Jindal Stainless Management

Management criteria checks 3/4

Jindal Stainless' CEO is Tarun Khulbe, appointed in Jan 2024, has a tenure of less than a year. total yearly compensation is ₹24.92M, comprised of 93.4% salary and 6.6% bonuses, including company stock and options. directly owns 0.008% of the company’s shares, worth ₹50.78M. The average tenure of the management team and the board of directors is 1.3 years and 4.1 years respectively.

Key information

Tarun Khulbe

Chief executive officer

₹24.9m

Total compensation

CEO salary percentage	93.4%
CEO tenure	less than a year
CEO ownership	0.008%
Management average tenure	1.3yrs
Board average tenure	4.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tarun Khulbe's remuneration changed compared to Jindal Stainless's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	₹30b
Sep 30 2023	n/a	n/a	₹28b
Jun 30 2023	n/a	n/a	₹24b
Mar 31 2023	₹25m	₹23m	₹21b
Dec 31 2022	n/a	n/a	₹15b
Sep 30 2022	n/a	n/a	₹17b
Jun 30 2022	n/a	n/a	₹19b
Mar 31 2022	₹21m	₹20m	₹31b
Dec 31 2021	n/a	n/a	₹14b
Sep 30 2021	n/a	n/a	₹12b
Jun 30 2021	n/a	n/a	₹8b
Mar 31 2021	₹18m	₹17m	₹4b
Dec 31 2020	n/a	n/a	₹651m
Sep 30 2020	n/a	n/a	-₹532m
Jun 30 2020	n/a	n/a	-₹971m
Mar 31 2020	₹16m	₹15m	₹713m
Dec 31 2019	n/a	n/a	₹2b
Sep 30 2019	n/a	n/a	₹2b
Jun 30 2019	n/a	n/a	₹794m
Mar 31 2019	₹14m	₹12m	₹1b

Compensation vs Market: Tarun's total compensation ($USD298.93K) is below average for companies of similar size in the Indian market ($USD572.52K).

Compensation vs Earnings: Tarun's compensation has been consistent with company performance over the past year.

CEO

Tarun Khulbe (58 yo)

less than a year

Tenure

₹24,921,000

Compensation

Mr. Tarun Kumar Khulbe has been Whole-Time Director at Jindal Stainless Limited since May 15, 2018 and serves as its Chief Executive Officer since January 2024. Mr. Khulbe served as Senior Vice President o...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Tarun Khulbe	CEO & Whole Time Director	less than a year	₹24.92m	0.0084% ₹ 50.8m
Anurag Mantri	Group CFO & Executive Director	7.3yrs	₹29.92m	no data
Jagmohan Sood	COO & Additional Whole-Time Director	less than a year	₹23.30m	no data
Navneet Raghuvanshi	Head of Legal	6.1yrs	₹11.30m	no data
Deepika Jindal	Chairperson of Jindal Stainless Foundation	no data	no data	0.39% ₹ 2.3b
Abhyuday Jindal	Executive Director	less than a year	₹117.50m	3.05% ₹ 18.4b
Shreya Sharma	Head of Investor Relations	no data	no data	no data
Rajeev Garg	Head of Sales	2.7yrs	no data	0.0019% ₹ 11.4m
Sushil Baveja	Chief Human Resource Officer	no data	no data	no data
Kalyan Bhattacherjee	Chief Sustainability Officer	no data	no data	no data
Vijay Bindlish	Senior VP & Unit Head of Hisar	1.3yrs	no data	no data
Deepak Agrawal	Senior VP & Unit Head of Jajpur	1.3yrs	no data	no data

1.3yrs

Average Tenure

57yo

Average Age

Experienced Management: 532508's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Tarun Khulbe	CEO & Whole Time Director	6yrs	₹24.92m	0.0084% ₹ 50.8m
Anurag Mantri	Group CFO & Executive Director	1.3yrs	₹29.92m	no data
Jagmohan Sood	COO & Additional Whole-Time Director	less than a year	₹23.30m	no data
Abhyuday Jindal	Executive Director	6.8yrs	₹117.50m	3.05% ₹ 18.4b
Ratan Jindal	Chairman	20.8yrs	no data	0.0050% ₹ 30.2m
Jayaram Easwaran	Independent Non-Executive Director	4.8yrs	₹550.00k	0.00012% ₹ 725.5k
Savitri Jindal	Chairperson Emeritus	10.6yrs	no data	0.032% ₹ 191.8m
Rajeev Uberoi	Additional Non-Executive Independent Director	1.5yrs	₹200.00k	no data
Arti Luniya	Non-Executive Independent Director	4.5yrs	₹460.00k	no data
Parveen Malhotra	Non-Executive Nominee Director	3.7yrs	₹480.00k	no data
Ajay Mankotia	Additional Non-Executive Independent Director	less than a year	no data	no data
Shruti Shrivastava	Independent Director	1.3yrs	₹100.00k	no data

4.1yrs

Average Tenure

64yo

Average Age

Experienced Board: 532508's board of directors are considered experienced (4.1 years average tenure).

