Raymond appoints Bhanu Prakash Srivastava as CEO to lead defence & aerospace segment

Raymond's share price jumped over 3% on Monday morning, after the company shared important corporate development regarding its defence and aerospace subsidiary. The Raymond share price made an intraday high of ₹632 apiece on the NSE, before trading 2% higher at ₹620 apiece at 1:30 pm on Monday.

Raymond Ltd announced the appointment of Bhanu Prakash Srivastava as Chief Executive Officer – Defence, marking a significant milestone in the company's strategic expansion into India's rapidly evolving defence and aerospace ecosystem.

Bhanu Prakash Srivastava holds four decades of experience working with India’s leading defence PSU, Bharat Electronics Ltd and holds a monumental contribution to building BEL’s order book and leading the company at the forefront.

In his new role, he will lead Raymond's defence business, defining its strategic vision, operational roadmap and growth agenda as the company builds a future-ready, technology-led defence platform. He has previously 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.

Commenting on the appointment, Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited, 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. Bhanu Prakash's exceptional leadership, deep understanding of complex defence programmes and a proven track record of building high-performance organisations make him the ideal leader to spearhead Raymond's defence journey.

About Raymond’s Defence & Aerospace subsidiary

Raymond entered into the defence & aerospace segment after it acquired a 59.25% stake in Maini Precision Products Ltd (MPPL) in November 2023. Post-acquisition, the company got access to the global network of defence and aerospace OEMs. MPPL was specialised in manufacturing complex, tight-tolerance, engine-critical components that operate in defence environments.

Later, Raymond Ltd combined its engineering and assets, mainly JK Files and Ring Plus, with MPPL to create an engineering-focused subsidiary, catering to areas like electric vehicles, aerospace and defence segments. The Raymond group now operates its defence and aerospace division through JK Maini Global Aerospace Ltd, a specialised subsidiary focusing on mission-critical aviation and military components.

The subsidiary has facilities in the Andhra Pradesh Defence hub with a planned capital investment of ₹1000 crore.