Jindal Stainless Limited has informed the Exchange regarding Appointment of Mr Tarun Kumar Khulbe, CEO & Whole-time Director as also the Chief Financial Officer of the Company w.e.f. Jun 25, 2025.
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Jindal Stainless has given its existing CEO and Whole-time Director, Mr. Tarun Kumar Khulbe, the additional charge of Chief Financial Officer effective June 25, 2025. Mr. Khulbe, who has 35 years of industry experience, has been with the company since 2004 and became CEO in January 2024 after serving as Whole-time Director since 2018. In a separate decision at the same board meeting, the company approved making PT Glory Metal Indonesia (PT GMI) a step-down subsidiary, gaining the right to appoint a majority of directors on its board. PT GMI is a joint venture set up to build and operate a 1.2 million tonnes per annum stainless steel melt shop in Indonesia, and is expected to be completed in Q2 FY26. Jindal Stainless currently holds a 49% stake in PT GMI through its wholly owned subsidiary, with no change in shareholding pattern.
The dual role consolidation means one executive will oversee both operations and finance, which could streamline decision-making but also raises concentration risk for shareholders. The Indonesia subsidiary move strengthens Jindal Stainless's global supply chain footprint and positions it for capacity expansion, with the 1.2 MT facility likely to boost long-term production scale.