Jindal Stainless Management

Management criteria checks 3/4

Key information

Recent management updates

Jindal Stainless Elevates Tarun Khulbe as Chief Executive Officer

Jindal Stainless Elevates Tarun Khulbe as Chief Executive Officer

Jindal Stainless Limited, Annual General Meeting, Sep 22, 2023

Jindal Stainless Limited Announces Resignation of Bhaswati Mukherjee as Independent Director

Less than half of directors are independent

Jindal Stainless Limited Announces Cessation of Suman Jyoti Khaitan as Independent Director

Recent updates

Jindal Stainless Limited announced that it expects to receive INR 540 million in funding

Jindal Stainless Limited (NSEI:JSL) agreed to acquire a 54% stake in Chromeni Steels Private Limited for INR 13.4 billion

Now 21% overvalued after recent price rise

Now 22% overvalued after recent price rise

Now 20% overvalued after recent price rise

Jindal Stainless Elevates Tarun Khulbe as Chief Executive Officer

Jindal Stainless Elevates Tarun Khulbe as Chief Executive Officer

Third quarter 2024 earnings: EPS and revenues miss analyst expectations

Jindal Stainless Limited to Report Q3, 2024 Results on Jan 18, 2024

Price target increased by 7.0% to ₹573

Jindal Stainless Limited (NSEI:JSL) agreed to acquire Rabirun Vinimay Pvt. Ltd for INR 960 million.

Price target increased by 8.9% to ₹505

Jindal Stainless Limited Approves Interim Dividend for the Financial Year 2023-2024, Payable on or before November 17, 2023

Second quarter 2024 earnings: EPS and revenues miss analyst expectations

Jindal Stainless Limited Approves Final Dividend for the Financial Year Ended 31 March, 2023

Upcoming dividend of ₹2.50 per share at 0.3% yield

Jindal Stainless Limited, Annual General Meeting, Sep 22, 2023

Price target increased by 10% to ₹430

First quarter 2024 earnings released: EPS: ₹9.06 (vs ₹6.11 in 1Q 2023)

Jindal Stainless Limited Announces Resignation of Bhaswati Mukherjee as Independent Director

Price target increased by 12% to ₹332

Jindal Stainless Limited (NSEI:JSL) acquired Rathi Super Steel Limited for INR 2.1 billion.

Jindal Stainless Limited (NSEI:JSL) acquired Sungai Lestari Investment Pte. Ltd.

Full year 2023 earnings: EPS and revenues exceed analyst expectations

Inaugural dividend of ₹1.00 per share

Investor sentiment improves as stock rises 17%

Price target increased by 7.2% to ₹278

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Jindal Stainless Limited to Report Q3, 2023 Results on Jan 23, 2023

Price target increased to ₹269

Investor sentiment improved over the past week

Price target increased to ₹252

Investor sentiment improved over the past week

Price target increased to ₹232

Less than half of directors are independent

Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Jindal Stainless Limited Announces Cessation of Suman Jyoti Khaitan as Independent Director

Less than half of directors are independent

Jindal Stainless Limited to Report Q3, 2023 Results on Feb 14, 2023

Jindal Stainless Limited, Annual General Meeting, Sep 30, 2022

Consensus EPS estimates fall by 22%

Jindal Stainless Limited (BSE:532508) agreed to acquire the remaining 74% stake in Jindal United Steel Limited from OPJ Steel Trading Private Limited for INR 9.6 billion.

Jindal Stainless Limited (BSE:532508) agreed to acquire Jindal United Steel Limited from OPJ Steel Trading Private Limited for INR 9.58 billion

First quarter 2023 earnings released: EPS: ₹6.11 (vs ₹6.21 in 1Q 2022)

Jindal Stainless Limited to Report Q1, 2023 Results on Jul 25, 2022

Price target decreased to ₹219

Investor sentiment deteriorated over the past week

Investor sentiment deteriorated over the past week

Full year 2022 earnings: EPS and revenues exceed analyst expectations

Price target increased to ₹271

Consensus revenue estimates increase by 18%

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Jindal Stainless Limited to Report Q3, 2022 Results on Feb 07, 2022

Investor sentiment improved over the past week

Second quarter 2022 earnings released: EPS ₹8.27 (vs ₹1.68 in 2Q 2021)

Investor sentiment deteriorated over the past week

Consensus EPS estimates increase to ₹16.30

Price target increased to ₹155

First quarter 2022 earnings released: EPS ₹6.21 (vs ₹2.50 loss in 1Q 2021)

Investor sentiment improved over the past week

Investor sentiment improved over the past week

Investor sentiment improved over the past week

Consensus forecasts updated

Full year 2021 earnings released: EPS ₹8.60 (vs ₹1.48 in FY 2020)

Investor sentiment improved over the past week

Price target raised to ₹104

Third quarter 2021 earnings released: EPS ₹3.49 (vs ₹1.06 in 3Q 2020)

Revenue and earnings miss expectations

New 90-day high: ₹94.50