Emmvee photovoltaic power Limited has issued a formal clarification to stock exchanges BSE and NSE regarding a recent media article titled "Solar module maker Emmvee Photovoltaic bets on data centres to fuel renewable energy demand" published on moneycontrol.com on March 17, 2026.

Company's Position on Media Statements

The solar module manufacturer clarified that statements attributed to the company in the media report were based on general industry commentary shared by senior management during routine interactions with media personnel. The company emphasized that these comments related to the broader renewable energy demand outlook, including emerging sectors such as data centres, and did not pertain to any specific transaction, negotiation, or event involving the company.

Disclosure Compliance and Information Transparency

In response to queries from both stock exchanges, the company provided comprehensive clarification on key regulatory aspects:

Information Already in Public Domain

The company confirmed that all company-specific information mentioned in the article, including capacity expansion plans, order book details, profit margins, and strategic direction, is already available in the public domain. This information has been previously disclosed through:

• Investor presentations
• Earnings releases
• Earning call transcripts
• Stock exchange filings

Material Impact Assessment

Emmvee Photovoltaic Power stated that the media article does not have any material impact on the company's operations or financial position. The clarification was issued in compliance with regulatory requirements following emails received from both NSE and BSE on March 17, 2026.

Regulatory Commitment

The company reaffirmed its commitment to maintaining compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations. Management assured stakeholders that appropriate disclosures will continue to be made whenever any material events occur that could impact the company's securities or operations.

The clarification was signed by Company Secretary and Compliance Officer Shailesha Barve from the company's Bengaluru office, ensuring proper documentation and regulatory compliance for all stakeholders.

Emmvee photovoltaic power Limited has received a substantial penalty order from customs authorities, as disclosed in a regulatory filing under SEBI Regulation 30. The solar equipment manufacturer announced the development through a formal communication to stock exchanges on March 17, 2026.

Penalty Details and Financial Impact

The Commissioner of Customs, Bengaluru has imposed significant financial penalties on the company and its personnel. The order includes multiple components of financial liability across different categories.

Nature of Alleged Violations

The customs order addresses alleged contraventions related to duty benefit claims. The penalty stems from an investigation into the company's availing of preferential duty rate benefits under Notification No.46/2011. The order was received by the company on March 16, 2026, indicating recent developments in what appears to be an ongoing customs matter.

Company's Response and Next Steps

Emmvee Photovoltaic Power Limited has outlined its strategy for addressing the customs order. The company has indicated several key aspects of its response:

• Plans to file an appeal against the customs order
• Assessment that the order will not create material financial impact
• Commitment to following proper legal procedures in challenging the decision

The company's disclosure emphasizes that despite the substantial penalty amount, management believes the financial impact on operations will be manageable. This assessment suggests confidence in either the appeal process or the company's financial position to handle the potential liability.

Regulatory Compliance

The disclosure was made in accordance with SEBI Listing Regulations, specifically Regulation 30, which requires listed companies to inform exchanges about material developments. Company Secretary and Compliance Officer Shailesha Barve signed the disclosure document, ensuring proper regulatory compliance in communicating this significant development to stakeholders and the investing public.