Bajaj Electricals Grants 11,725 Performance Stock Options Under PSOP Plan 2023

Bajaj Electricals Limited has announced the grant of 11,725 Performance Stock Options under its 'Performance Stock Option Plan 2023' (PSOP Plan 2023) to one eligible employee. The Nomination and Remuneration Committee of the Board of Directors approved this grant at its meeting held on May 15, 2026, in accordance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The disclosure was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Key Details of the Stock Option Grant

The following table outlines the significant parameters of the stock option grant as disclosed by the company:

Parameter: Details Number of Options Granted: 11,725 Performance Stock Options Number of Eligible Employees: 1 Shares Covered: 11,725 fully paid-up equity shares of Rs. 2/- each Exercise Price: Rs. 2/- per equity share (equal to face value) Exercise Period: Two (2) years from the date of respective vesting Plan Name: Bajaj Electricals Limited - Performance Stock Option Plan 2023 Regulatory Compliance: SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021

Plan Structure and Compliance

The PSOP Plan 2023 is fully compliant with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The exercise price of the options has been set equal to the face value of the company's equity shares, i.e., Rs. 2/- per equity share. The exercise period for the granted options is two years from the date of respective vesting, except for specific events outlined in the PSOP Plan 2023.

The significant terms of the PSOP Plan 2023 were disclosed in the Explanatory Statement forming part of the Postal Ballot Notice dated November 6, 2023, accessible on the company's investor relations website. The grant disclosure was filed in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The filing was signed by Prashant Dalvi, Chief Compliance Officer and Company Secretary of Bajaj Electricals Limited.

Bajaj Electricals has filed a corrigendum to its earlier disclosure dated May 11, 2026, regarding the appointment of Ms. Ashween Anand as Chief Financial Officer (CFO) Designate. The corrigendum, submitted under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, was filed by Chief Compliance Officer & Company Secretary Prashant A. Dalvi on May 13, 2026, and corrects an inadvertent typographical error in the original filing.

Corrigendum Details

The correction pertains to the language used in the original intimation regarding the process for Ms. Anand's formal CFO appointment. The revised statement clarifies that her elevation to the CFO role in the ensuing Board Meeting is subject to Board approval, a qualifier that was absent from the original disclosure. All other contents of the original intimation remain unchanged.

The following table outlines the key change made in the corrigendum:

Parameter: Details Filing Reference: Corrigendum to Disclosure No. L-1/0054/PG/PD dated May 11, 2026 Corrigendum Date: May 13, 2026 Nature of Change: Typographical correction to CFO appointment language Existing Statement: "...she will be appointed as CFO in the ensuing Board Meeting." Revised Statement: "...subject to the approval of the Board, she will be appointed as CFO in the ensuing Board Meeting."

Appointment Overview

Ms. Ashween Anand is set to join Bajaj Electricals as CFO Designate and senior management personnel with effect from May 14, 2026. The key parameters of her appointment are summarised below:

Parameter: Details Appointee: Ms. Ashween Anand Designation: CFO Designate Effective Date: May 14, 2026 Prior Experience: EY, Deloitte, Mondelez International, Colgate-Palmolive, Tata Starbucks Qualifications: Chartered Accountant (ICAI), M.Com (University of Mumbai), CFA (CFA Institute, USA) Awards: Economic Times CFO of the Year 2024, ET Edge Impactful CFO of the Year 2024

Leadership Profile

Ms. Ashween Anand is an accomplished finance leader with over 16 years of diverse experience across finance, strategy, and governance. She has worked with leading global organisations including EY, Deloitte, Mondelez International, Colgate-Palmolive, and most recently Tata Starbucks — a joint venture between Tata Consumer Products and Starbucks — where she serves as Chief Financial Officer. Her broad exposure spans financial planning, treasury, taxation, internal audit, and finance transformation, along with transaction advisory and assurance experience from her tenures at Deloitte and Ernst & Young.

In her role at Tata Starbucks, Ms. Anand has been responsible for driving profitable growth and financial strategy, partnering with the Board and leadership to build scalable capabilities, and spearheading automation, analytics, and technology-led transformation initiatives. She has also focused on strengthening operating models, cost structures, and capital efficiency across a large and complex business.

Prior Experience and Qualifications

Prior to Tata Starbucks, Ms. Anand held finance leadership roles at Mondelez International (formerly Cadbury India) and Colgate-Palmolive, managing India and key export markets including Bangladesh, Nepal, Sri Lanka, and the Maldives, along with regional roles at the Asia Pacific headquarters in Singapore. Her academic credentials include being a Chartered Accountant from the Institute of Chartered Accountants of India, a Master's degree in Commerce from the University of Mumbai, and having cleared all levels of the CFA program from the CFA Institute (USA). She is also a graduate in Speech & Drama and Effective Communication from Trinity College London. Ms. Anand has been recognised with leading industry accolades, including the Economic Times CFO of the Year 2024 and ET Edge Impactful CFO of the Year 2024.

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