Raymond Group announced a key leadership change as part of its ongoing transformation aimed at driving its next phase of growth. Rakesh Tiwary has been appointed Group Chief Financial Officer effective December 3, 2025. Amit Agarwal, who previously held the Group CFO role while supporting multiple businesses under Raymond Lifestyle Ltd, will now shift fully into the Lifestyle business and stepped down as Group CFO on December 2, 2025.
Mr Tiwary brings over 25 years of financial leadership experience across a diverse range of sectors, including cement, airports, power, solar, steel, energy, and oil. His expertise covers strategic finance, capital planning, governance, integration, and performance restructuring. His career includes CFO roles at Adani Cement, Adani Airports, Adani Electricity, and Adani Solar, in addition to senior positions at JSW Steel, Reliance Industries, and Indian Oil Corporation. He is a Chartered Accountant, Cost Management Accountant, and MBA.
This leadership shift strengthens the Group’s financial strategy and governance framework as it advances its transformation journey. To unlock greater shareholder value and enable focused expansion, Raymond has reorganized into three independent, listed, net-debt-free companies.
Raymond Lifestyle Limited was listed on September 5, 2024, followed by Raymond Realty Limited on July 1, 2025. Raymond Limited now concentrates on the engineering segment. From textiles to real estate and now precision engineering—including sectors such as aerospace, defense, and EV components—the Group’s evolution reflects both business ambition and a deeper commitment to national development and innovation.
Founded in 1925, Raymond Group began as a pioneer and leader in fabric manufacturing before expanding into sectors such as engineering and real estate. Following the demerger of its Lifestyle and Real Estate divisions into separate independent entities, Raymond Limited now focuses on two primary businesses within its Engineering vertical: Tools & Auto Components, and Aerospace & Defence.
Raymond’s engineering division holds a leadership position in the manufacturing of files and hand tools, with a strong footprint in both domestic and international markets. The acquisition of Maini Precision Products Limited (MPPL) has further strengthened Raymond’s engineering portfolio, marking its entry into high-growth sectors including Aerospace, Defence, and Electric Vehicle components. This strategic expansion enables the business to serve both global and Indian markets with advanced engineering solutions.
