Ambuja Cements Limited has announced significant leadership changes following the outcome of its Board meeting held on 28th March 2025. The company, part of the Adani Group, is aligning its leadership structure with the group’s broader strategy for sustained growth and operational efficiency.

Key Leadership Appointments and Changes

1. Reappointment of Mr. Ajay Kapur as Managing Director (MD)

   • Ajay Kapur has been reappointed and redesignated as Managing Director of Ambuja Cements for a term of two years, effective from 1st April 2025. He will cease to hold the position of Wholetime Director and CEO after the close of business hours on 31st March 2025.

   • Mr. Kapur has over 30 years of experience in the cement, construction, power, and heavy metals industries. He previously served as the CEO and MD of Ambuja Cements from 2014 to 2019 and played a pivotal role in driving the company's growth.

   • Before rejoining Ambuja Cements, Mr. Kapur was associated with Vedanta Limited as CEO of Aluminium & Power and MD of Commercial. He holds an MBA from K.J. Somaiya Institute of Management and is an alumnus of The Wharton School, University of Pennsylvania.

2. Appointment of Mr. Vinod Bahety as Wholetime Director and CEO

   • Vinod Bahety, currently serving as the Chief Financial Officer (CFO), has been elevated to the role of Wholetime Director and CEO of Ambuja Cements, effective 1st April 2025, for a term of three years.

   • Consequently, Mr. Bahety will step down as CFO with effect from 31st March 2025.

   • Mr. Bahety, a Chartered Accountant (CA) and Cost and Works Accountant (CWA), brings over 25 years of experience in corporate leadership roles across the manufacturing and finance sectors. He played a pivotal role in managing large-scale mergers and acquisitions for the Adani Group before taking over the CFO position at Ambuja Cements.

3. Appointment of Mr. Rakesh Tiwary as Chief Financial Officer (CFO)

   • Rakesh Tiwary will assume the position of Chief Financial Officer (CFO) of Ambuja Cements effective 1st April 2025, replacing Mr. Bahety.

   • Mr. Tiwary brings extensive experience in financial management and strategic planning, aligning with the company's long-term objectives.

4. Appointment of Mr. Praveen Garg as Independent Director

   • Praveen Garg has been appointed as an Additional Director (Non-Executive and Independent) on the Board of Ambuja Cements for a term of three consecutive years starting 1st April 2025.

   • His appointment aligns with the company’s commitment to enhancing corporate governance and maintaining a diverse and experienced board.

Changes in Senior Management Personnel (SMP)

1. Appointment of Ms. Madhavi Isanaka as Chief Digital Officer (CDO)

   • Madhavi Isanaka will take over as the Chief Digital Officer (CDO) effective 1st April 2025, succeeding Mr. Hemal Shah, who will step down at the close of business hours on 31st March 2025.

2. Appointment of Mr. Vaibhav Dixit as Head of Manufacturing

   • Vaibhav Dixit has been appointed as Head of Manufacturing effective 1st April 2025, replacing Mr. Sukuru Ramarao, whose tenure will end on 31st March 2025.

3. Cessation of Mr. Ashwin Raikundaliya as Chief Sustainability Officer

   • Mr. Ashwin Raikundaliya will cease to be part of Senior Management Personnel (SMP) with effect from 31st March 2025.

Regulatory and Compliance Updates

The disclosures regarding the appointments and changes in the company’s leadership structure have been made in accordance with the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”).

Revised List of Key Managerial Personnel (KMP)

Effective 1st April 2025, the revised list of Key Managerial Personnel (KMP) authorized to determine materiality and disclose information to stock exchanges will include:

• Mr. Ajay Kapur, Managing Director

• Mr. Vinod Bahety, Wholetime Director and Chief Executive Officer

• Mr. Rakesh Tiwary, Chief Financial Officer

• Mr. Manish Mistry, Company Secretary and Compliance Officer

Board Meeting Details and Document Availability

The Board meeting commenced at 01:00 p.m. and concluded at 01:45 p.m. All relevant documents and disclosures will be made available on the company's official website www.ambujacement.com as per regulatory requirements.

Conclusion

These strategic changes in leadership reflect Ambuja Cements’ commitment to aligning its operational strategy with the Adani Group’s vision for growth and sustainability. The new leadership structure is expected to bring enhanced expertise, innovation, and efficiency in achieving long-term business objectives.

The Board’s decision to restructure key roles reinforces the company’s commitment to maintaining corporate governance, operational excellence, and sustained value creation for its shareholders. The appointment of experienced leaders like Mr. Ajay Kapur, Mr. Vinod Bahety, and Mr. Praveen Garg is expected to steer Ambuja Cements towards continued success and industry leadership.

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