Balkrishna Industries appoints new CFO as Bajaj retires
Madhusudan Bajaj steps down on superannuation, stays as advisor. Saroj Kumar Khuntia takes over as CFO effective June 18.
— 1 earlier story on Balkrishna Industries Ltd. →What's new
- CFO Madhusudan Bajaj retired on June 17 after superannuation.
- Saroj Kumar Khuntia appointed as new CFO effective June 18.
- Bajaj will continue as special advisor to chairman and MD.
Why this matters
For a ₹43,612 cr tyre maker, a planned CFO retirement is routine governance. The outgoing CFO staying on as advisor ensures continuity, while Khuntia's deep experience at diverse firms signals a steady hand. The market is unlikely to see this as a catalyst.
What we're watching
- Khuntia's first quarterly results commentary for any strategic shift.
- Any changes to financial reporting or capital allocation priorities.
- Regulatory filings for related-party transactions under new CFO.
The full read
Balkrishna Industries has executed a planned leadership succession. CFO Madhusudan Bajaj retired on superannuation on June 17, and Saroj Kumar Khuntia took charge the next day. Bajaj isn't leaving: he stays on as special advisor to the chairman and MD. Khuntia, a fellow chartered accountant, brings 24+ years from CG Power, Mahindra & Mahindra, IBM, and Hindustan Lever. For a ₹43,612 cr tyre maker with a trailing P/E of 35.1 and debt-equity of 0.31, this is a routine governance event. Hardly a model-changer. The next test is Khuntia's first earnings call — whether he signals any shift in capital allocation or reporting.
Questions answered
- Who is the new CFO of Balkrishna Industries?
- Saroj Kumar Khuntia, a fellow chartered accountant with over 24 years of experience at CG Power, Mahindra & Mahindra, IBM, and Hindustan Lever, has been appointed CFO effective June 18.
- Is the outgoing CFO leaving the company entirely?
- No. Madhusudan Bajaj, who retired on superannuation, will continue as a special advisor to the chairman and managing director.
- Why is this CFO change considered routine?
- The retirement was on superannuation (planned retirement age), not a sudden exit. The successor was appointed immediately, and the outgoing CFO remains as advisor, ensuring a smooth transition.
- How large is Balkrishna Industries in market cap?
- The company has a market capitalisation of about ₹43,612 crore, making it a large-cap in the tyre sector.
Balkrishna Industries Ltd.
Latest quarter · Mar 2026
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All notes on BALKRISIND →- 17 Jun 2026 · 5:28 PM IST Balkrishna Industries appoints new CFO as Bajaj retires
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