Company Leadership | Elgi Equipments Ltd

BOARD OF
DIRECTORS SENIOR
MANAGEMENT COMMITTEE
MEMBERS INDEPENDENT
DIRECTORS

DR. JAIRAM VARADARAJ

MANAGING DIRECTOR

Dr. Jairam Varadaraj serves as the Managing Director of Elgi Equipments Ltd. and Board Member of Elgi Ultra Industries Ltd., Elgi Rubber Co., Magna Electro Castings, Precot Meridian Ltd. and Thermax Ltd. Dr. Varadaraj is a third-generation entrepreneur from the illustrious business family of LRG Naidu. For nearly 30 years, Dr. Varadaraj has led and guided the organisation’s business interests in textiles, polymers, mechanical machines and consumer appliances. Prior to this, he was engaged in teaching and research in the United States. Dr. Varadaraj is the former Chairman of the Tamil Nadu State Committee of the Confederation of Indian Industry (CII) and past member of the Southern Region Council of CII. He holds a master’s degree in Business Administration from George Washington University, USA, and a PhD in international business from the University of Michigan, USA. He also enjoys the distinction of holding four patents in the fields of compressors, drive belts, consumer appliances and food manufacturing.

ANVAR JAY VARADARAJ

CHIEF OPERATING OFFICER

Anvar is part of the ELGi promoter group and has been in various roles and regions in ELGi over the past ten years.

In 2008 after earning his BA degree from the University of Michigan, Anvar started his career at Target Corporation in the USA in the internal audit department working on process and finance assurance. Anvar gained exposure to the importance of financial and process compliance across various functions within Target. Anvar moved to Target’s pharmacy business to help operationally enable the implementation of their pharmacy dispensing software system.

In 2011, Anvar pursued his MBA in marketing at Cornell University. Post MBA in 2013, Anvar worked on the Snickers brand at Mars Chocolate North America. Anvar learned the importance of building a customer centric brand and innovating to gain new customers.

In 2015, Anvar joined ELGi to lead the marketing function based in Coimbatore. Anvar applied his marketing knowledge to build digital and social platforms to build ELGi’s brand through story telling. He built the marketing organization with talent and process to help support ELGi’s global aspirations. During this tenure in India, he worked on aftermarket and sales projects to help drive ELGi’s consideration and market share.

In 2018, Anvar moved to ELGi North America in Charlotte to build the marketing organization and support ELGi’s North American business objectives. Anvar setup the foundations for ELGi North America’s marketing organization and worked with leadership on various organic and inorganic initiatives. In 2020, Anvar transitioned to the ELGi Board in an executive position continuing to work with North American and global leadership on transformative initiatives.

In 2022, Anvar transitioned into the North American business leadership role as President. In 2023, Anvar returned to India as Chief Operating Officer – COO, to focus on key growth initiatives to drive ELGi’s global long-term goals.

SRINIVASAN KRISHNAMURTHI

Srinivasan is a Fellow of the Institute of Chartered Accountants of India and also has a Bachelor's degree in Chemistry from the University of Madras. He has also passed the Certified Information Systems Auditor (CISA) examination.

He worked with PricewaterhouseCoopers (“PwC”) for over 30 years including 23 years in Dubai and two years in Muscat. Srini was a senior Assurance Partner in Dubai/India and had been the audit engagement leader on a number of large/complex clients in different industries/sectors including banking, engineering and construction, manufacturing and oil and gas. Srini has also managed assignments in Azerbaijan, Bahrain, Egypt, Saudi Arabia, UK and USA.

He has successfully led the large IFRS conversion project for the national oil and gas company of Saudi Arabia and the IFRS conversion strategy and impact analysis for the national telecom company of the United Arab Emirates. He has also successfully led a team to produce a comprehensive VAT Audit Manual for Dubai Customs Authority on behalf of the Dubai Government.

