Bajaj Electricals500031Leadership appointment or

Shekhar Bajaj to move to Non-Executive Director and Chairman Emeritus; Sachdeva gets fresh five-year MD & CEO term

Shekhar Bajaj to step down as Executive Chairman from Dec 31, 2026, stay on as Non-Executive Director and get the Chairman Emeritus title.

By ScoutQuest · Wed 28 Oct 2026, 2:41 PM IST · 3 min read

₹112,332 lakhRevenue from operations, quarter ended Sep 30, (Rs. in lakhs

Total expenses for the quarter ended Sep 30, (Rs. in lakhs₹110,219 lakh

Net profit for the quarter ended Sep 30, (Rs. in lakhs₹2,530 lakh

Revenue from operations, quarter ended Sep 30, (Rs. in lakhs ₹112,332 lakh: Total expenses for the quarter ended Sep 30, (Rs. in lakhs ₹110,219 lakh, Net profit for the quarter ended Sep 30, (Rs. in lakhs ₹2,530 lakh.

Executive Chairman steps down effective: close of December 31, 2026
MD & CEO fresh term: April 1, 2027 to March 31, 2032
Non-Executive Chairman effective: January 1, 2027

Bajaj Electricals' board met on Wednesday, October 28, 2026 and approved a set of leadership changes, along with the unaudited standalone results for the quarter and half year ended September 30, 2026.

Changes at the top

Mr. Shekhar Bajaj (DIN: 00089358) resigns from his executive position as Executive Chairman and Whole-time/Executive Director with effect from the close of business hours on December 31, 2026, without ceasing to be a Director of the company.
He continues as a Non-Executive Non-Independent Director from January 1, 2027, subject to approval of the members by way of a Special Resolution through Postal Ballot.
The board approved conferring on him the status and title of 'Chairman Emeritus' for a term of five years, with effect from January 1, 2027, subject to such approvals as may be necessary.
The payments, benefits, facilities and amenities proposed for him as Chairman Emeritus for the period from January 1, 2027 to December 31, 2031 need members' approval by Special Resolution through Postal Ballot. The Audit Committee has approved the transaction, and the update states it is not a material related party transaction.
The Articles of Association are proposed to be altered to create the position of Chairman Emeritus (Article 186A) and to amend Article 147 relating to contracts and arrangements with related parties.

Managing Director & CEO

The tenure of Mr. Sanjay Sachdeva (DIN: 11017868) under his existing appointment as Managing Director & Chief Executive Officer is curtailed/preponed so that it concludes on March 31, 2027, with certain revisions in his current remuneration.
He is appointed/re-appointed as Managing Director & Chief Executive Officer for a further/fresh period of five years from April 1, 2027 to March 31, 2032, with a revision in remuneration with effect from April 1, 2027. Both steps are subject to approval of the shareholders and other requisite approvals.

Other board changes

Mrs. Pooja Bajaj (DIN: 08254455) moves from a 'retiring' Executive Director to a 'non-retiring' Executive Director with effect from January 1, 2027, subject to shareholder approval. The update states there will be no change in her functioning, duties or remuneration because of this change.
Mr. Sudarshan Sampathkumar (DIN: 01875316), an Independent Director, is appointed Non-Executive Chairman of the board with effect from January 1, 2027 and up to the end of his current term as Independent Director, i.e. May 22, 2028.

Non-executive director pay

The board approved seeking members' approval by Special Resolution to pay remuneration to directors who are neither Managing Directors nor Whole-time Directors in excess of one per cent of the net profits of the company computed in accordance with Section 198 of the Companies Act, 2013, should that limit be exceeded in any financial year.

Q2 and H1 results (standalone, unaudited)

Revenue from operations: Rs. 112,332 lakhs for the quarter and Rs. 221,268 lakhs for the six months.
Net profit: Rs. 2,530 lakhs for the quarter and Rs. 7,325 lakhs for the six months.
Total expenses: Rs. 110,219 lakhs for the quarter.
Basic earnings per share (face value Rs. 2): Rs. 2.19 for the quarter and Rs. 5.70 for the six months.
Total comprehensive income: Rs. 2,552 lakhs for the quarter and Rs. 7,347 lakhs for the six months.

Other items approved

Amendments to the Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information, effective from the date of board approval.
Key Managerial Personnel authorised for determining materiality of events and making disclosures: Mr. Sanjay Sachdeva (MD & CEO), Ms. Ashween Anand (Chief Financial Officer) and Mr. Prashant Dalvi (Chief Compliance Officer & Company Secretary), with Mr. Dalvi named the single point of contact.

How to read this

The update describes the changes as succession planning and a considered evolution of the company's leadership and governance model. Mr. Shekhar Bajaj remains on the board as a Non-Executive Director with the Chairman Emeritus title, while the MD & CEO role gets a fresh five-year tenure. His continuation, the Chairman Emeritus role and its payments, the MD & CEO re-appointment, Mrs. Bajaj's change and the higher non-executive remuneration limit all require shareholder approval, so the final shape depends on those approvals.

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