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The company said the appointment is upon the recommendation of the nomination and remuneration committee, subject to approval of members of the company.
Abhyuday Jindal has wide ranging experience in the areas of project management, supply chain systems, and strategic & general management. He is Boston University graduate in Economics and Business Management. He is also the Co-Chair for Federation of Indian Chambers of Commerce & Industry's (FICCI) Steel Committee, Vice President of the Indian Chamber of Commerce, and the CoChair, Advisory Council of the Corrosion Management Division of CII.
Further, the company's board also approved payment of special interim dividend of Re 1 per equity share for the financial year 2022-23 upon successful completion of the merger process and consequent listing of new shares of the merged entity. Accordingly, the board has fixed Wednesday, 26 April 2023 as record date for the same and its payment will be completed by 17 May 2023.
Jindal Stainless is engaged in the business of manufacturing of stainless-steel flat products in austenitic, ferritic, martensitic and duplex grades. The product range includes ferro alloys, stainless steel slabs, Hot rolled coils, plates and sheets, and cold rolled coils and sheets.
The company's consolidated net profit declined 27.8% to Rs 314.30 crore despite of 12% jump in net sales to Rs 6,349.71 crore in Q3 FY23 over Q3 FY22.
The scrip shed 0.08% to end at Rs 261.50 on the BSE.
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