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Munitions India Nears Financial Leadership Fix with IOCL Veteran

By IndianMandarins- 16 Oct 2025
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New Delhi (16.10.2025): The state-owned armaments manufacturer, Munitions India Limited (MIL), is set to gain a new financial head following the selection of Sagar Appasaheb Mudhole for the post of Director (Finance).
The Public Enterprises Selection Board (PESB) formally recommended Mudhole for the crucial board-level position on Wednesday. The role at MIL, a Schedule 'A' central public sector enterprise (CPSE) under the Department of Defence Production (M/o Defence), is currently vacant.
A. S. Mudhole is currently serving as Chief General Manager (Finance) at the Marketing Head Office of Indian Oil Corporation Limited (IOCL) in Mumbai. His extensive financial background in one of India’s largest corporate entities is expected to bring significant project financing and corporate governance experience to the Defence Production unit.
The selection process saw a strong competition, with 10 candidates appearing before the PESB for the interview. Mudhole’s final appointment hinges on requisite vigilance clearances and subsequent approval from the Appointments Committee of the Cabinet (ACC).

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