Jindal Steel's New MD Tackles Leadership Churn, Sets Priorities

“The Jindal Group has people at various locations. If need be, we can call them. We also send people from India overseas. That's the beauty of a large group,” the executive said.

Sharma’s reassurances come at a pivotal moment. Since he stepped down as managing director in 2022, none of his successors completed a full term. Former chief executive Gautam Malhotra quit within nine months of joining, after telling investors within 24 hours of taking charge that he tends to “stick around.”

Analysts following the company have said management continuity is critical for delivering large capital projects on time and maintaining operational discipline, according to the Mint article that first reported the overhaul.

Sharma laid out three immediate priorities: fully using the installed 15.6 million-tonne crude steel capacity, cutting costs, and improving profitability through a better product mix focused on value-added products. He said the company would not “burden our balance sheet with the borrowings” and would fund capital expenditure through internal accruals.

Jindal Steel’s consolidated revenue for the June quarter rose 25% from a year earlier to ₹15,501 crore, helped by stronger steel prices and a better product mix. Net profit slid 44% to ₹844 crore, weighed by higher raw material costs, interest expenses, and depreciation as new capacities came online.

The company’s shares closed 0.4% lower on Friday. The benchmark Sensex fell 0.43% the same day.

Sharma also noted that an advisory board provides guidance during leadership transitions, aiming to support decision-making when key positions change hands.