He will succeed the current CEO, Rajeev Sikand, who is set to retire upon the close of business on 31 March 2026.
Sumit Bhatnagar brings over 26 years of experience in the automotive industry, with expertise spanning business development, greenfield setup, operations, technology transfer, supply chain & logistics, human resources, and infrastructure. He currently serves as Group President of ANAND (since January 2017) and Managing Director of ANEVOLVE (since January 2022). He is also a member of the Anand Executive Board and leads group excellence in manufacturing.
Before joining Alicon Castalloy, Bhatnagar was Senior Vice President and COO of Gabriel India (June 2011–December 2017) and held leadership roles at Anand CY Myutec (July 2008–May 2011).
He holds a BE in Production Engineering from Jawaharlal Nehru Engineering College, Aurangabad, and a PGDBM in Finance and Strategy from the Indian Institute of Management, Kozhikode (2011). Sumit Bhatnagar is not related to any directors on Alicon’s board and is not barred from holding the office of CEO by any SEBI or other regulatory orders.
In a simultaneous announcement, the company’s board appointed Ashish Srivastava as chief human resource officer, effective from 25 September 2025.
Rajeev Sikand, who will retire in March 2026, is also not related to any directors on the board. He currently holds 5,08,638 shares in the company.
Alicon Castalloy is one of India's largest integrated manufacturers of aluminum castings. Headquartered at Pune, the company amalgamates the best of European Engineering, Japanese Quality and Indian Ingenuity & frugality to serve a diversified marquee customer base across sectors such as automobiles, infrastructure, aerospace, energy, agriculture, defence and healthcare.
The company’s consolidated net profit fell 51.1% to Rs 9.31 crore on a 5% decline in net sales to Rs 417.95 crore in Q1 FY26 over Q1 FY25.
Shares of Alicon Castalloy rose 0.25% to Rs 830.35 on the BSE.