Ravindra Energy Ltd

Dematerialisation status

• Dematerialisation requests received were confirmed to depositories and listed on exchanges.
• Physical security certificates received for dematerialisation were mutilated and cancelled after verification.
• Depositories names were substituted as registered owners in the register of members within the prescribed timeline.
• Details of dematerialisation/rematerialisation were furnished to all stock exchanges where the company is listed.

AGM Details

• 46th AGM held Sep 28, 2026 at 12:00 Noon via video conferencing.
• Remote e-voting and electronic voting used.
• Record date: Sep 21, 2026.
• Meeting duration: 12:00–12:43.
• Postal ballot receipt deadline: Sep 28, 2026.
• Attendance: 7 promoters and 65 public via VC.

Resolutions & Outcomes

• Ordinary: Adoption of audited financial statements for year ended Mar 31, 2026 — passed.
• Ordinary: Appointment of Dr Vidya Murkumbi as Director in place of retiring — passed.
• Ordinary: Ratification of remuneration of cost auditors for year ending Mar 31, 2027 — passed.
• Special: Approval of ESOP Scheme 2026 for subsidiary employees — passed.
• Special: Approval of ESOP Scheme 2026 for company/group employees — passed.
• Special: Appointment of R. Shantanu L R as Whole-Time Director — passed.
• Remuneration to Chairperson/Whole-Time Director — passed.
• Special: Amendment to Articles of Association — passed.
• Special: Shift of registered office from Karnataka to Maharashtra and MOA changes — passed.

Directors & Remuneration

• Dr Vidya Murkumbi appointed as Director in place of retiring.
• R. Shantanu L R appointed as Whole-Time Director.
• Remuneration to Chairperson/Director approved.

Auditors

• Cost Auditor remuneration ratified for year ending Mar 31, 2027.

Other Approvals

• ESOP approvals granted for subsidiary and company employees.
• Amendments to Articles of Association approved.
• Shift of registered office to Maharashtra and MOA amendments.

Business overview

• Amalgamation with Energy in Motion (EIM) to form an integrated clean energy and EV mobility platform.
• REL contributes captive solar generation to power EIM's swap stations and charging points.
• Platform aims to internalize energy, reducing retail tariff exposure.
• EIM Megaplex SPV to house swap stations, battery packs, and chargers.
• Phase-driven capex and equity plan to fund expansion through FY2029-30.

Operational highlights

• Operating renewable portfolio capacity: 261.21 MWp.
• Total renewable capacity including under construction: 492.31 MWp.
• Under-construction capacity: 231.10 MWp across Maharashtra and Karnataka.
• PPA signed for operating and under-construction assets.

Strategic plan & capital allocation

• EIM Megaplex Limited established as 100% SPV for Network Division.
• Segregation enables funding without diluting at parent level; OEM business stays with REL.
• Deployment plan: 160 swap stations, 6,000 trucks, 7,280 battery packs, 400 MWp solar by FY2029-30.
• Total capex ₹3,500 -4,000 Cr over three years; equity ₹800-1,000 Cr by FY2029-30.
• Monetization of existing solar assets to fund near-term equity.

Governance & structure

• EIM Megaplex Limited positioned as SPV for Network Division to enable non-dilutive funding at SPV level.
• OEM activities to remain under Ravindra Energy Limited.

CEO Re-appointment

• Shareholders approved Shantanu Lath's re-appointment as WTD and CEO for a 3-year term from 11 Aug 2026.
• Profile: B.Com, ICAI member; with Ravindra Energy since 2012; CEO since 2019; ex-President Director at PT Renuka Coalindo.
• Relationship with other directors: Not related to any Directors or KMP.

AGM Details

• 46th AGM held Sept 28, 2026 at 12:00 Noon via VC/OAVM.
• Cut-off voting date: Sept 21, 2026.
• Remote e-voting: Sept 23–27, 2026; voting at AGM during meeting.
• Eligible voters were shareholders on cut-off date.

