JTL Industries Limited, a prominent player in the manufacturing sector, has announced significant changes in its leadership and strategic partnerships. The company's board meeting on September 11 resulted in key decisions that are set to shape its future direction.

Leadership Transition in Finance Department

JTL Industries has undergone a change in its top financial leadership. Mr. Atul Garg has stepped down from his position as Chief Financial Officer (CFO), effective from the close of business hours on September 11. In a swift transition, the company has appointed Mr. Naveen Kumar Laroiya as the new CFO, taking over from Mr. Garg on the same day.

Mr. Laroiya brings a wealth of experience to his new role, with a career spanning 35 years across diverse geographies including India, Nepal, and Egypt. His expertise covers a wide range of sectors, including manufacturing, financial services, and multinational corporate environments. Throughout his career, Mr. Laroiya has been associated with prominent groups such as Aditya Birla, Paul Merchants, and Dhunseri Petrochem.

The new CFO's skill set is particularly noteworthy, encompassing areas such as:

• Corporate finance
• Audit and compliance
• Management Information Systems (MIS)
• Business restructuring
• Liaison with regulatory bodies

Mr. Laroiya's appointment was made pursuant to Section 203 of the Companies Act, 2013, and upon the recommendation of the Nomination and Remuneration Committee of the company.

Strategic Partnership for E-Auction Participation

In a move that signals JTL Industries' ambition for growth and expansion, the board has approved entering into a Joint Bidding Agreement with Nalwa Steel and Power Limited. This partnership aims to facilitate joint participation in an upcoming e-auction organized by the Securities and Exchange Board of India (SEBI).

Key details of the agreement include:

This strategic collaboration could potentially open new avenues for JTL Industries, leveraging the combined strengths of both companies in the auction process.

Implications for JTL Industries

These developments reflect JTL Industries' proactive approach to both internal management and external opportunities. The appointment of Mr. Laroiya as CFO, with his extensive experience in finance and commercial operations, may bring fresh perspectives to the company's financial strategies. Meanwhile, the joint bidding agreement with Nalwa Steel and Power Limited demonstrates JTL's willingness to explore collaborative ventures that could enhance its market position.

As JTL Industries navigates these changes, stakeholders will be keenly watching how these moves translate into the company's operational and financial performance in the coming quarters.

The board meeting that resulted in these decisions commenced at 02:00 PM and concluded at 07:00 PM on September 11, marking a significant day in JTL Industries' corporate calendar.

JTL Industries Limited, a prominent player in the steel industry, has announced significant changes to its leadership structure and the introduction of an employee stock option scheme. The company's Board of Directors made these decisions during a meeting held on August 27, 2025.

Leadership Reappointments

The board has approved the reappointment of several key executives:

• Mr. Madan Mohan has been reappointed as Managing Director. With over 35 years of experience in the steel industry, Mr. Mohan is recognized for his expertise and commitment to driving growth and profitability.
• Mr. Dhruv Singla and Mr. Pranav Singla have both been reappointed as Executive Directors (Whole-time Directors) for a period of five years, from August 18, 2026, to August 17, 2031. Their reappointments are subject to shareholder approval at the upcoming Annual General Meeting (AGM).

New Addition to the Board

In a move to strengthen its leadership team, JTL Industries has appointed Mr. Jagdeep Kumar Goel as an Additional Director in a non-executive capacity. Mr. Goel brings over 30 years of experience in taxation, finance, and legal affairs, having served in senior roles within the Income Tax Department, including as Principal Commissioner and Director in the Central Board of Direct Taxes (CBDT).

Employee Stock Option Scheme

The board has approved the JTL Industries Limited Employees Stock Option Scheme 2025, which will extend to employees of subsidiary companies as well. This initiative aims to align employee interests with those of the company and its shareholders.

Annual General Meeting and Dividend

The company has scheduled its 34th Annual General Meeting for September 23, 2025, to be held via video conferencing. The record date for dividend purposes has been set as September 12, 2025, subject to shareholder approval at the AGM.

Corporate Governance

To ensure transparency and compliance, the board has appointed M/s S.V. Associates, Practicing Company Secretaries, as scrutinizer for the voting process at the upcoming AGM.

These strategic decisions reflect JTL Industries' commitment to strong leadership, employee engagement, and corporate governance. The reappointment of experienced executives and the addition of Mr. Goel to the board are expected to contribute to the company's continued growth and success in the steel industry.

Shareholders will have the opportunity to vote on these appointments and the employee stock option scheme at the forthcoming AGM. As JTL Industries continues to evolve its leadership structure and employee incentive programs, it positions itself for sustained growth in the competitive steel market.