New Delhi: Steel Authority of India Limited (SAIL) has appointed Mohit Malpani as Executive Director (Finance & Accounts) and Company Secretary, effective October 2026. The appointment follows the superannuation of M.B. Balakrishnan, who served as ED (F&A) and Company Secretary until September 2026.
The Board of Directors approved the appointment, and SAIL disclosed the change to the BSE and NSE in accordance with applicable SEBI regulations.
Mohit Malpani Takes Charge as SAIL Company Secretary
With the new appointment, Mohit Malpani will continue to serve as Executive Director (Finance & Accounts) while taking on additional responsibilities as Company Secretary.
His new responsibilities include:
- Continuing as Executive Director (Finance & Accounts)
- Serving as Company Secretary of SAIL
- Acting as the company’s Compliance Officer
- Discharging compliance-related responsibilities under Regulation 6(1) of the SEBI (LODR) Regulations, 2015
The appointment comes after the retirement of M.B. Balakrishnan at the end of his tenure in September 2026.
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Mohit Malpani’s 35-Year Career With SAIL
Mohit Malpani joined SAIL in August 1991 and has around 35 years of experience in finance and large-scale steel operations.
Over his career, he has held several important finance positions across SAIL’s plants, mines and business units.
Key Positions Held
- Head of Finance – IISCO Steel Plant
- Head of Finance – Durgapur Steel Plant
- Head of Finance – Alloy Steels Plant
- Head of Finance – Jharkhand Group of Mines
- Head of Finance – Bokaro Steel Plant, Collieries & Raw Material Division
- Chief Financial Officer – SAIL-RITES Bengal Wagon Industry Pvt. Ltd. (SRBWIPL)
His experience spans financial management, project appraisal, commercial operations and strategic financial planning across SAIL’s major business operations.
Major Achievements of Mohit Malpani
During his career with SAIL, Malpani has been associated with several major financial and business initiatives.
His key achievements include:
- Playing a central role in the financial appraisal of the 4.0 MTPA Greenfield Expansion Project at IISCO Steel Plant, Burnpur
- Handling the demerger of SAIL’s Raw Material Division
- Structuring the long-term pricing framework between SAIL and Coal India Limited
- Resolving complex, long-standing commercial disputes involving Coal India Limited subsidiaries and the Jharkhand State Electricity Board
- Leading the financial turnaround of SAIL-RITES Bengal Wagon Industry Pvt. Ltd. (SRBWIPL) and restoring the company to financial health
These assignments have given him extensive experience in financial strategy, capital management and commercial negotiations.
Focus on Digital Transformation and Financial Efficiency
Malpani has also been associated with the use of digital transformation in finance, with a focus on improving financial and operational processes.
His approach has focused on:
- Strengthening financial robustness
- Improving operational efficiency
- Supporting sustainable business growth
- Promoting prudent capital management
- Enhancing long-term stakeholder value
- Integrating technology and innovation into finance functions
His experience across SAIL’s operations is expected to support his responsibilities as Executive Director (Finance & Accounts), Company Secretary and Compliance Officer.
SAIL Company Secretary Appointment: Key Details
- Company: Steel Authority of India Limited (SAIL)
- Appointee: Mohit Malpani
- New Role: Executive Director (Finance & Accounts) & Company Secretary
- Additional Role: Compliance Officer
- Effective From: October 2026
- Previous Company Secretary: M.B. Balakrishnan
- Regulation: Regulation 6(1), SEBI (LODR) Regulations, 2015
- Previous Role of Malpani: Executive Director (Finance & Accounts)
About Steel Authority of India Limited (SAIL)
Steel Authority of India Limited (SAIL) is one of India’s major state-owned steel producers under the Ministry of Steel, Government of India. The company operates integrated steel plants and related facilities across the country and is involved in the production and sale of a wide range of steel products.
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