New Delhi: Nuka Srinivasulu has assumed charge as Director (Finance) of Bharat Dynamics Limited (BDL), a Miniratna PSU under the Ministry of Defence, on Wednesday. Prior to assignment, he was serving as General Manager (Finance) in the same organisation. According to an earlier order from the Department of Personnel & Training (DoPT), Srinivasulu has been appointed on the post for a period with effect from July 1, till January 31, 2024, i.e. the date of his superannuation, or until further orders, whichever is earlier.
On December 17, 2019, Nuka was recommended for the post of Director (Finance) of BDL by a PESB panel which was duly carried by PSU Watch as soon as the announcement was done. He was selected from a list of six candidates who were interviewed by the selection panel. With his new assignment, Nuka will replace S Piramanayagam, who is currently serving on the board of BDL since January 1, 2015.
Nuka Srinivasulu's profile
Srinivasulu is a Bachelor in Commerce and an MBA in Finance from Osmania University, Hyderabad. He has a rich experience in various areas of finance spanning over 30 years, which includes 24 years in BDL. During his tenure at the defence PSU, he has played an instrumental role in coordinating with anchor investors for the maiden IPO of the Company, implementation of Indian Accounting Standards, Treasury Management, Taxation, Budgetary Control and Policy formulation.
Bharat Dynamics Limited (BDL) is a manufacturer of ammunitions and missile systems. It was founded in 1970 in Hyderabad, Telangana. BDL was established in the year 1970 as a manufacturing base for guided weapon systems. Begun with a pool of engineers drawn from Indian Ordnance Factories, DRDO and aerospace industries, BDL began by producing a first-generation anti-tank guided missile – the "French SS11B1." This product was a culmination of a licence agreement the government entered into with Aerospatiale. The defence PSU has three manufacturing units, located at Kanchanbagh Hyderabad (Telangana), Bhanur, Medak district of Telangana and Visakhapatnam (Andhra Pradesh). Two New Units are planned at Ibrahimpatnam, Ranga Reddy district, Telangana and Amravati, Maharashtra.