Mercury EV-Tech Limited has issued a formal clarification to BSE Limited's Surveillance Department regarding significant price movement observed in the company's shares. The response, dated April 02, 2026, addresses queries raised by the stock exchange about recent share price volatility.

Company's Official Response

The clarification was submitted in response to BSE's mail reference no. L/SURV/ONL/PV/APJ/ 2026-2027 / 3477 dated April 01, 2026. Company Secretary Krishna Naik signed the official communication on behalf of Mercury EV-Tech Limited.

Key Clarifications Provided

The company made several important clarifications regarding the price movement:

• No Undisclosed Information: Mercury EV-Tech confirmed there is no additional information or pending announcements under Regulation 30 of SEBI (Listing Observations and Disclosure Requirements) Regulations, 2015 that could impact share price movement
• Management Position: The company's management stated they are not connected to the share price movement in any way
• Market-Driven Movement: The observed price movement was attributed to prevailing market conditions and market-driven factors

Regulatory Compliance Commitment

Mercury EV-Tech emphasized its commitment to regulatory compliance and transparency. The company highlighted that it has been regularly disseminating price-sensitive information in accordance with Regulation 30 of SEBI regulations and will continue this practice in the future.

The management reaffirmed their belief in complete compliance with corporate governance requirements and stated their commitment to complying with all SEBI regulation requirements in due course. This response demonstrates the company's proactive approach to addressing regulatory queries and maintaining transparency with stakeholders.

Mercury EV-Tech Limited has successfully concluded its postal ballot process for the appointment of a new statutory auditor, with shareholders demonstrating strong support for the proposed resolution. The company announced the results on February 13, 2026, following the completion of the e-voting process.

Postal Ballot Resolution Details

The postal ballot was conducted to seek shareholder approval for appointing M/S Tejas K. Soni, Chartered Accountants as the statutory auditor of the company. This appointment was proposed as an ordinary resolution under the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting Results and Shareholder Participation

The postal ballot process witnessed significant shareholder approval for the auditor appointment. The voting was conducted exclusively through the e-voting platform provided by National Securities Depository Limited (NSDL).

Shareholder Base and Process Details

The company had a total of 70,439 shareholders on the record date of January 09, 2026. The e-voting process was managed through NSDL's platform with Electronic Voting Event Number 138116. All eligible shareholders with registered email addresses were provided access to cast their votes electronically.

Regulatory Compliance and Oversight

The postal ballot process was conducted in strict compliance with Section 108 and 110 of the Companies Act, 2013, and Regulation 44 of the SEBI Listing Regulations. Ms. Janki Vaibhavkumar Shah, Proprietor of M/S SJV & Associates, Practicing Company Secretaries, was appointed as the scrutinizer on January 07, 2026, to ensure fair and transparent conduct of the voting process.

The resolution is deemed to have been passed effectively on February 12, 2026, being the last date specified for remote e-voting. The company has fulfilled all regulatory requirements for the appointment process and submitted the scrutinizer's report to the stock exchange as mandated under the listing regulations.