Menon cited his resignation to pursue opportunities outside the Group.

Subsequent to his resignation as CFO, Kiran Menon also ceased as the key managerial personnel of the company with effect from the same date.

JSW Ispat Special Products, in August 2018, was acquired jointly by a consortium of AION Investments Private Limited (AION) and JSW Steel Limited through corporate insolvency resolution process (CIRP) as per Insolvency and Bankruptcy Code 2016 (IBC). JISPL has integrated steel unit at Raigarh and a steel unit in Raipur, both these units are located in State of Chhattisgarh.

The company's consolidated net profit tumbled 82.4% to Rs 0.58 crore on 2.8% fall in net sales to Rs 1,630.68 crore in Q4 FY23 over Q4 FY22.

Shares of JSW Ispat Special Products were up 0.50% to Rs 32.21 on the BSE.

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Net profit of JSW Ispat Special Products declined 82.37% to Rs 0.58 crore in the quarter ended March 2023 as against Rs 3.29 crore during the previous quarter ended March 2022. Sales declined 2.83% to Rs 1630.68 crore in the quarter ended March 2023 as against Rs 1678.21 crore during the previous quarter ended March 2022.

For the full year,net loss reported to Rs 397.76 crore in the year ended March 2023 as against net profit of Rs 1.49 crore during the previous year ended March 2022. Sales declined 14.61% to Rs 5133.06 crore in the year ended March 2023 as against Rs 6011.54 crore during the previous year ended March 2022.

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JSW Ispat Special Products will hold a meeting of the Board of Directors of the Company on 17 May 2023.

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JSW Ispat Special Products announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 17 March 2023 .

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