Press Release
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Asgard Alcobev Limited has appointed Mr. Ronak Jain as its new Managing Director effective March 19, 2026. Mr. Jain brings over 15 years of experience in the liquor and beer industry spanning manufacturing, packaging, distribution, and corporate strategy. The company has also strengthened its leadership with two additional appointments: Ms. Priyanka Jain as Additional Director (Non-Executive) bringing HR and organizational development expertise, and Mr. Binit Singhania as CFO & Finance Director with 15+ years in accounting, taxation, and compliance. The company is undergoing a major pivot from its legacy paper manufacturing business to the alcoholic beverages sector, following its recent majority acquisition of CMJ Breweries in Northeast India.
These appointments signal a focused push by the company into the alcoholic beverages space, which could be viewed positively by investors if the new MD delivers on the turnaround plan. However, the execution risk remains high given the ongoing business transformation.