Who Is Soma Mondal, Featured on Forbes’ Most Powerful Women List

shifa ali, Apoorva Bajj

Jan 9, 2024 — 4 min read

Soma Mondal Success Story

Soma Mondal, a prominent figure in the Indian steel industry, made a significant impact during her tenure at the Steel Authority of India Limited (SAIL), a government company with a value of Rs 41,075 crore. Mondal, known as the "Queen of Steel," has been recognized on Forbes' Most Powerful Women list for her remarkable leadership.

During her impressive 6-year and 3-month journey at SAIL, Mondal displayed exceptional dedication and leadership skills. Progressing through various key roles within the organization, she eventually became the Chairperson, serving in this role for 2 years and 5 months after a tenure as the Director Commercial for 3 years and 11 months.

Born in West Bengal, India, Mondal holds a degree in Electrical Engineering from the National Institute of Technology, Rourkela. With a career spanning over three decades, she has played a pivotal role in transforming SAIL through initiatives focusing on modernization, technological advancements, and sustainable practices.

Beyond her corporate success, Mondal is known for her commitment to social responsibility, actively driving initiatives for community welfare and environmental sustainability. As a role model for women aspiring to leadership in male-dominated industries, Mondal's journey reflects resilience, vision, and the ability to navigate challenges.

Given the nickname "Queen of Steel" for her substantial contributions, Mondal has earned a place on Forbes' "World’s Most Powerful Women" list for 2022 and 2023. Her story stands as an inspiration, proving that gender should never hinder one's ability to reach the pinnacle of success in the dynamic business and industry landscape.

Soma Mondal – Biography

Name	Soma Mondal
Education	Electrical Engineering, National Institute of Technology, Rourkela
Nationality	Indian
Position	Former Chairman, Steel Authority of India Ltd (SAIL)

Soma Mondal - Personal Life
Soma Mondal - Early Life
Soma Mondal - Career

Soma Mondal - NALCO
Soma Mondal - SAIL

Soma Mondal - Awards and Recognitions

Soma Mondal - Personal Life

Soma Mondal was born and raised in a middle-class Bengali family in Bhubaneswar. Her father was an agricultural economist. Mondal’s husband, an engineer and graduate of IIM-Ahmedabad who worked with UTI, passed away in 2005. Despite this loss, Mondal managed to raise her three children with support from her parents and mother-in-law while also maintaining her job.

Soma Mondal - Early Life

Soma Mondal majored in Electrical Engineering at the National Institute of Technology, Rourkela in 1984.

"Chairman Is A Gender-Neutral Word": Soma Mondal, Chairman, SAIL

Soma Mondal - Career

Soma Mondal - NALCO

Having earned a degree in Electrical Engineering from the National Institute of Technology, Rourkela, in 1984, Soma Mondal has more than 35 years of experience in the metal industry. Her career began as a Graduate Engineer Trainee at NALCO, where she steadily advanced to the role of Director (Commercial) in 2014. Mondal dedicated 32 years and 4 months to NALCO, starting her journey in November 1984 and concluding in February 2017, serving in various capacities along the way.

Soma Mondal - SAIL

When she took on the position of Director Commercial in March 2017, her tenure at SAIL officially started. From 2017–18 to 2019–20, Soma Mondal led the way in implementing marketing initiatives, which produced back-to-back best-ever sales volumes. She is in charge of starting an 80,000 million rupee production capacity expansion project.

After taking over at SAIL in January 2021, Mondal led the steel giant to earnings that broke all previous records, tripling to 120 billion rupees in just her first year. In January 2021, Mondal was appointed as the first female chair of the state-run SAIL. In addition to being SAIL's first female functional director, Mondal holds the special honor of being the corporation's first female chairman.

To address the changing demands of the challenging domestic market, Mondal made the necessary adjustments to SAIL's Marketing Organisation Structure on time. She established three verticals Sales, Marketing, and Services, to improve the administration and marketing of the increased volumes after SAIL's modernization and expansion. This was intended to improve the marketing operations' concentration and level of micromanagement.

She has worked in the metals sector for almost thirty years. To support the company's branding initiatives for its numerous products, she played a key role in the introduction of two new labels, "NEX" and "SAIL SeQR," which are used to market TMT bars and PF structural sections, respectively.

Having recognized the necessity of increasing sales via retail channels, she has worked hard to establish a two-tier distribution network. The "Gaon Ki Ore" workshops were held in almost all of the States and Union Territories in India to educate people and harness the enormous potential of rural areas.

On 30 April 2023, she was retired from her position. As of December 6, 2023, SAIL's market capitalization is Rs 41,075 crore.

She was chosen to serve as the head of the Standing Conference of Public Enterprises (SCOPE), which is the body that represents public enterprises under the Central Government, in March 2021.

She is the chairperson of the CII subcommittee on "Safeguard for Tariff and Non-Tariff Barrier" and a member of the CII-National Committee on Steel.

As of May 2023, after retiring from SAIL, Mondal is a member of the Public Enterprise Selection Board.

Soma Mondal - Awards and Recognitions

Soma Mondal secured the 70th position in Forbes' World’s Most Powerful Women list for 2023. Other Indian women on the list include Finance Minister Nirmala Sitharaman, HCL Technologies Chairperson Roshni Nadar Malhotra, and Biocon Chairperson Kiran Mazumdar-Shaw.
Forbes wrote, lauding her “She's responsible for launching an 80,000-million-rupee effort to expand production capacity.”
In 2023, Soma Mondal was recognized as the 'CEO of the Year' at the ETPrime Women Leadership Awards.

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