Subsidiary Company Changes
Malana Power Company Limited (MPCL)
The Board of Directors of MPCL, in their meeting held on October 26, 2026, approved the following changes:
1. Appointment of Shri Riju Jhunjhunwala (DIN: 00061060) as an Additional Director (Non-executive) and Chairman of the Board of MPCL effective November 3, 2026, subject to approval of the Board of HEG Advanced Materials Limited.
2. Relinquishment of Chairman position by Shri Ravi Jhunjhunwala (DIN: 00060972) effective November 3, 2026, consequent upon the appointment of Shri Riju Jhunjhunwala as Chairman.
3. Re-appointment of Shri Ravi Jhunjhunwala (DIN: 00060972) as Managing Director of MPCL for a further period of five years commencing from November 1, 2026 to October 31, 2031.
4. Appointment of Shri Om Prakash Ajmera (DIN: 00322834) as Joint Managing Director & CEO of MPCL for a period of five years commencing from November 1, 2026 to October 31, 2031.
5. Relinquishment of Chief Financial Officer position by Shri Om Prakash Ajmera effective November 1, 2026.
AD Hydro Power Limited (ADHPL)
The Board of Directors of ADHPL, in their meeting held on October 26, 2026, approved the following changes:
1. Appointment of Shri Riju Jhunjhunwala (DIN: 00061060) as an Additional Director (Non-executive) and Chairman of the Board of ADHPL effective November 3, 2026.
2. Relinquishment of Chairman position by Shri Ravi Jhunjhunwala (DIN: 00060972) effective November 3, 2026, consequent upon the appointment of Shri Riju Jhunjhunwala as Chairman.
3. Appointment of Shri Om Prakash Ajmera (DIN: 00322834) as Joint Managing Director & CEO of ADHPL for a period of five years commencing from November 1, 2026 to October 31, 2031.
4. Relinquishment of Chief Financial Officer position by Shri Om Prakash Ajmera effective November 1, 2026.
Director Profiles and Relationships
Shri Ravi Jhunjhunwala
- Commerce Graduate (1976 batch) from Hindu College
- Masters in Business Administration (Corporate Finance) from Centre D'etudes Industrielles (CEI), Geneva (1980-81)
- Former Chairman, Managing Director & CEO of HEG Limited (now HEG Advanced Materials Limited)
- Associated with LNJ Bhilwara Group since 1979
- Chairman & Managing Director of Malana Power Company Limited since 2001
- Currently Chairman, Managing Director & CEO of HEG Graphite Limited (now renamed as HEG Limited)
- Father of Shri Riju Jhunjhunwala
Shri Riju Jhunjhunwala
- Bachelor's Degree in Science with Business & Management Studies from University of Bradford, United Kingdom
- Former Managing Director of Bhilwara Energy Limited (merged with HEG Advanced Materials Limited)
- Currently Chairman, Managing Director & CEO of RSWM Limited and HEG Advanced Materials Limited
- Former Vice Chairman of HEG Advanced Materials Limited
- Former Joint Managing Director/Managing Director of RSWM Limited from October 23, 2003 to April 29, 2009
- Extensive leadership experience in textiles, power generation, and industrial manufacturing
- Son of Shri Ravi Jhunjhunwala
Shri Om Prakash Ajmera
- Fellow member of The Institute of Chartered Accountants of India
- Associate member of The Institute of Company Secretaries of India
- Associated with LNJ Bhilwara Group for more than four decades
- Experience in restructuring, corporate finance, merger & acquisition
- Previously served as Executive Director, CEO & CFO of MPCL and Director & CFO of ADHPL
- Currently Non-executive Director of HEG Advanced Materials Limited and Group CFO
- Not related to any of the Directors of the Company