Mr. S.K. Roongta
Mr. S.K. Roongta, is an Electrical Engineering graduate from BITS, Pilani and PG Diploma in Business Management (International Trade) from IIFT, New Delhi- Gold Medallist. He is regarded as one of the prominent experts on Strategy and turnaround in Manufacturing Industry in India. Known for this strategic acumen, Mr. Roongta is the key person referred to by the Industry as well as Government for various issues related to mining, metals and power sectors and has been part of various Government and industry forums and expert panels.
He joined Steel Authority of India Ltd (SAIL) as Executive (Marketing) in 1972 and rose to become its Chairman (2006-2010). His astute vision of the micro aspect of the business, global and strategic vision helped him transform SAIL from a position of just a large steel PSU to a steel company admired throughout the world. At the peak of the global meltdown in 2008-09, his key initiatives and deft handling helped SAIL become one of the few companies to emerge stronger from the crisis. The post meltdown performance of SAIL was hailed as a breakthrough achievement by any Indian corporate. Under his leadership SAIL was adjudged by World Steel Dynamics, USA as the 2nd best steel company globally (next to POSCO).
In June 2011, Mr. Roongta joined Vedanta Ltd- a globally diversified resource company as its Managing Director, Aluminium and Power Business (Turnover of $ 3 billion). During his four year stint with the group (till May 2015), he could bring about significant improvements in asset utilization, financial and operational performance and took strategic steps for long term raw materials security. He is presently non-executive Chairman – Bharat Aluminium Company Ltd (BALCO) and Talwandi Sabo Power Ltd (TSPL),both Vedanta group companies. He also serves as Principal Advisor, Essar Steel India Ltd.
He serves as Independent Director on the Boards of ACC Limited, Jubilant Industries Limited (JIL) and Jubilant Agri and Consumer Products Limited and SPML Infra Ld. He had earlier served as Independent Director on the Boards of Axis Bank Ltd, Hindustan Petroleum Corpn Ltd (HPCL), the Shipping Corporation of India Ltd (SCI) and Neyveli Lignite Corpn Ltd (NLC).
His report as Chairman of “Panel of Experts on reforms in the Central PSEs”, constituted by the Planning Commission (2010-2011), widely known as the ‘Roongta Committee Report’, is taken as the benchmark for CPSE reforms. He was also a member of the Steering Committee on Industry for the 12th Five Year Plan (2011-2013) and Chairman of one of the working groups on ‘Reforming Role of CPSEs’. He also served as a member of the committee formed by the Ministry of Corporate Affairs (2011), to formulate a policy document on Corporate Governance.
He served as Chairman, Board of Governors, IIT Bhubneshwar (2012-2015) and is a Member of Board of Management, JKL University, Jaipur.
He holds several important positions in various apex chambers, being Chair of Steel and Metal committee of FICCI, Member of the Managing Committee of PHD Chamber of Commerce & Industry and Chair of National Expert Committee on Minerals and Metals of the Indian Chamber of Commerce (ICC). He is also a fellow member of the All India Management Association.
He is recipient of several awards and accolades including SCOPE Award for Excellence and Outstanding Contribution to the Public Sector Management- Individual Category and Alumnus of the Year Award- IIFT.