He was the PwC Middle East IFRS ACS (Accounting Consulting Services) Leader from 2005 to 2013. He was also a member of the PwC Audit Risk and Quality Management function in the Middle East. He returned to PwC India in April 2013 and was the Regional Assurance Leader for South, and Office Managing Partner of its Chennai office.

RAVINDRAN SRINIVASAN

Ravindran is a Graduate of Madras University and PGDM from Indian Institute of Management Calcutta with specialisation in Finance.

He has over 20 years of experience in Finance, Treasury, Corporate Planning and M&A in large Indian and Multinational Corporations. Started career in Associated Cement Companies Limited. Handled Treasury, Project Finance, M&A, Financial Planning and fund raising for the Company. Was also the CFO for an ACC-Siemens Joint Venture in the electronics component industry.

His last position held was Director Finance, Regional Office Far East, Novo Nordisk A/S. heading the Finance, Accounting, Legal and IT functions for Novo Nordisk Affiliates in India, Korea, Taiwan , Thailand , Singapore , Malaysia, Bangladesh , Vietnam , Philippines etc.

Since 2008, he has been an Independent Advisor in the areas of mergers and acquisitions, financial structuring, organisational structures and strategic planning.

Also been an independent director on the Board of Igarashi Motors Limited during the period 2013-2014.

Currently a director on the Board of EcoEdu Consultants Private Limited.

MR. SUMAN KUMAR DAS

Suman is a retired senior executive with 35 years of experience as a business leader and CFO.

Holding a Bachelor's degree in Commerce, he is also an associate member of the Institute of Chartered Accountants of India and completed the CS course from the Institute of Company Secretaries of India.

His career journey includes donning roles such as Internal Auditor at Apollo Tyres and Manager, Management Accounting at Smith Kline Beecham Ltd.

Notably, he spent 30 years with Eli Lilly and Company, showcasing his vast expertise in finance, global capability centers, and strategic planning. As Managing Director, he oversaw the holistic well-being of the company and scaled a global capability center in Bengaluru.

With extensive international experience, he has led multinational teams, focusing on financial outcomes, compliance, and fostering innovation while promoting diversity and inclusion.

DR. JAIRAM VARADARAJ

MANAGING DIRECTOR

Dr. Varadaraj is ex Chairman of the Tamil Nadu State Committee of the Confederation of Indian Industry (CII) and past member of the Southern Region Council of CII. He holds a master’s degree in business administration from George Washington University, USA, and a PhD in international business from the University of Michigan, USA. He owns the distinction of holding four patents in the fields of compressors, drive belts, consumer appliances and food manufacturing.

RAMESH PONNUSWAMI

EXECUTIVE DIRECTOR

Ramesh Ponnuswami, Executive Director is responsible for the Elgi Business System across all functions globally. In addition, he leads the ELGi Purpose program as well as the company’s Corporate Social Responsibility (CSR) initiatives. In his previous roles, Ramesh was responsible for ELGi’s business regions, OSEA and ISAAME, and was also the Managing Director of ATS ELGI Limited, a wholly owned subsidiary of ELGi. He continues to serve as a Director of ATS ELGI Limited. He joined ELGi in November 2011.

Prior to joining ATS ELGI, he was with the EID Parry (India) Limited, a Murugappa Group company, as Vice President – Operations. He was with Parry for ten years, handling several roles involving sugar, power and distillery plant operations, sales, and marketing. He also led the project team that engineered, built, and commissioned Asia’s largest port-based sugar refinery. Before joining Parry, Ramesh Ponnuswami worked for five-and-a-half years at Sugar Research Limited in Australia as business development manager, responsible for selling technology and services to sugar companies worldwide.

Ramesh Ponnuswami holds a mechanical engineering degree from India and an MBA from RMIT University, Melbourne, Australia. He was part of the Murugappa Group Business Leadership Program.

