In a move that underscores internal continuity, Electrosteel Castings Limited has announced the appointment of Rajesh Daga as Chief Financial Officer, effective August 11, 2026. The leadership change comes as Ashutosh Agarwal resigns from the post of Whole-Time Director & Chief Financial Officer, with his duties stepping down by the close of business on August 10, 2026. The board’s decision signals a planned transition aimed at stability in the company’s financial leadership.
Rajesh Daga is a seasoned chartered accountant who has spent over three decades with Electrosteel Castings Limited, developing a deep, cross-functional understanding of the business. After clearing his CA exams on the first attempt in 1987, he joined ECL in 1989 and has since served in diverse roles spanning Finance, Accounts, Purchase and Sales. His long tenure and intimate familiarity with the company’s financial systems and strategic priorities are presented by the board as key strengths for the CFO role.
The appointment was approved by the Board on the basis of recommendations from the Nomination and Remuneration Committee and the Audit Committee. While Agarwal’s departure marks the end of an era for the company’s finance leadership, the internal elevation of Daga is framed as a seamless transition designed to preserve governance and strategic continuity as the group advances its ongoing initiatives.
Electrosteel Castings’ leadership shake-up comes at a time when the company pursues its core business of pipes and fittings and related activities, with a track record of long-standing internal succession in key executive roles. The move reinforces a message of internal development and stability at the top finance helm, as the company continues to navigate market dynamics and strategic priorities.