HEG Advanced Materials Restructures Subsidiary Leadership

HEG Advanced Materials Limited has confirmed a major leadership transition across its energy subsidiaries, Malana Power Company Limited (MPCL) and AD Hydro Power Limited (ADHPL), following a board meeting on October 26, 2026.

Reader Takeaway: Riju Jhunjhunwala takes over as Chairman; Om Prakash Ajmera is appointed as the new Joint MD & CEO.

What just happened

The board of HEG Advanced Materials approved a series of management appointments effective early November 2026. Shri Riju Jhunjhunwala will assume the role of Chairman and Additional Director for both MPCL and ADHPL starting November 3, 2026. Concurrently, Shri Ravi Jhunjhunwala will relinquish his position as Chairman of both entities but has been re-appointed as the Managing Director of MPCL for a fresh five-year term ending October 31, 2031.

Key Executive Appointments

Shri Om Prakash Ajmera has been promoted to the role of Joint Managing Director and CEO for both MPCL and ADHPL. This appointment is effective November 1, 2026, and spans a five-year tenure. As part of this transition, Mr. Ajmera will step down from his previous role as the Chief Financial Officer of these subsidiaries to focus on his new executive leadership duties.

Governance Context

The company disclosed that the incoming Chairman, Riju Jhunjhunwala, is the son of the outgoing Chairman, Ravi Jhunjhunwala, indicating a strategic transition within the group's leadership lineage. Furthermore, it was clarified that the new Joint MD & CEO, Om Prakash Ajmera, holds no familial relationship with the existing board members, underscoring a professional administrative adjustment.

What to track next

Investors should watch for any subsequent disclosures regarding the backfilling of the Chief Financial Officer position at MPCL and ADHPL, as well as any operational changes that may arise under the new management structure in the upcoming fiscal quarters.