Key Resolutions

• Resolution 1 (Ordinary): Adoption of audited financials approved.
• Resolution 2 (Ordinary): Appointment of director in place of retiring Vidya Murkumbi.
• Resolution 3 (Ordinary): Ratification of Cost Auditor remuneration for FY2027.
• Resolution 4 (Special): Approval of REL ESOP Scheme 2026.
• Resolution 5 (Special): ESOP grant to employees of group/subsidiary/associate.
• Resolution 6 (Special): Re-appointment of Shantanu Lath as WTD/CEO.
• Resolution 7 (Special): Revision of remuneration limits for Vidya Murkumbi, WTD/Chair.
• Resolution 8 (Special): Amendment to Articles of Association.
• Resolution 9 (Special): Shift registered office to Maharashtra; MOA amended.

Director & Remuneration Changes

• New director appointed to replace retiring Vidya Murkumbi.
• Remuneration limits for Vidya Murkumbi, WTD/Chair, revised.

Auditors & Remuneration

• Cost Auditor remuneration for FY2027 ratified.

Corporate Actions

• Shift of registered office to Maharashtra with MOA alteration approved.

Ravindra Energy Limited – Trading window closed from Oct 01, 2026 until 48 hours after declaration of results for the quarter and half-year ended Sep 30, 2026

AGM details

• Date and time: 28 September 2026, 12:00 PM; mode: VC/OAVM.
• Meeting concluded at 12:43 PM (including e-voting).
• 72 members attended via VC/OAVM.
• Voting rights cut-off date: 21 September 2026.
• Remote e-voting period: 23–27 September 2026; Scrutinizer appointed.

Key resolutions

• Resolution 1 (Ordinary): Adoption of Audited Financial Statements for year ended 31 March 2026.
• Resolution 2 (Ordinary): Appointment of director to replace retiring Dr Vidya Murkumbi.
• Resolution 3 (Ordinary): Ratification of Cost Auditors' remuneration for FY ending 31 March 2027.
• Resolution 4 (Special): Approval of Ravindra Energy ESOP Scheme 2026.
• Resolution 5 (Special): Grant of ESOPs to employees of group company under REL ESOP 2026.
• Resolution 6 (Special): Re-appointment of Shantanu Lath as Whole-Time Director and CEO.
• Resolution 7 (Special): Revision in remuneration limits for Dr Vidya Murkumbi.
• Resolution 8 (Special): Amendment to the Articles of Association.
• Resolution 9 (Special): Shift registered office to Maharashtra and MOA amendment.

Director changes

• Appointment of director to replace retiring Dr Vidya Murkumbi.
• Re-appointment of Shantanu Lath as Whole-Time Director and CEO.

Auditors

• Remuneration of Cost Auditors ratified for FY ending 31 March 2027.

Other material approvals

• REL Board approved merger with Energy In Motion Limited; subject to regulatory approvals.

Meeting Details

• Date: Tuesday, 29 September 2026.
• Meeting type and mode: Group meeting, physical.
• Venue: Mumbai.
• Organiser: Go India Advisors.
• Purpose: Analysts/Institutional investor meeting schedule.
• Company website will host meeting information.
• Key company participants not disclosed.

Merger details

• REL and Energy In Motion approve Scheme of Merger; EIM merges into REL.
• J M Baxi Group to become co-promoter of REL.
• Merged entity to be renamed Energy In Motion Limited, subject to approvals.
• Scheme subject to statutory, regulatory, shareholder, creditor approvals and NCLT sanction.
• Consideration: 209 REL shares per 100 EIM shares; REL shares in EIM cancelled.
• Merged entity will hold 100% stake in EIM Megaplex Limited, SPV for battery assets.
• REL currently holds 49.54% stake in EIM.
• EIM focuses on electric heavy mobility; targets 40 operational assets by Mar 2027.
• Regulatory approvals needed from BSE/NSE under SEBI framework.
• REL portfolio has approximately 261 MWp across Maharashtra and Karnataka.
• Strategic rationale: integrated clean energy and electric mobility platform.