CHRIS RINGLSTETTER

PRESIDENT - EUROPE

Chris Ringlstetter is responsible for all of ELGi’s European operations, including Rotair. He has 25 years of business leadership experience with Ingersoll Rand and Doosan. His career has spanned application engineering, marketing, service and sales management, product management. He was the president of Ingersoll Rand’s air treatment division – a $200 million global business with full P&L responsibilities, including three manufacturing facilities. He has worked in multiple countries including the US, Germany, Italy, England and Belgium. He speaks English, German and Italian fluently.

Prior to joining ELGi, Chris Ringlstetter was the European president of the Luminator Technology Group, which makes passenger information systems for the mass transit and aerospace industries. In this role, held full P&L responsibilities over Europe, ME, Africa and Asia and led two manufacturing facilities.

Ringlstetter has an MBA from Duke University, and a BS in Mechanical Engineering from Michigan State University.

BHEEMSINGH MELCHISEDEC

DIRECTOR, OPERATIONS

DR. VENU MADHAV

DIRECTOR, TECHNOLOGY

Dr. K. Venu Madhav is responsible for new product development, technology development and innovation with a view to meeting global market requirements. He has close to 24 years of industrial experience and has been with ELGi since 1998, barring a short stint in a research organisation after his master’s degree. Dr. Venu has played a pivotal role in designing air ends and has been singularly responsible for bringing the “know why” of rotor design to the company. Venu Madhav holds a doctoral degree in Mechanical Engineering with specialisation in compressors from City University, London. He has several technical publications and 2 patents in compressor technology to his credit. Apart from this, he enjoys playing badminton with his children and reading during his leisure time.

NITESH JAIN

CHIEF HUMAN RESOURCE OFFICER

Nitesh Jain holds the position of Chief Human Resource Officer at ELGi. Prior to joining ELGi, he served as the Senior Vice President - Human Resources at Glenmark Pharmaceuticals. Throughout his career, Nitesh has held various roles of increasing responsibility at esteemed organizations such as Dr. Reddy's Laboratories, Arvind Mills, and Crompton Greaves. His extensive experience includes managing and collaborating with global teams, with expertise in Talent Strategy, Organizational Design, Change Management, Learning & Development, Rewards & Recognition, and Performance Management.

Nitesh holds a bachelor’s degree in Computer Application from Birla Institute of Technology, Ranchi, India. Additionally, he obtained a Post Graduate Diploma in Management with a specialization in Human Resources from Xavier Institute of Social Service, Ranchi, India.

DR PREMENDRA

CHIEF STRATEGY OFFICER

Dr Premendra is responsible for Corporate Strategy at ELGi and its subsidiaries, including ATS ELGI, and also leads Product Management Organization and Digital functions at ELGi. He joined ELGi in March 2023. Before joining ELGi, he worked with JK Paper Ltd. as Vice President - Strategy. Prior to that, he has worked with Roland Berger and Toyota Motor Europe.

Premendra has a bachelor’s degree in Materials Science & Metallurgical engineering from Indian Institute of Technology (Kanpur) and doctoral degree in Materials Science, with specialization in corrosion and electrochemistry, from Delft University of Technology (Netherlands). He has completed one-year full-time MBA (PGPX) from Indian Institute of Management (Ahmedabad). He has authored several research publications and a patent.

SRINIVASAN KRISHNAMURTHI

RAVINDRAN SRINIVASAN

Ravindran is a Graduate of Madras University and PGDM from Indian Institute of Management Calcutta with specialisation in Finance.

Since 2008, he has been an Independent Advisor in the areas of mergers and acquisitions, financial structuring, organisational structures and strategic planning.

Also been an independent director on the Board of Igarashi Motors Limited during the period 2013-2014.

Currently a director on the Board of EcoEdu Consultants Private Limited.

MR. SUMAN KUMAR DAS

Suman is a retired senior executive with 35 years of experience as a business leader and CFO.

His career journey includes donning roles such as Internal Auditor at Apollo Tyres and Manager, Management Accounting at Smith Kline Beecham Ltd.

