Jindal Stainless appoints new CFO and expands global presence

Jindal Stainless (BSE:JSL) announced key leadership changes and strategic global expansion plans. Effective June 25, 2025, Mr. Tarun Kumar Khulbe, currently CEO & Whole-time Director, will also assume the role of Chief Financial Officer. He brings 35 years of industry experience to the role. As CFO, Mr. Khulbe will be designated as Key Managerial Personnel (“KMP") and Senior Management Personnel (“SMP") of the Company in his capacity as CFO (in addition to him already being KMP & SMP as CEO of the Company). In a parallel move, the Board approved making PT Glory Metal Indonesia (PT GMI) a step-down subsidiary. This move is expected to be completed in Q2FY26. PT GMI was incorporated on May 16, 2024, as a joint venture entity in Indonesia, dedicated to investing, developing, constructing and operating a stainless steel melt shop with a 1.2 million tonnes per annum production capacity. Jindal Stainless, through its subsidiary, will have the right to appoint the majority of directors on Board of PT GMI, thereby making it a step-down subsidiary. Jindal Stainless believes this strategic move will enhance the company's global manufacturing and supply chain operations, aligning with overall business objectives.