Ashok Kumar Panda has officially taken charge as Director (Finance) of Steel Authority of India Limited (SAIL), marking a significant milestone in his distinguished career with the organisation. His appointment follows his tenure as Executive Director (Finance), where he demonstrated leadership across critical financial functions of the company.
Ashok Kumar Panda, who stepped into his new role on Wednesday, commenced his journey with SAIL in 1992 as a management trainee. Over the past three decades, he has amassed extensive experience, holding diverse roles across SAIL’s various plants and operational units. His rise through the ranks reflects both his deep understanding of the steel sector and his commitment to the company’s financial stewardship.
Throughout his tenure, Panda has been instrumental in driving several high-impact financial strategies and reforms. Notably, he led SAIL’s deleveraging initiatives, focusing on reducing debt levels to strengthen the company’s balance sheet. His work in cost optimisation has contributed to enhancing operational efficiency and improving profitability amid a competitive and challenging market environment.
Panda has also played a pivotal role in shaping key policies, including the company’s rail pricing strategy and fixed asset sales policy. His proactive approach to tax optimisation and his leadership in implementing digital tools, such as e-invoicing and digital invoicing systems across SAIL’s unit, have significantly improved transparency and streamlined financial processes. These initiatives are credited with modernising the company’s financial operations and aligning them with best practices in corporate governance.
Beyond his direct corporate responsibilities, Panda has represented SAIL as a nominee director on the boards of several joint ventures and subsidiary companies. His presence on these boards has reinforced SAIL’s commitment to robust financial oversight and strategic alignment across its extended business ecosystem.
SAIL, a Maharatna public sector enterprise under the Ministry of Steel, is one of India’s largest steel producers and plays a critical role in the country’s industrial and infrastructure development. As the company continues to pursue growth and modernisation in line with national priorities, Panda’s appointment is seen as a step towards reinforcing its financial resilience and strategic agility.
In a statement, SAIL expressed confidence that Panda’s extensive expertise and visionary approach will contribute to further strengthening the company’s financial health and operational excellence.
With the Indian steel industry poised for continued expansion, Panda’s leadership is expected to support SAIL’s strategic objectives, including capacity enhancement, technological upgrades, and sustainable development initiatives. His appointment is anticipated to bring renewed focus on financial discipline, innovation, and value creation for stakeholders.
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