With extensive international experience, he has led multinational teams, focusing on financial outcomes, compliance, and fostering innovation while promoting diversity and inclusion.

RAVINDRAN SRINIVASAN

Ravindran is a Graduate of Madras University and PGDM from Indian Institute of Management Calcutta with specialisation in Finance.

Since 2008, he has been an Independent Advisor in the areas of mergers and acquisitions, financial structuring, organisational structures and strategic planning.

Also been an independent director on the Board of Igarashi Motors Limited during the period 2013-2014.

Currently a director on the Board of EcoEdu Consultants Private Limited.

MR. SUMAN KUMAR DAS

Suman is a retired senior executive with 35 years of experience as a business leader and CFO.

His career journey includes donning roles such as Internal Auditor at Apollo Tyres and Manager, Management Accounting at Smith Kline Beecham Ltd.

With extensive international experience, he has led multinational teams, focusing on financial outcomes, compliance, and fostering innovation while promoting diversity and inclusion.

ANVAR JAY VARADARAJ

Anvar is part of the ELGi promoter group and has been in various roles and regions in ELGi over the past ten years.

SRINIVASAN KRISHNAMURTHI

MR. SUMAN KUMAR DAS

Suman is a retired senior executive with 35 years of experience as a business leader and CFO.

His career journey includes donning roles such as Internal Auditor at Apollo Tyres and Manager, Management Accounting at Smith Kline Beecham Ltd.

With extensive international experience, he has led multinational teams, focusing on financial outcomes, compliance, and fostering innovation while promoting diversity and inclusion.

ANVAR JAY VARADARAJ

Anvar is part of the ELGi promoter group and has been in various roles and regions in ELGi over the past ten years.

SRINIVASAN KRISHNAMURTHI

RAVINDRAN SRINIVASAN

Ravindran is a Graduate of Madras University and PGDM from Indian Institute of Management Calcutta with specialisation in Finance.

Since 2008, he has been an Independent Advisor in the areas of mergers and acquisitions, financial structuring, organisational structures and strategic planning.

Also been an independent director on the Board of Igarashi Motors Limited during the period 2013-2014.

Currently a director on the Board of EcoEdu Consultants Private Limited.

MR. SUMAN KUMAR DAS

Suman is a retired senior executive with 35 years of experience as a business leader and CFO.

His career journey includes donning roles such as Internal Auditor at Apollo Tyres and Manager, Management Accounting at Smith Kline Beecham Ltd.

With extensive international experience, he has led multinational teams, focusing on financial outcomes, compliance, and fostering innovation while promoting diversity and inclusion.

