Kishor Rungta (62), former chairman and managing director of Kochi-based Fertilizers and Chemicals Travancore Limited (FACT), passed away while on a trip to Assam on Saturday. Funeral rites will be held in Surat.
A seasoned public sector professional, Rungta is best remembered for turning around FACT at a time when the company was struggling with mounting losses and a severe financial crunch.
Rungta took charge as CMD of FACT on February 2, 2019, when the PSU was in deep financial distress. Drawing on his strong financial background and hands-on leadership, he steered the company back to profitability within a short span. Under his leadership, FACT posted a record profit of ₹612.99 crore in 2022–23, marking one of the most successful phases in the company’s history.
During his tenure, FACT expanded its market presence to new regions such as West Bengal and Maharashtra, improved operational efficiency, and strengthened corporate governance. He also played a key role in boosting production and turnover, while initiating steps to revive and expand the petrochemical plant.
Rungta brought with him decades of experience across both public and private sectors, spanning industries such as fertilisers, steel, cement, cables and strategic electronics. Before joining FACT, he had served as finance director at Electronics Corporation of India (ECIL) and Hindustan Cables Limited.
In the private sector, he held senior roles at companies including Grasim Industries, the Modi Group, Essar Steel, Ispat Industries, and an MMTC-promoted steel plant in Odisha. Hailing from a well-known industrial family in Rajasthan, he was widely regarded as a professional who proved that public sector undertakings could be run efficiently and profitably.
He stepped down from FACT in February 2024 after completing a five-year tenure as CMD.
He also served as vice-chairman of the Standing Conference of Public Enterprises (SCOPE) and as southern region chairman of the Fertiliser Association of India (FAI).
For his leadership at FACT, Rungta was honoured with the Dhanam Business Professional of the Year award. He had also represented the fertiliser manufacturing sector at international forums, including the United Nations General Assembly in Geneva.
Kishor Rungta’s passing marks the end of a distinguished career that left a lasting impact on India’s public sector landscape, particularly in demonstrating how financial discipline and professional management can revive stressed PSUs.
