Madhav Infra Projects has executed 9 power purchase agreements with Madhya Pradesh Power Management Company Limited, aggregating to a total capacity of 73.15 MW. The agreements were signed under Regulation 30 disclosure dated April 23, 2026, and pertain to concessions awarded under Feeder level Solarization and PM-KUSUM C Yojana.

Agreement Details

The power purchase agreements establish a long-term partnership between Madhav Infra Projects and the state government undertaking for solar power generation.

Project Scope

The company will generate electricity through solar power projects having a cumulative capacity of 73.15 MW and sell the energy to Madhya Pradesh Power Management Company Limited at the approved tariff ranging from ₹2.71 to ₹2.73 per unit for the entire project tenure. The agreements are in continuation of intimations submitted on December 29, 2025, and January 6, 2026.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The company confirmed that neither the promoters nor promoter group have any interest in the entity that awarded the contract, and the transaction does not fall within related-party transactions.

Madhav infra projects Limited has filed its quarterly certificate with BSE Limited under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The certificate was submitted on April 14, 2026, by Company Secretary and Compliance Officer Khushbu Prajapati.

Regulatory Compliance Certificate

The certificate was prepared by M/s. Satellite Corporate Services Private Limited, the company's appointed Registrar and Share Transfer Agent (RTA). Under SEBI regulations, companies are required to submit quarterly certificates regarding the dematerialization of physical share certificates.

Dematerialization Status

The certificate confirms that no physical share certificates were received for dematerialization during the quarter ended March 31, 2026. Satellite Corporate Services Private Limited, as the RTA, verified and certified that:

• The company's securities (equity shares) are listed on stock exchanges
• Standard procedures for certificate verification, mutilation, and cancellation are in place
• Depository names are substituted in records as registered owners when dematerialization occurs

Corporate Information

Madhav Infra Projects Limited operates from its registered office at Madhav House, Plot No. 4, Near Panchratna Building, Subhanpura, Vadodara-390023. The company maintains regular communication with BSE Limited through its Corporate Relationship Department for all regulatory compliance matters.

Regulatory Framework

This quarterly filing is part of SEBI's regulatory framework to ensure transparency in the dematerialization process and maintain accurate records of share transfers from physical to electronic form. The certificate serves as confirmation of the company's compliance with depositories and participants regulations for the specified quarter.