Castrol India MD Kedar Lele Resigns; Saugata Basuray Named Interim CEO

Lubricant major Castrol India Ltd announced that its Managing Director, Kedar Lele, has resigned from his position, effective December 31, 2025. The Mumbai-based company confirmed the development through a regulatory filing on Friday, stating that Lele stepped down to pursue other professional opportunities outside the organisation.

Lele, who has been instrumental in steering Castrol India’s growth strategy during his tenure, will continue to serve as Managing Director until the close of business hours on December 31. His departure marks the end of a crucial phase for the company as it navigates the evolving automotive and industrial lubricant landscape in India.

Following Lele’s exit, the company’s board has appointed Saugata Basuray as the Interim Chief Executive Officer (CEO), effective January 1, 2026. Basuray will take on this interim leadership role in addition to his existing responsibilities as Wholetime Director and Head of B2C Sales. He will oversee day-to-day operations and guide the company through the transition period until a new Managing Director is appointed.

In an official statement, Castrol India said, “The Board places on record its appreciation for Kedar Lele’s contributions and leadership during his tenure and wishes him success in his future endeavours.”

Industry observers note that this leadership transition comes at a time when Castrol India is adapting to rapid changes in the automotive sector, including the rising demand for electric vehicles and the growing emphasis on sustainability in lubricant manufacturing. Under Lele’s management, the company strengthened its product portfolio and expanded its reach in both retail and industrial segments.

Basuray, a long-time executive at Castrol India, is expected to ensure business continuity while supporting strategic initiatives aligned with parent company BP’s long-term energy transition goals. His dual role will help maintain operational stability as the board initiates the process of selecting the next Managing Director.

On Friday, shares of Castrol India closed 0.35% lower at ₹200.55 apiece on the Bombay Stock Exchange (BSE), following the announcement.