New Delhi: The Public Enterprises Selection Board (PESB) has recommended Sagar Appasaheb Mudhole for the post of Director (Finance) at Munitions India Limited (MIL), marking a significant appointment in India’s defence manufacturing sector.
The key board-level position at MIL — a Schedule ‘A’ Central Public Sector Enterprise (CPSE) under the Department of Defence Production, Ministry of Defence — is currently vacant.
Sagar Appasaheb Mudhole – Senior Finance Executive from IOCL Tapped for Defence PSU Role
Mr Mudhole is presently serving as Chief General Manager (Finance) at the Marketing Head Office of Indian Oil Corporation Limited (IOCL) in Mumbai.
With a solid background in corporate finance, project evaluation, and governance at one of India’s largest public sector companies, his leadership is expected to bolster MIL’s financial strategy and capital planning as the defence PSU expands its operations.
Competitive Selection Process
The selection followed a rigorous evaluation, with 10 candidates appearing before the PESB for interviews. Mudhole’s recommendation reflects his broad expertise and track record in managing financial operations within complex public-sector environments.
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His appointment, however, remains subject to requisite vigilance clearances and final approval by the Appointments Committee of the Cabinet (ACC).
About Munitions India Limited
Established after the corporatisation of Ordnance Factory Board in 2021, Munitions India Limited is one of the seven new Defence PSUs, specialising in the production of ammunition, explosives, and defence equipment for the armed forces and export markets. With evolving geopolitical demands and a growing emphasis on indigenous defence production, strong financial leadership is key to MIL’s strategic objectives.
