CG Power and Industrial Solutions Limited is reshaping its leadership slate as it advances a slate of capacity expansion plans. In a move announced following the board meeting on 23 October 2026, the company designated two members of its senior management, appointing Rajat Shah as Vice President – Services and Rushikesh Kulkarni as Chief Growth & Innovation Officer – Industrial Business, effective 23 October 2026. The appointments come on the back of a broader push to infuse the organization with seasoned leadership aligned to growth, digital transformation, and engineering excellence while the board also cleared a substantial capex program to expand manufacturing capacity.
Rajat Shah brings a data-driven, service-led perspective to CG Power’s growing services and digital transformation agenda. With an MBA in Strategy and Finance from the University of Michigan, an MS in Mechanical Engineering from the University of Illinois, and a B.Tech from IIT Guwahati, Shah has over 26 years of global leadership experience across services, engineering, product development and business management. He most recently led the Services function as Vice President at Tetra Pak AB, Sweden, where he steered international teams in deploying digital services across markets. His appointment signals a strategic emphasis on expanding CG Power’s service footprint and accelerating customer-centric, tech-enabled offerings.
Rushikesh Kulkarni, described as a global technology and engineering leader, steps in as Chief Growth & Innovation Officer for the Industrial Business. He brings more than two decades of experience across industrial automation, consumer electronics, embedded systems and digital transformation, with leadership tenures at organizations including GIC, Eaton, Whirlpool, Honeywell and Bosch. An inventor with over 30 patents and a recognized innovator, Kulkarni has built high-performance engineering organizations and led large-scale initiatives, positioning CG Power to scale its product development and go-to-market capabilities in the industrial space.
As part of its growth strategy, the company’s board also approved a brownfield and greenfield capex program to relieve capacity constraints in its Power Transformer and Switchgear divisions. The plan includes expanding the T3 Power Transformer facility by 10,000 MVA at an investment of ₹68 crore, with completion targeted in 12–15 months. In the switchgear segment, the S1 Unit (OIP) at Ambad will see about ₹300 crore invested to raise capacity to 800 kV assemblies, with production slated to begin in 30–36 months. S3 Unit-II Phase 2 will add about ₹15.31 crore of capacity for EHV circuit breakers, expected to be online in 6–9 months. The GIS division at Vilholi, Nashik, will receive an uplift to ₹44.62 crore from ₹35.17 crore, including procurement of an 800 kV high-voltage testing system, with about 90% of assets anticipated to transfer to a Greenfield facility on commissioning. Collectively, the investments are framed as greenfield expansions for the switchgear business, intended to meet a rising domestic and export demand as the order pipeline strengthens.