In a significant corporate update, SAL Steel Limited has officially announced the appointment of Shri Anil Kumar Singh as the Chief Financial Officer (CFO) and a Key Managerial Personnel (KMP) of the company, effective July 01, 2026. This decision was formally approved by the Board of Directors during their meeting held earlier today.

The appointment follows the recommendation of the company’s Nomination and Remuneration Committee and the Audit Committee. It complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as well as the relevant provisions of the Companies Act, 2013.

Shri Anil Kumar Singh is a distinguished Techno-Commercial leader who currently serves as a Whole-Time Director at SAL Steel Limited. He brings over 35 years of extensive executive experience across the steel, automobile, and textile industries. A qualified Cost and Works Accountant (ICWA) and B.Com graduate, he possesses a deep understanding of integrated steel plant management, including induction furnace operations, continuous casting machines, and various mill structures. His career includes leadership roles as the President of Sree Metaliks Limited and Chief Operating Officer (COO) of Tembo Steels Limited in Uganda, Africa.

Incorporated in 2003, SAL Steel Limited is an integrated steel manufacturing company based in Gujarat, India, known for producing sponge iron, ferro alloys, and power generation (40 MW). The company has recently undergone a management transition, with the promoters of Sree Metaliks Limited taking over a controlling stake in the company during the fiscal year 2026. In 2026, the company undertook significant refurbishments, leading to a temporary plant shutdown between September 2025 and February 2026. Recent updates from 2026 include the appointment of new auditors, a change in its registered office address, and securing term loans from Axis Finance Limited to support its operations and ongoing capital expenditure plans.

SAL Steel reported a standalone net loss of ₹1.02 crore for the quarter ended March 31, 2026, marking an improvement compared to the net loss of ₹5.97 crore reported in the corresponding quarter of the previous year. While the company’s operational capacity was affected during the year due to maintenance and management changes, it remains focused on stabilizing its performance through its ongoing capital expenditure programs. According to recent shareholding data, the company’s promoters hold approximately 70.98% of the company, with Sree Metaliks Limited being a major stakeholder.