI incubation centres.
At Raymond, Srivastava will define the strategic vision, operational roadmap and growth agenda for the defence business, driving the evolution of Raymond's engineering capabilities from precision manufacturing into higher-value defence electronics, software, systems integration and adjacent aerospace and automotive technologies. According to the company statement, Raymond intends to build capabilities in defence electronics, software, systems integration and related aerospace and automotive technologies, with the company making strategic investments to develop advanced capabilities supporting India's defence preparedness and technological sovereignty. The appointment aligns with India's push for domestic defence manufacturing and technological self-reliance.
Raymond shares surged 3.58% to ₹628.90 after the company announced the appointment of former Bharat Electronics chief Bhanu Prakash Srivastava as the chief executive officer of its defence business. The stock gained nearly 4% to hit an intraday high of ₹628.90 on the NSE, though it later gave up some gains and was last trading at ₹622.5, up 2.4%. Raymond Chairman and Managing Director Gautam Hari Singhania said 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. Singhania highlighted that Srivastava's exceptional leadership, deep understanding of complex defence programmes and proven track record of building high-performance organizations make him the ideal leader to spearhead Raymond's defence journey.
