Jindal Stainless Appoints Kunjal Mehta as CFO; PT Glory Metal Indonesia Reclassified as Associate Effective July 1

Jindal Stainless Appoints Kunjal Mehta as CFO; PT Glory Metal Indonesia Reclassified as Associate Effective July 1​

Jindal Stainless Ltd announced key changes in its senior management and corporate structure following a Board meeting held on June 25, 2026. The company approved the appointment of Mr. Kunjal Mehta as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP). Furthermore, the Board decided to re-classify PT Glory Metal Indonesia (PTGMI) from a subsidiary to an associate effective July 1, 2026.

Mr. Kunjal Mehta has been appointed as CFO of Jindal Stainless Ltd, with the role taking effect from June 25, 2026. Mr. Mehta is a qualified Chartered Accountant and Cost Accountant, bringing over 25 years of experience across various sectors including power, steel, ports & logistics, technology, and ITES. Prior to joining Jindal Stainless Limited, he served as Chief Financial Officer at Adani Energy Solutions Limited. His professional expertise covers corporate finance, treasury, working capital management, financial planning and analysis, governance, assurance, risk management, and strategic finance functions.

Concurrently, the Board noted that Mr. Tarun Kumar Khulbe, who is a CEO and Whole-time Director of the Company, will cease to hold the additional responsibility of CFO. This change comes as he continues in his capacity as CEO and Whole-time Director of Jindal Stainless Limited.

The company also approved the re-classification of PT Glory Metal Indonesia (PTGMI) from a subsidiary to an associate, effective July 1, 2026. The decision follows a history involving the company's joint venture with PTGMI. Initially classified as an 'associate,' PTGMI was later elevated to a subsidiary status after governance modifications were approved on June 25, 2025. This enhanced oversight was implemented while the project was still in its implementation phase.

Following the successful commissioning of the stainless steel melt shop by PTGMI in March 2026, and a mutual agreement between the parties, the company is restoring the original governance framework stipulated under the Collaboration Agreement. The change limits itself to the governance structure of PTGMI and does not alter Jindal Stainless’s shareholding interest or economic rights related to the entity.

JSL Stock Price Movement​

Shares of Jindal Stainless Limited are climbing slightly in live trading, hitting ₹696 at 2:09 PM after gaining 0.14%. The equity has seen substantial activity so far, with over 242,565 shares being traded during this session.