NMDC Limited has announced the appointment of Shri Anurag Kapil as Chief Financial Officer and Key Managerial Person, effective 31st March 2026. The appointment follows an official order from the Ministry of Steel, Government of India, marking a significant leadership transition for the state-owned mining enterprise.

Government Order and Appointment Details

The appointment stems from Ministry of Steel, Government of India's Order No. S-14013/1/2024-BLA dated 18th March 2026. Under this order, Shri Anurag Kapil has been designated as Director (Finance) in NMDC Limited for a five-year period from his assumption of charge on 31st March 2026, or until further orders, whichever is earlier.

Leadership Transition

With Kapil's appointment, Smt. G Anupama, Chief General Manager (Finance), will cease to be CFO and Key Managerial Person of the company effective 31st March 2026. Anupama had been serving as interim Whole Time Chief Financial Officer following an earlier board decision communicated in July 2025.

Professional Background

Shri Anurag Kapil brings extensive experience to his new role as an Indian Railway Accounts Service (IRAS) officer of the 1998 batch. His professional journey spans over 26 years across Indian Railways and Central Public Sector Undertakings, providing him with comprehensive expertise in public sector financial management.

Educational Credentials

Kapil's academic background includes:

• Alumni of Hans Raj College
• Graduate from Faculty of Management Studies, University of Delhi
• Master's in Public Affairs from University of Minnesota, USA

Key Professional Experience

Throughout his career, Kapil has held several strategic positions that have shaped his expertise in financial management and policy formulation:

Areas of Expertise

Kapil's professional expertise encompasses multiple critical areas relevant to his new role at NMDC:

• Policy formulation and analysis
• Financial management and strategic planning
• PSU governance and disinvestment initiatives
• Capital restructuring and project financing
• Public-Private Partnership (PPP) models
• Multimodal logistics and operational excellence

Strategic Impact at CONCOR

During his tenure as Director (Finance) at CONCOR under additional charge, Kapil demonstrated his capability in driving financial growth and operational excellence. He played a crucial role in strategic diversification initiatives, particularly in expanding the company's multimodal logistics capabilities.

Regulatory Compliance

The appointment announcement complies with Regulation 30 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. NMDC has provided comprehensive details as required under SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023, ensuring full transparency regarding the management change.

NMDC Steel Limited has announced a significant leadership appointment with Shri Anurag Kapil joining the Board as Director (Finance), effective March 31st, 2026. The appointment comes through an official order from the Ministry of Steel, Government of India, marking a strategic addition to the company's executive leadership.

Appointment Details and Tenure

The appointment has been formalized through Ministry of Steel Order No. S-14013/1/2024-BLA dated March 18th, 2026, read with earlier Order dated March 20th, 2023. Shri Kapil will serve as Director (Finance) for a period of five years from his assumption of charge on March 31st, 2026, or until further orders from the government, whichever occurs earlier.

Professional Background and Experience

Shri Anurag Kapil brings extensive experience as an Indian Railway Accounts Service (IRAS) officer from the 1998 batch, with 26 years of versatile experience spanning Indian Railways and Central Public Sector Undertakings. His career demonstrates a blend of operational expertise and strategic vision across critical sectors.

His educational qualifications include Chemistry Honours from Hans Raj College, Masters in Business Administration in Finance & Marketing from Faculty of Management Studies at University of Delhi, and Masters in Public Affairs from University of Minnesota, USA.

Key Career Positions and Achievements

Throughout his career, Shri Kapil has held various significant positions in Indian Railways, including two tenures as Sr. DFM, FA&CAO/Traffic, FA&CAO/Finance & General, and Deputy Chief Vigilance Officer. He served as Director in the Ministry of Coal from 2013-17, handling various important assignments.

His most recent role was Executive Director Finance (Expenditure) in Railway Board, where he managed policy matters of Ministry of Railways in finance, handled Finance Expenditure of Indian Railways, and oversaw Planning, Concurrence, Productivity Analysis & Monitoring of Railway projects. He empowered Railway PSU governance, including Navratna status of IRCTC & IRFC, capital restructuring of RITES & CONCOR.

Notable Accomplishments at CONCOR

As Director (Finance) CONCOR (Additional Charge), Shri Kapil achieved several milestones:

• Delivered highest-ever container throughput with 8% year-on-year growth
• Achieved highest ever Revenue and PAT (Profit After Tax)
• Facilitated highest dividend with 1:4 bonus share distribution
• Increased Authorized Capital to Rs 600 crore from Rs 400 crore
• Executed highest ever CAPEX
• Spearheaded diversification from Rail Logistics to Multimodal Logistics

International Experience and Board Positions

Shri Kapil has represented India at various international conferences including China Mining-2013, Joint Working Group for Heavy Engineering in Czech Republic, and Clean Coal Technology conferences in Australia. He has conducted road shows for Coal India Ltd disinvestment with Foreign Institutional Investors in USA and London.

He has served as Government Nominee Director on boards of several CPSEs including Singareni Colleries Co. Ltd., Mineral Exploration Corporation Ltd., Railway Energy Management Company Ltd., and Konkan Railway Corporation Ltd. He was awarded the National Award for Outstanding & Meritorious Service in 2009 by the Ministry of Railways, Government of India.

Board Composition Update

Following this appointment, NMDC Steel Limited's Board now comprises directors across three categories: five Functional Directors including Shri Kapil, two Government Nominee Directors, and Independent Directors. The updated board structure includes Chairman & Managing Director Shri Amitava Mukherjee, Director (Technical) Shri Vinay Kumar, Director (Production) Shri Joydeep Dasgupta, and Director (Personnel) Shri Krishna Kumar Thakur.

Regulatory Compliance

The appointment has been made in compliance with Regulation 30 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Formal intimation has been provided to BSE Limited (Scrip Code: 543768), National Stock Exchange of India Limited (Security ID: NSLNISP), and The Calcutta Stock Exchange Limited (Scrip ID: 74920). The company has confirmed that none of the other Directors are related to Shri Kapil, and he is not debarred from holding directorial positions by SEBI or any other regulatory authority.