S.No	Programme	Date of Programme	Duration
1	Visit to the Air Compressor Plant & Foundry. During the visit, they were briefed about the manufacturing process, productivity, raw materials used, overall power consumption, cost savings and environmental protection activities undertaken by the new plant.	25-09-2014	2 hrs
2	Presentation about the performance of Elgi Gulf FZE – Wholly owned subsidiary of Elgi Equipments Limited by Mr. Raghavan Neelakantan – Director ISAAME	03-02-2015	2 hrs
3	Presentation on proposed New Project by Mr. Salim Ramachandran – Vice President Technology.	30-10-2015	2 hrs
4	Presentation on Technology Road Map by Mr. Rajendra Singh – Director Technology	05-02-2016	2 hrs
5	Presentation on the current operations of the Chinese Subsidiaries ie., Elgi Equipments Zhejiang Ltd and Elgi Compressors Trading Shanghai Ltd by Mr. S Sriram – Chief Financial Officer & Director COSEA.	29-07-2016	1 hr
6	Presentation on Technology Road and updates on Motor Project by Mr. Rajendra Singh – Director Technology	10-02-2017	2 hrs
7	Presentation on Project Phoenix by Mr. Ramesh Ponnuswami – Director ISAAME	09-05-2017	1 hr
8	Presentation by Mr. Ramesh Ponnuswami, Director – ISAAME and Mr. Jayakanthan, Director – Product, Systems and Strategy, members of the Risk Management Committee on a high risk area from the NPPO and ISAAME departments.	28/07/2017	Half an hour
9	Presentation on the Technology Roadmap by Mr. Sree Ramachandra Murthy, Director – Technology & Operations.	28/07/2017	Half an hour
10	Presentation on Funding Plan for the future in line with CK2 by Mr. S Sriram – Chief Financial Officer on.	28/07/2017	Half an hour
11	Presentation on the Project – Oil Free Compressors by Dr. Venu Madhav, Vice President, Technology	29/01/2018	Half an hour
12	Presentation on Air~Alert services by Mr. Salim Ramachandran, Vice President, Technology	29/01/2018	Half an hour
13	Presentation on Overall Global Strategy of the Company by Mr. Jayakanthan R, Director – Product, Systems & Strategy	29/01/2018	Half an hour
14	Presentation on the Dash Board showing progress of R&D Road Map by Dr. Venu Madhav – Vice President Technology	10/08/2018	Half an hour
15	Presentation on Deming Prize by Mr. Jayakanthan R, Director – People, Systems & Strategy and Mr. Sundarrajan P, VP- BS	08/11/2019	Half an hour
16	Restructuring of European business	08/02/2021	2 hrs
17	Necessity for forming subsidiaries in Nordics, U.K. & Poland	08/02/2021	1 hr
18	Key changes in law , Viz the new consumer protection law, new CSR rules	08/02/2021	1 hr
19	Plans for introduction of new products	09/02/2021	2 hrs
20	New strategic business plan for the enterprise	09/02/2021	2 hrs
FINANCIAL YEAR 2021-22
21	i) Strategic Business Plan 2	18/06/2021	1 hr
	ii) Project IOT, People demographics, Policy changes and Project COSMOS	08/11/2021	1 hr
	iii) Changes in SEBI Listing Regulations on Independent Directors and Related Party Transactions iv) Strategic Business Plan 1	10/02/2022	1 hr
	Total Hours		3 hrs

S.No	Programme	Date of Programme	Duration
1	Visit to the Air Compressor Plant & Foundry. During the visit, they were briefed about the manufacturing process, productivity, raw materials used, overall power consumption, cost savings and environmental protection activities undertaken by the new plant.	25-09-2014	2 hrs
2	Presentation about the performance of Elgi Gulf FZE – Wholly owned subsidiary of Elgi Equipments Limited by Mr. Raghavan Neelakantan – Director ISAAME	03-02-2015	2 hrs
3	Presentation on proposed New Project by Mr. Salim Ramachandran – Vice President Technology.	30-10-2015	2 hrs
4	Presentation on Technology Road Map by Mr. Rajendra Singh – Director Technology	05-02-2016	2 hrs
5	Presentation on the current operations of the Chinese Subsidiaries ie., Elgi Equipments Zhejiang Ltd and Elgi Compressors Trading Shanghai Ltd by Mr. S Sriram – Chief Financial Officer & Director COSEA.	29-07-2016	1 hr
6	Presentation on Technology Road and updates on Motor Project by Mr. Rajendra Singh – Director Technology	10-02-2017	2 hrs
7	Presentation on Project Phoenix by Mr. Ramesh Ponnuswami – Director ISAAME	09-05-2017	1 hr
8	Presentation by Mr. Ramesh Ponnuswami, Director – ISAAME and Mr. Jayakanthan, Director – Product, Systems and Strategy, members of the Risk Management Committee on a high risk area from the NPPO and ISAAME departments.	28/07/2017	Half an hour
9	Presentation on the Technology Roadmap by Mr. Sree Ramachandra Murthy, Director – Technology & Operations.	28/07/2017	Half an hour
10	Presentation on Funding Plan for the future in line with CK2 by Mr. S Sriram – Chief Financial Officer on.	28/07/2017	Half an hour
11	Presentation on the Project – Oil Free Compressors by Dr. Venu Madhav, Vice President, Technology	29/01/2018	Half an hour
12	Presentation on Air~Alert services by Mr. Salim Ramachandran, Vice President, Technology	29/01/2018	Half an hour
13	Presentation on Overall Global Strategy of the Company by Mr. Jayakanthan R, Director – Product, Systems & Strategy	29/01/2018	Half an hour
14	Presentation on the Dash Board showing progress of R&D Road Map by Dr. Venu Madhav – Vice President Technology	10/08/2018	Half an hour
15	Presentation on Deming Prize by Mr. Jayakanthan R, Director – People, Systems & Strategy and Mr. Sundarrajan P, VP- BS	08/11/2019	Half an hour
16	Restructuring of European business	08/02/2021	2 hrs
17	Necessity for forming subsidiaries in Nordics, U.K. & Poland	08/02/2021	1 hr
18	Key changes in law , Viz the new consumer protection law, new CSR rules	08/02/2021	1 hr
19	Plans for introduction of new products	09/02/2021	2 hrs
20	New strategic business plan for the enterprise	09/02/2021	2 hrs
FINANCIAL YEAR 2021-22
21	i) Strategic Business Plan 2	18/06/2021	1 hr
	ii) Project IOT, People demographics, Policy changes and Project COSMOS	08/11/2021	1 hr
	iii) Changes in SEBI Listing Regulations on Independent Directors and Related Party Transactions iv) Strategic Business Plan 1	10/02/2022	1 hr
	Total Hours		3 hrs

