In a significant leadership update, NMDC Steel Limited, a key player in India’s steel manufacturing sector, has announced that Smt. Priyadarshini Gaddam, currently serving as the Director (Personnel), has been entrusted with the additional charge of Director (Finance). This move has been executed in compliance with the directives issued by the Ministry of Steel, Government of India, and disclosed to the stock exchanges in adherence to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

According to the official communication dated 4th April 2025, the order from the Ministry—S-14013/1/2024-BLA-Part(1) dated 3rd April 2025—in conjunction with a prior directive No. 4(3)/2022-NMDC dated 20th March 2023, provides for Smt. Priyadarshini Gaddam to hold the additional charge of Director (Finance) for a period of three months starting from 6th March 2025 or until further orders, whichever is earlier.

This strategic decision comes at a time when corporate governance and financial leadership are pivotal to NMDC Steel’s operational stability and continued growth. Entrusting a seasoned executive like Smt. Gaddam, who already holds a significant role within the company, ensures continuity and efficiency in the company's leadership structure.

The development has been disclosed across multiple stock exchanges including BSE (Scrip Code: 543768), NSE (Security ID: NSLNISP), and Calcutta Stock Exchange (Scrip ID: 74920), as part of the company’s compliance obligations under SEBI LODR norms. The official filing was signed by Aniket Kulshreshtha, Company Secretary, and communicated to relevant stakeholders for transparency and dissemination.

Leadership Context and Implications

Smt. Priyadarshini Gaddam, by taking over the finance portfolio on an additional charge basis, steps into a critical operational and financial decision-making role. As Director (Personnel), she is already familiar with the internal policies, people strategy, and organisational structure, which will support a smooth transitional leadership in the finance division.

This temporary arrangement is expected to maintain momentum in financial planning, budgeting, audit processes, and regulatory reporting, until a permanent appointment or further government directions are issued.

Such leadership arrangements are not uncommon in Public Sector Undertakings (PSUs), particularly in sectors like steel, where strategic oversight is paramount. This also reflects the Ministry of Steel’s confidence in the capabilities of internal leadership at NMDC Steel.

Background on the Official Orders

The March 20, 2023, order (No. 4(3)/2022-NMDC) appears to be a foundational notification that outlines procedural norms for temporary charges within NMDC Steel. The latest order dated April 3, 2025, draws from this regulatory framework to assign additional responsibility to Smt. Gaddam.

While such assignments are typically short-term and administrative in nature, they also hint at the internal succession planning and talent readiness within NMDC Steel’s upper management tier.

SEBI Compliance and Governance Disclosure

This disclosure is made as part of SEBI LODR Regulation 30, which mandates listed companies to inform stock exchanges about material events that may impact stakeholder interest. Leadership changes, especially at the Board or Director level, fall squarely within this regulation.

Furthermore, the disclosure references the SEBI circular on timely intimation of such developments to ensure market integrity, shareholder awareness, and public transparency.

This proactive communication by NMDC Steel underscores its commitment to good governance practices and regulatory compliance.

Implications for Stakeholders and Investors

For investors and stakeholders, such changes are crucial as they directly impact the strategic direction and financial stewardship of the company. While this is an interim charge, having a trusted insider assume the responsibility helps in ensuring:

• Continuity in strategic planning

• Stability in investor perception

• Efficient handling of audits and financial declarations

The decision is not expected to have any immediate operational disruption or cause volatility, as the company has not reported any vacancies or changes in its functional operations apart from this temporary rearrangement.

Looking Ahead

The role of Director (Finance) at a company like NMDC Steel involves not only overseeing financial operations but also dealing with public sector investment planning, budgetary controls, profitability tracking, and long-term capital expenditure strategies.

Although the current assignment is temporary, the choice of Smt. Gaddam may be evaluated for future, more permanent roles depending on performance and ministry approvals.

In conclusion, the entrustment of this role to a competent internal leader reflects positively on NMDC Steel’s leadership readiness and governance maturity. Stakeholders are encouraged to remain updated through official filings and follow-ups that may indicate a more permanent restructuring in the leadership portfolio in the months ahead.

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