Steel Authority of India Limited (SAIL) has announced the appointment of Dr. Ashok Kumar Panda as the new Director (Finance) on its Board, effective April 30, 2025. This appointment comes following a formal nomination by the Government of India via the Ministry of Steel, as per the regulations set forth by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dr. Panda's appointment was also approved by the Board of Directors of SAIL.

Dr. Panda, a seasoned finance professional, boasts over 30 years of experience within SAIL. His expertise spans a wide array of financial domains, including financial accounting, costing, budgeting, treasury operations, and strategic management. Throughout his tenure at SAIL, Dr. Panda has earned recognition for his deep domain expertise and his proactive approach to improving the company's financial standing.

Notably, Dr. Panda’s career at SAIL began as a Management Trainee after completing his B.E. in Electrical Engineering. He pursued further studies by completing a Full-Time PGDM in Finance from XIM, Bhubaneswar, and later earned a Ph.D. in Business Finance. His dedication to continuous learning and growth within SAIL has played a significant role in driving the company’s financial success.

Over the years, Dr. Panda has led several major initiatives, such as reducing borrowings by ₹20,000 crore through deleveraging efforts, identifying technical levers for cost reduction, and playing a key role in determining the fair price of rails supplied to Indian Railways. He has also been instrumental in revising SAIL's Fixed Asset Sales Accounting Policy, leading to enhanced financial performance. His proactive leadership has been crucial in implementing cost-saving measures, such as adopting the new tax regime, and optimizing payroll systems.

Dr. Panda’s contributions extend beyond financial management. His leadership has been pivotal in stabilizing centralized payroll systems and introducing e-invoicing within SAIL’s units. His strong analytical skills and ability to foster a culture of innovation have made him a key figure in the company.

In addition to his role at SAIL, Dr. Panda has served as a nominee director on the boards of several joint venture and subsidiary companies of SAIL. His career reflects his commitment to driving efficiency, growth, and innovation across SAIL's operations. Dr. Panda is known for his calm demeanor under pressure and his ability to inspire teams, making him an invaluable asset to SAIL’s leadership.

SAIL’s appointment of Dr. Panda as Director (Finance) marks a new chapter for the company as it continues to focus on sustainable growth, operational excellence, and strategic financial management. The company remains committed to achieving its goals of financial stability, efficiency, and continued leadership in the steel industry.

This latest update reaffirms SAIL’s dedication to strong governance, operational excellence, and its continued contributions to India’s industrial and economic growth.

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