Essar has appointed D Muthukumaran as its Group Chief Financial Officer (Group CFO), bringing an experienced finance leader into the organisation as the Group continues its focus on business transformation and expansion across multiple sectors.
Muthukumaran will be responsible for driving Essar’s overall finance strategy, strengthening financial governance, supporting capital allocation decisions, and enabling value creation across the Group’s businesses. He will work closely with the leadership team to support growth initiatives and build a stronger financial foundation for the organisation’s future plans.
With more than 30 years of experience, Muthukumaran has built expertise across corporate finance, business strategy, mergers and acquisitions, fundraising, capital markets, and financial transformation. His career includes leadership roles across large organisations, where he has been involved in managing complex financial operations and strategic initiatives.
Prior to joining Essar, Muthukumaran served as Chief Financial Officer at Adani Ports and Special Economic Zone. He has also held the position of Chief Financial Officer at ReNew and served as Chief Executive Officer at Aditya Birla Private Equity.
Earlier, he spent over a decade with Aditya Birla Group, leading group corporate finance initiatives. He began his professional career with Deloitte in audit and corporate finance. Muthukumaran is a Chartered Accountant from The Institute of Chartered Accountants of India.
The appointment comes at a time when Essar is expanding investments in areas including green mobility, future fuels, logistics, and digital infrastructure. The Group is working towards strengthening its existing businesses while building new growth platforms aligned with changing market opportunities.
Muthukumaran’s experience in financial leadership, strategic planning, and business transformation is expected to support Essar’s next phase of growth. In his role as Group CFO, he will focus on enhancing financial discipline, strengthening governance frameworks, and supporting sustainable business performance.
Essar has operations across energy, infrastructure, metals and mining, technology, and retail sectors. The Group continues to evolve its portfolio while investing in businesses that support long-term growth and global expansion.
