Raymond Appoints Former BEL CMD Bhanu Prakash Srivastava as CEO – Defence

Raymond Ltd. announced the appointment of Bhanu Prakash Srivastava, former Chairman and Managing Director of Bharat Electronics Limited (BEL) as Chief Executive Officer of the Defence business. This step, effective July 6, 2026, is a major step in Raymond's strategic expansion into India's defence and aerospace sector.

Srivastava brings with him over 40 years of experience with BEL in operations, R&D, marketing, naval systems and strategic programme execution, with a leadership role. BEL’s market capitalization doubled from ₹51,000 crore to ₹1.5 lakh crore during his tenure as CMD from 2022 to 2024. He also secured new orders and launched over 100 products to enhance India’s indigenous defence capabilities. His leadership was critical to advance programmes in radars, sonars, naval communication systems, fire control systems, missiles and electronic warfare systems.

Raymond, known for its textiles and engineering skills, has now got into defence manufacturing. Srivastava will be responsible for developing and executing the strategic vision, operational roadmap and growth agenda for Raymond Defence. Aiming to move from precision manufacturing to advanced defence electronics, software, systems integration, aerospace and automotive technologies in the future. This is consistent with the government’s Atmanirbhar Bharat initiative which emphasizes self-reliance in defence production.

The news hit the stock market quite soon and Raymond shares rose more than 4 percent on the NSE. The stock hit a high of ₹632 on the day before and settled at ₹623.45, as investors were sure of the company’s defence dreams.

Raymond Chairman and Managing Director Gautam Hari Singhania said he is optimistic about the appointment, saying: “India’s defense sector is entering a defining phase of growth and innovation." He said Srivastava’s experience in leading and managing defence is why he is the best candidate for Raymond’s defence.

Srivastava himself described the opportunity as “defining,” in terms of the potential for indigenous defence capabilities in India. He said he would work to deliver a technology-driven solution and build partnerships with Raymond, to make it a trusted private-sector partner in the defence space.

The appointment of Bhanu Prakash Srivastava as CEO - Defence is a big step forward for Raymond Ltd. With his extensive experience and proven leadership at BEL, Srivastava will be able to lead Raymond to a new level of high-value defence technology and strengthen Raymond Ltd., positioning it as a serious player in the defence and aerospace industry.