Elgi Equipments Limited announced that the Board in its meeting held March 15, 2024 took note of the relinquishment of Mr. Jayakanthan R, as Chief Financial Officer of the Company with effect from March 18, 2024, and that he will continue to serve on the rolls of the Company in the position of Senior Managerial Personnel until May 31, 2024, on which date he will superannuate from the Company. The Board had found a successor for the position of Chief Financial Officer and in its meeting held March 18, 2024 appointed Mr. Indranil Sen as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from March 18, 2024. Indranil is a seasoned finance leader with years of rich experience across audit firms, IT, and pharmaceuticals.

He was last associated with Biocon Ltd. He started his career in the Big 4 and his previous stints with Symphony Teleca Corporation, E&Y, KPMG & Price Waterhouse have given him exposure to different business models, working styles, and cultures, something that makes him very adaptable, working with clients across sector, handling complex accounting issues. He has worked extensively on top line (partnership, in licensing and out licensing) and bottom- line growth, with a lot of focus on bottom line given the nature of business. Indranil's first move after a long audit stint was to Symphony, an IT service firm.

He was a core part of the finance team, helping integrate technology into the finance function, and improve processes. At Biocon he started his stint focused on controllership and taxation before changing gears to focus on business finance, finally growing into the CFO role. Fairly early on, he made the switch from being a finance leader to a business partner, developing a long-term strategic point of view on business.

Indranil manages diverse stakeholders with an appropriate alignment of interests. He has been able to build relationships with private equity players, industry analysts, regulators, and his board to positively impact the organization's standing in their view.