HEG Advanced Materials Limited has announced significant changes in the leadership of its subsidiaries, Malana Power Company Limited (MPCL) and AD Hydro Power Limited (ADHPL). Key appointments include Shri Riju Jhunjhunwala as Additional Director and Chairman for both subsidiaries, effective November 3, 2026. Shri Ravi Jhunjhunwala relinquishes his Chairman role but is reappointed as Managing Director for a five-year term. Shri Om Prakash Ajmera is appointed as Joint Managing Director & CEO for a similar term, while relinquishing his CFO position.
Leadership Transitions in Subsidiaries
HEG Advanced Materials Limited (formerly HEG Limited) has disclosed substantial changes in the directorial and management roles within its key subsidiaries, Malana Power Company Limited (MPCL) and AD Hydro Power Limited (ADHPL). These changes, approved by the Board of Directors on October 26, 2026, are effective from early November 2026.
Key Appointments and Reappointments
Malana Power Company Limited (MPCL)
- Shri Riju Jhunjhunwala has been appointed as an Additional Director (Non-executive) and Chairman, effective November 3, 2026, subject to HEG Advanced Materials Limited Board approval.
- Shri Ravi Jhunjhunwala has relinquished his position as Chairman of MPCL.
- Shri Ravi Jhunjhunwala has been reappointed as Managing Director of MPCL for a further period of five years, from November 1, 2026, to October 31, 2031.
- Shri Om Prakash Ajmera has been appointed as Joint Managing Director & CEO of MPCL for a five-year term, from November 1, 2026, to October 31, 2031.
- Shri Om Prakash Ajmera has relinquished his position as Chief Financial Officer of MPCL, effective November 1, 2026.
AD Hydro Power Limited (ADHPL)
- Shri Riju Jhunjhunwala has been appointed as an Additional Director (Non-executive) and Chairman of ADHPL, effective November 3, 2026.
- Shri Ravi Jhunjhunwala has relinquished his position as Chairman of ADHPL.
- Shri Om Prakash Ajmera has been appointed as Joint Managing Director & CEO of ADHPL for a five-year term, from November 1, 2026, to October 31, 2031.
- Shri Om Prakash Ajmera has relinquished his position as Chief Financial Officer of ADHPL, effective November 1, 2026.
Director Relationships
The disclosure also clarifies relationships between directors. Shri Ravi Jhunjhunwala is the father of Shri Riju Jhunjhunwala. Shri Om Prakash Ajmera is not related to any of the Directors of the Company and is currently serving as a Non-executive Director of HEG Advanced Materials Limited and Group CFO.
Background Information
Shri Riju Jhunjhunwala brings a strong academic background with a Bachelor’s Degree in Science (Business & Management Studies) and extensive experience in business management. Shri Ravi Jhunjhunwala has a long-standing association with the LNJ Bhilwara Group since 1979. Shri Om Prakash Ajmera is a Fellow member of the Institute of Chartered Accountants of India and an Associate member of the Institute of Company Secretaries of India, with over four decades of experience in various business segments.
Source: BSE
