The additional charge for Khandelwal comes in the wake of M Ayyappan retiring last month as CMD of HLL, an official release said.
Khandelwal, who joined HLL as Director (Finance) in May 2009, provides leadership to the company's corporate finance division, it said.
HLL is a 'mini Ratna' PSU of Ministry of Health and Family Welfare with a diverse portfolio of productslike contraceptives, pharmaceuticals and personal hygiene and hospital products, besides diagnostic services.