Sunflag Iron & Steel Company Limited, a leading player in the steel industry, has officially announced the resignation of its Chief Operating Officer (COO), Mr. Dattatraya D. Khonde. The company, in a regulatory disclosure filed with the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on February 15, 2025, stated that Khonde’s resignation is due to personal reasons. His departure will be effective from the close of business hours on February 15, 2025.

Khonde, who has served Sunflag Iron & Steel for 12 years, expressed deep gratitude for his tenure at the company. In his resignation letter dated January 13, 2025, he highlighted his appreciation for the opportunities provided to him, as well as the strong collaboration he experienced with his team. While he did not specify his next professional move, he mentioned his decision to pursue new challenges and opportunities.

The resignation has been disclosed in compliance with Regulation 30 of SEBI’s (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates the reporting of significant corporate changes. The company has also submitted the required disclosure format, confirming that no immediate successor has been appointed for the COO position.

As per the official filing, Khonde’s resignation was voluntary, and there were no disputes or governance-related issues involved. His departure marks a notable transition in Sunflag Iron & Steel’s senior management team, and the company has yet to announce its plans for leadership succession.

Sunflag Iron & Steel remains a key player in the Indian steel manufacturing sector, and investors, stakeholders, and employees will closely watch for further updates regarding any new leadership appointments. This resignation comes at a time when the steel industry is witnessing significant market fluctuations and evolving regulatory frameworks, making leadership stability a critical factor for the company’s future growth.

With this leadership change, Sunflag Iron & Steel is expected to continue its commitment to operational excellence and corporate governance while ensuring smooth business continuity. The company has assured stakeholders that its strategic vision remains intact, and operations will continue without disruption.

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