MOIL appoints Ajit Kumar Saxena as chairman, MD

Prior to this assignment, Saxena held the position of director (operations) at RINL-Vishakhapatnam Steel Plant.

Ajit Kumar Saxena has been appointed as the chairman-cum-managing director of MOIL. Saxena will assume the charge of the post till the date of his superannuation i.e. 31 December 2025, or until further orders, whichever is earlier.

Saxena has 36 years' experience in steel sector with wide experience in technical, operational and project management areas. Prior to this assignment, Shri Saxena held the position of director (Operations) at RINL-Vishakhapatnam Steel Plant. He started his career as a management trainee (Technical) in Steel Authority of India Ltd (SAIL) in 1986 and thereafter, held various positions during his long tenure in SAIL such as chief general manager, Mills, IISCO, Burnpur and general manager, Bhilai Steel Plant, etc.

Saxena holds B. Tech degree from Institute of Technology, Banaras Hindu University in Metallurgy and has also acquired an MBA. He is not related to any director of the company.

MOIL is one of the largest manganese ore producers of the country. The company's consolidated net profit declined 7.4% to Rs 51.38 crore despite of 4.5% rise in net sales to Rs 267.70 crore in Q2 FY23 over Q2 FY22.

MOIL shed 0.44% to Rs 158.90 on the BSE.

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