FINANCIAL YEAR 2022-23
S.No	Programme	Date of Programme	Duration
1	Presentation on people demographics.	May 13, 2022	30 minutes
2	Adoption of new policies towards environmental, social and governance (“ESG”) covering Human Rights Policy, Anti-Bribery Policy and Supplier Code of Conduct.	August 12, 2022	30 minutes
3	a. Board meeting tool / app to the Directors which provides easy access to view all documents related to a Board, committee meetings in a clear manner with facility to annotate, comment and collaborate in secured manner. b. Presentation on ESG reporting. c. Presentation on Asia pacific whistleblowing landscape – benchmarking & best practices.	November 4, 2022	15 minutes 30 minutes 15 minutes
4	Presentation on Strategic Business Plan.	February 3, 2023	30 minutes
Total Hours			2.30 hrs

FINANCIAL YEAR 2023-24
S.No	Programme	Date of Programme	Duration
1	Presentation on ESG initiatives and updates covering the following: a. ELGi ESG Milestones 2022-23 walkthrough b. Recapping ELGi’s E-S-G Strategy and Key Focus Areas c. Progress Update and Highlights for 2022-23	May 19, 2023	30 minutes
2	Presentation on the amendments to the SEBI Listing Regulations, notified by SEBI effective July 14, 2023. The key highlights pertaining to Regulation 30 disclosures, criteria for materiality, verification of market rumors and other amendments were presented	August 11, 2023	30 minutes
3	A preliminary presentation on the strategic business plan for the next three financial years at a macro level.	February 12, 2024	30 minutes
Total Hours			1.30 hrs

FINANCIAL YEAR 2024-25
S.No	Programme	Date of Programme	Duration
1.	Presentation on SEBI LODR Regulatory Updates	May 27, 2024	15 Minutes
2.	Presentation on Transfer Pricing Model & Foreign Exchange Management Act, 1999 (FEMA) by Ernst & Young LLP	February 10, 2025	30 Minutes
3.	Presentation on Investment Strategy of the Company	February 10, 2025	30 Minutes
4.	Presentation on Internal Audit Report by E&Y on order to cash (O2C) process for the period January to October 2024	February 10, 2025	30 Minutes
5.	Presentation on Annual Business Plan for the Financial Year 2025-26	February 17, 2025	1 Hour
Total Hours			2.45 Hours