Exide Industries Limited, India’s leading storage battery manufacturer, has announced significant leadership changes as part of its board-level strategy. At its Board Meeting held on August 30, 2025, the company approved the appointment of Mr. Rajeev Ramesh Chand Khandelwal (DIN: 08763979) and Mr. Pravin Ramchandra Saraf (DIN: 10137023) as Whole-time Directors, designated as Executive Directors, for a term of three years beginning September 1, 2025 until August 31, 2028, subject to shareholder approval.

Both executives will initially serve as Additional Directors with effect from September 1, 2025, until the conclusion of the next Annual General Meeting (AGM). Their continuation as Whole-time Directors will be finalized following approval by shareholders through a Postal Ballot, for which details will be communicated separately. The Board has fixed September 12, 2025 as the cut-off date for determining shareholder eligibility for e-voting on these resolutions.

The Board meeting commenced at 11:15 AM and concluded at 11:28 AM.

Profiles of the New Appointees

1. Mr. Rajeev Ramesh Chand Khandelwal
Mr. Khandelwal is a seasoned P&L leader with over 30 years of experience in building brands and driving business growth. He joined Exide on November 20, 2024 as Senior President & Head - Trade, later designated as Senior Management Personnel (SMP). Currently, he oversees marketing, sales, and service functions for Exide’s trade business, spanning mobility, reserve power, and last-mile connectivity.

Previously, Mr. Khandelwal served as President - Strategy and Business Expansion at the RPSG Group, where he shaped long-term strategies for their FMCG division. His career includes leadership roles at Procter & Gamble, Gillette, Reckitt, and the RPSG Group, with assignments in India, Sri Lanka, Singapore, and Africa.

Academically, Mr. Khandelwal holds a B.E. in Engineering from Visvesvaraya Regional College of Engineering, Nagpur, and an MBA in Marketing from SP Jain Institute of Management, Mumbai.

2. Mr. Pravin Ramchandra Saraf
Mr. Saraf brings with him over 35 years of experience in leading organizations across national and international markets. He has previously worked with Bajaj, Bosch, Endurance Technology, and Crompton Greaves Consumer Electricals Ltd.

He joined Exide on October 23, 2024, as Senior President & Head - Operations, and was subsequently designated as Senior Management Personnel (SMP). Currently, Mr. Saraf oversees manufacturing, supply chain management, operational excellence, projects, and R&D across the company. He plays a key role in strategic planning, execution, cost efficiency, and technology adoption, ensuring operational synergy with Exide’s growth objectives.

Mr. Saraf holds a postgraduate degree in Business Management and is an alumnus of the Government College of Engineering, Pune.

Governance and Compliance

In line with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Exide Industries has made the required disclosures to NSE, BSE, and CSE. The company confirmed that both appointees are not debarred from holding the office of director by any SEBI order or any other authority.

Importantly, both Mr. Khandelwal and Mr. Saraf are not related to any directors or key managerial personnel of the company, ensuring independence in governance.

Strategic Importance for Exide Industries

The appointments highlight Exide’s focus on strengthening leadership at the executive level. With Mr. Khandelwal driving sales, marketing, and customer engagement, and Mr. Saraf leading operations, supply chain, and manufacturing excellence, Exide aims to align its strategy towards sustainable growth, operational efficiency, and market expansion.

In a sector facing rapid technological shifts and increasing competition, the presence of experienced leaders with proven track records in business growth, operational transformation, and strategic execution will be crucial for Exide’s long-term vision.

Looking Ahead

Exide Industries’ decision to elevate seasoned professionals from within its leadership team to board positions underscores the company’s commitment to internal talent development and corporate governance. The three-year term of both appointees positions the company to strengthen its execution capabilities across business functions and maintain its leadership in the Indian battery and energy solutions market.

With shareholder approval pending through postal ballot, stakeholders will closely watch this development as Exide continues to reinforce its governance framework while accelerating growth in the energy sector.

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