Asgard Alcobev Limited has announced strategic leadership appointments following its board meeting conducted on March 19, 2026. The company, formerly known as banganga paper industries, made key decisions to strengthen its management structure through the appointment of three new directors as part of its ongoing transformation in the alcoholic beverages sector.

Key Board Appointments

The board meeting, held at the company's registered office from 4:00 PM to 5:00 PM, resulted in several significant appointments under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:

Leadership Profiles and Strategic Vision

Mr. Ronak Jain brings substantial industry expertise to his role as Managing Director. With over 15 years of experience in manufacturing, packaging, and distribution within the liquor and beer industry, he holds a Master's degree in International Business from Monash University. Currently serving as Director & CEO of CMJ Breweries Private Limited, his expertise spans corporate strategy, business expansion, operational efficiency, and financial management. Commenting on his appointment, Mr. Jain stated his immediate focus is on executing a forward-looking strategy that leverages strengths in operations, people, and finance to revitalize the company and create long-term value for shareholders, partners, and customers.

Ms. Priyanka Jain joins as Additional Director with more than 10 years of experience in human resource management and organizational development. She holds a B.Sc. degree from the University of Calcutta and specializes in talent management, culture initiatives, and aligning HR strategy with business objectives to build high-performing teams.

Mr. Binit Singhania assumes the dual role of Finance Director and Chief Financial Officer. As a Chartered Accountant with over 15 years of experience, he qualified as an ICAI member in November 2010. His expertise encompasses accounting, taxation, audit, financial management, compliance, fund management, project finance, and regulatory compliance.

Corporate Governance and Strategic Transformation

The appointments were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. All three appointees have disclosed no relationships with existing directors and confirmed no debarment under SEBI regulations.

These appointments underscore Asgard Alcobev's ongoing strategic realignment from its legacy paper manufacturing business to the alcoholic beverages sector. The company has recently acquired a majority stake in CMJ Breweries in Northeast India, and the revitalized leadership team will capitalize on emerging opportunities to steer the company toward sustainable growth.

Company Background and Future Outlook

Asgard Alcobev Limited operates under CIN L11010MH1984PLC033082 with its registered office located at Sr. No. 186, Gavalwadi Road, Ashewadi, Ramshej, Nashik, Maharashtra, and corporate office at Ferndale Complex, CMJ House, Block III, Keating Road, Shillong, Meghalaya. The company has undergone a transformation from its previous identity as Banganga Paper Industries Limited, reflecting its evolution as an emerging player in India's alcoholic beverages industry with a strong Northeast India presence through its subsidiary CMJ Breweries.

Asgard Alcobev Limited has announced a strategic manufacturing partnership through its subsidiary CMJ Breweries Private Limited, which has entered into an agreement with Brews & Bliss LLP to manufacture Golden Eagle beer brands for the North-East Region of India. The company disclosed this development under Regulation 30 of SEBI listing requirements on March 17, 2026.

Manufacturing Agreement Details

The manufacturing agreement encompasses the production of four distinct Golden Eagle beer variants for Mohan Meakin Limited (Solan). CMJ Breweries will leverage its state-of-the-art facility located in Byrnihat, Meghalaya, to produce these iconic beer brands across the entire North-Eastern territory.

Territorial Coverage and Market Reach

The agreement provides CMJ Breweries with exclusive manufacturing rights across a comprehensive geographical area in the North-Eastern region. The territorial coverage includes eight states and one neighboring country, positioning the company strategically in this growing market.

Operational Framework and Responsibilities

The partnership establishes a comprehensive operational framework with clearly defined responsibilities for both parties. CMJ Breweries will provide end-to-end manufacturing support including brewing, bottling, storage, loading and quality assurance services at its manufacturing facility.

Brews & Bliss LLP will oversee key commercial and operational responsibilities, including funding of working capital through a dedicated collection account for procurement of materials, brand and excise-related label registration costs, and market coordination across the covered territories.

Strategic Partnership Benefits

This grand alliance between the two renowned groups reinforces the strength of each partner to provide customers excellent beers while bringing large economic benefits for both partners, consumers and shareholders alike. The partnership combines Brews & Bliss LLP's commercial rights and market coordination capabilities with CMJ's established manufacturing expertise.

The agreement is expected to strengthen the presence and availability of Golden Eagle Beers across the North East and select neighboring markets, supporting the brand's growth ambitions in the region through manufacturing strength, operational alignment and market reach.

Source: Company/INE767M01029/d147aaf3-71ca-4968-9476-60f43780592d.pdf