Regulatory Disclosure Details

Disclosure Type: Press Release/Media Release under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Key Appointments and Changes

The Boards of Malana Power Company Limited (MPCL) and AD Hydropower Limited (ADHPL) have appointed Mr. Riju Jhunjhunwala as Chairman of the Board of each company. These appointments are subject to approval of the Board of HEG Advanced Materials Limited.

Meeting Details

The appointments were approved at the respective Board meetings held on October 26, 2026, following the recommendation of the Nomination and Remuneration Committee of MPCL.

Continuity of Leadership

Mr. Ravi Jhunjhunwala will continue to serve as Managing Director of MPCL and will remain on both Boards, providing continuity and guidance.

Corporate Structure and Ownership

Both MPCL and ADHPL are part of the LNJ Bhilwara Group through HEG Advanced Materials Limited. ADHPL is a subsidiary of Malana Power Company Limited.

Operational Capacity Details

  • Malana Power Company Limited (MPCL): Operates the 86 MW Malana Hydroelectric Project, a run-of-river plant in Kullu district, Himachal Pradesh. The project was constructed in record 30 months (construction began January 1999, commissioned 2001) and generates an average of 350 GWh of electricity annually.
  • AD Hydro Power Limited (ADHPL): Operates the 192 MW Allain Duhangan Hydroelectric Project located near Manali in Kullu District, Himachal Pradesh. This run-of-the-river project harnesses the hydrologic potential of the Allain and Duhangan rivulets and was commissioned in September 2010.

Management Background

Mr. Riju Jhunjhunwala is currently the Chairman, Managing Director and CEO of HEG Advanced Materials Limited, which houses the LNJ Bhilwara Group's advanced battery materials, battery energy solutions and green power businesses.

Strategic Rationale

The appointment aligns the leadership of the Group's hydropower companies with HEG Advanced Materials, strengthening their role within HEG Advanced Materials' green power platform.

Management Commentary

Mr. Riju Jhunjhunwala emphasized that hydropower provides reliable, renewable generation that will become more valuable as India adds more solar and wind capacity. Mr. Ravi Jhunjhunwala noted that both projects were built in challenging terrain and have delivered reliable clean power for years.

Company Overview

HEG Advanced Materials Ltd. is described as a new-age platform spanning advanced battery materials and graphene, with manufacturing, R&D, and innovation foundation. The company is developing large-scale anode materials business alongside graphene and future material development, serving the EV, BESS, and energy-storage ecosystem.