Rakesh Tiwary Replaces Amit Agarwal As CFO Of Raymond
Rakesh Tiwary has been appointed as Group Chief Financial Officer and Key Managerial Personnel (CFO & KMP) of Raymond Limited, effective December 3, 2025. He replaces Amit Agarwal, who has relinquished his position as Group CFO on his transition to Lifestyle Business.
In April 2025, Tiwary became CFO of Adani Cement, overseeing finance for AMBUJA and ACC. Before joining the Adani Group in February 2016, he held positions at Indian Oil, Reliance Industries Ltd., and JSW Steel Ltd. At Adani, he served as CFO of Mundra Solar Photovoltaic Ltd. (Adani Solar) and Adani Electricity Mumbai Ltd. from 2016 to 2022. He subsequently took on the role of Head of Financial Management and Control for the Airports Business and later became its CFO. He has extensive expertise in finance, accounts, commercial functions, fundraising, working capital assessment, credit control, taxation, and audit. Tiwary is a Chartered Accountant, Cost Accountant, Company Secretary, and MBA with around 25 years of experience in finance and business management.
Agarwal is a finance professional with over 31 years of experience across the Steel, Aviation, and Energy sectors, serving as CFO and business partner to CEOs to drive efficiency and value creation. He joined in 2020 from JSW Steel Coated Products Ltd., where he led business strategy as CEO. Previously, he held leadership roles at Jet Airways, Suzlon Energy, Essar Group, and ArcelorMittal, managing finance, corporate planning, treasury, and business restructuring across India, North America, and Europe. A qualified Chartered Accountant, Agarwal has a proven track record in business turnarounds and sustainable value creation. Outside work, he enjoys travelling and watching documentaries and movies.




