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PESB Recommends Shailesh Vagerwal as CMD of Bharat Dynamics Limited

Newsmantra — Mon, 23 Feb 2026 11:59:21 +0000

New Delhi: The Public Enterprises Selection Board (PESB) has recommended Shri Shailesh Vagerwal, Chief General Manager at Munitions India Limited, for appointment as Chairman and Managing Director (CMD) of Bharat Dynamics Limited, a Schedule B defence public sector undertaking. The recommendation was made following interviews with senior defence sector executives.

Shri Vagerwal brings decades of experience in defence production and strategic management. During his tenure at Munitions India Limited, he has overseen key initiatives in ammunition manufacturing, supply chain optimisation and operational efficiency. His elevation is expected to further strengthen Bharat Dynamics Limited’s production capacity and enhance its contribution to India’s defence preparedness.

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Government Grants Miniratna Category-I Status to Yantra India Limited

Newsmantra — Tue, 03 Feb 2026 06:54:27 +0000

NEW DELHI. The Defence Minister Shri Rajnath Singh has approved the grant of Miniratna Category-I status to Yantra India Limited (YIL), marking a major milestone in the company’s transformation into a profit-making defence public sector undertaking. Congratulating YIL, the Defence Minister expressed satisfaction over its rapid progress since corporatisation, highlighting improvements in turnover, indigenisation efforts and achievement of key performance benchmarks required for Miniratna status, which the company has attained within four years of its formation.

Yantra India Limited has recorded strong financial and operational growth, with sales increasing from ₹956.32 crore in the second half of FY 2021–22 to ₹3,108.79 crore in FY 2024–25. Its export performance has also shown a sharp rise, growing from zero exports in FY 2021–22 (H2) to ₹321.77 crore in FY 2024–25. The company’s diversified product portfolio includes carbon fibre composites, assemblies for medium and large calibre ammunition, armoured vehicles, artillery guns, main battle tanks, glass composites and aluminium alloys, strengthening India’s indigenous defence manufacturing capabilities.

With the Miniratna Category-I status, YIL’s Board has been empowered to approve capital expenditure of up to ₹500 crore for new projects, modernisation and procurement of equipment without prior government approval, enabling faster decision-making and accelerated growth. Yantra India Limited was formed on October 1, 2021, following the corporatisation of the erstwhile Ordnance Factory Board into seven new defence public sector undertakings to enhance efficiency, autonomy and innovation. YIL is a Schedule ‘A’ DPSU under the Department of Defence Production, and this decision further reinforces the Government’s vision of Aatmanirbhar Bharat by reducing import dependence and positioning India as a global hub for defence production.

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PESB Picks Shri Kota Ravi As CMD HAL

Newsmantra — Thu, 29 Jan 2026 13:08:46 +0000

The Public Enterprises Selection Board (PESB) recommended the name of Shri Kota Ravi for the post of Chairman & Managing Director of Hindustan Aeronautics Limited (HAL).

Shri Kota Ravi, currently serving as Director (Operations) at HAL, was among several high-profile candidates interviewed for the position.

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