Ampvolts Ltd

Ampvolts Ltd: Closure of trading window for designated persons and immediate relatives from October 1, 2026 until 48 hours after the declaration of unaudited financial results for the quarter and half year ended September 30, 2026

Financial highlights

• Revenue from operations FY26: 2063.64 ₹ lakhs.
• Total income FY26: 2376.37 ₹ lakhs.
• Profit before tax: 207.16 ₹ lakhs.
• Tax expense: 51.93 ₹ lakhs.
• Profit after tax: 155.23 ₹ lakhs.
• Total comprehensive income: 154.99 ₹ lakhs.
• EPS: 0.60 ₹ per share.
• Dividend: not declared for FY26.
• ROE: 3.1%.
• DSCR: 2.33 times.
• Debt–to–Equity: 0.97x.
• Current ratio: 2.13x.
• Net debt to equity gearing: 96.90%.
• Segment revenue mix supports COCO expansion.
• Rights issue raised: ₹4,753 lakh.

Segment revenue and mix

• EV Charger Sales revenue: ₹1,226.06 lakh.
• EV Charging Services revenue: ₹837.58 lakh.
• Fleet Operation income: ₹200.93 lakh.
• Other Operating Income: ₹505.28 lakh.
• Total Segment Revenue: ₹2,063.64 lakh.
• Segment results - EV Charger Sales: ₹264.75 lakh.
• Segment results - EV Charging Services: ₹414.49 lakh.
• Segment results - Total: ₹679.24 lakh.

Balance sheet and liquidity

• Total equity: ₹5,077.47 lakh.
• Share capital: ₹2,571.09 lakh.
• Borrowings (non-current): ₹2,332.36 lakh.
• Current borrowings: ₹2,604.05 lakh.
• Bank overdraft (secured): ₹1,880.40 lakh.
• Cash and cash equivalents: ₹16.54 lakh.
• Bank deposits: ₹1,543.62 lakh.
• Total assets: ₹10,471.67 lakh.

Capital structure and funding

• Rights issue: up to ₹4,800 lakh; ₹4,753 lakh raised.
• Fixed deposits utilised: ₹521.56 lakh; balance ₹2,103.62 lakh.
• Forfeiture of partly paid shares: 2,89,087.
• Long-term borrowings: ₹2,332.36 lakh.
• Overdraft against deposits: ₹1,880.40 lakh.
• Total current borrowings: ₹2,604.05 lakh.

Governance and board changes

• Board comprises six directors; mix of executives and independents; one woman.
• New independent directors appointed: Harnish Rao and Sahil Rao, Nov 2025.
• Jaydeep Mehta resigned: Oct 20, 2025.
• Naimish Raval re-appointed as Executive Director.
• 27th AGM scheduled for Sept 30, 2026 via VC/OAVM.

Auditors and internal controls

• Statutory auditors: MYSP & Associates LLP proposed; BK & Co to 2025-26.
• Secretarial auditor: Mehul Bambhroliya.
• Internal auditor: Chintan Popat & Associates.
• Audit fees: ₹6.00 lakh.
• No qualifications in the audit report; going concern stated.

Related party transactions

• Related parties include AV AC DC Renew Private Limited; ₹100 crore t ransactions.
• System Level Solutions (India) Private Limited; ₹50 crore transactions.
• RPTs approved by Audit Committee; arm's length basis.
• KMP/director remuneration: MD ₹48 lakh; Executive Director ₹24 lakh.

Outlook and risks

• Outlook positive for EV charging industry; COCO expansion planned.
• Long-term charging hubs and fleet charging opportunities anticipated.
• Risks: high capex, regulatory changes, grid constraints, and competition.
• Management aims to expand charging network and enhance efficiency.

AGM Details

• AGM held on 30 September 2026 at 3:00 PM IST via VC/OAVM.
• Mode: VC/OAVM only; cut-off for attendance/e-voting: 23 September 2026.
• Register of Members closed 24–30 September 2026 (inclusive).
• Notice/Annual Report available on company website.

Resolutions presented

• Ordinary Resolution 1: Adoption of Audited Financial Statements for FY2025-26.
• Ordinary Resolution 2: Re-appointment of Naimish Raval as Director.
• Ordinary Resolution 3: Appointment of MYSP & Associates LLP as Statutory Auditors.
• Special/Ordinary Resolution 4: Related Party Transactions approvals.

Other approvals and postal ballots

• Postal Ballot approvals: Harnish Rao and Sahil Rao Independent Directors.
• Postal Ballot: Alteration of MOA object clause approved.

Voting results

• All AGM resolutions passed with requisite majority.
• Postal ballot approvals reported: independent directors approved.

Dividend

• Dividend: no dividend declared or proposed.

Director changes

• Jaydeep Mehta ceased as Independent Director on 20 Oct 2025.
• Harnish Rao appointed Independent Director from 14 Nov 2025.
• Sahil Rao appointed Independent Director from 14 Nov 2025.
• Naimish Raval re-appointment as Director (retiring by rotation).

Auditor appointments

• MYSP & Associates LLP appointed Statutory Auditor for five years to FY2030-31.
• Appointment subject to shareholder approval.
• Remuneration to be mutually agreed.

Related party transactions

• RPTs approved with AV AC DC Renew Private Limited and System Level Solutions India Private Limited.
• Amounts: AV AC DC Renew ₹100 Cr; SLSIPL ₹50 Cr.
• Board authorized to execute deeds to give effect.

Other material approvals

• No other material approvals reported at AGM.

Encumbrance details

• Target company: Ampvolts Limited (formerly Quest Softech (India) Limited)
• Encumbrance type: Pledge of promoter shares
• Promoter: AV AC DC Renew Private Limited
• Promoter holding pre-encumbrance: 1,42,05,278 shares (55.25%)
• Promoter encumbered prior: 71,68,225 shares (27.88%)
• New encumbrance: 27,50,000 shares pledged
• Post-encumbrance total: 99,18,225 shares (38.57%)
• Encumbered in favour of: SBICAP Securities Limited
• Reason: Working Capital Loan for Ampvolts
• Date of encumbrance creation: 29/08/2026

Encumbrance Creation on Promoter Shares

• Target company: Ampvolts Limited (formerly Quest Softech (India) Limited).
• Encumbrance type: Pledge on promoter shares.
• New pledge: 37,03,704 shares created on 26 August 2026.
• Total encumbered after event: 71,68,225 shares (27.88% of total share capital).
• Promoter: AV AC DC Renew Private Limited.
• Encumbrance in favour of: Cholamandalam Securities Limited.
• Reason: Working capital loan availed by Ampvolts Limited.
• Earlier encumbrances: 34,64,521 shares encumbered before this pledge.
• Dates of earlier encumbrances: 23 Feb 2026 and 04 Mar 2026.

Deviation status and fund details

• Purpose: Statement of Deviation and Variation under Clause 32(1) for the reported quarter.
• Mode of fund raising: Rights Issue.
• Date and amount raised: disclosed in filing.
• Monitoring agency: Not applicable.
• Deviation: No deviation in use of funds.
• Audit Committee comments: Not provided in annexure.
• Status of fund utilisation: No deviation reported.

AGM details

• 27th AGM scheduled for Wednesday, 30 September 2026 at 3:00 PM via video conferencing.
• Register of Members and Share Transfer Books closure from 24 to 30 September 2026 (inclusive).

Board actions on financial results

• Approved unaudited quarterly financial results for the quarter ended 30 June 2026.
• Noted the Limited Review Report issued by the statutory auditors.