Ravindra Energy Limited has scheduled its 46th Annual General Meeting for Monday, September 28, 2026 at 12:00 Noon (IST) via Video Conferencing/Other Audio-Visual Means. The meeting features nine agenda items, including a new employee stock option scheme and the reappointment of the CEO.

AGM Details and Voting Timeline

The meeting will be held in accordance with Ministry of Corporate Affairs General Circular No. 03/2025 dated September 22, 2025, which permits AGMs through video conferencing until further orders. The deemed venue is the registered office at BC 105, Havelock Road, Camp, Belgaum-590001, Karnataka.

Shareholders on record as of the cut-off date of Monday, September 21, 2026 are eligible to vote. Remote e-voting opens at 9:00 am on Wednesday, September 23, 2026 and closes at 5:00 pm on Sunday, September 27, 2026. Up to 1,000 members may attend via VC/OAVM on a first-come-first-served basis, with no such restriction for directors, institutional investors, and shareholders holding 2% or more.

The dispatch of the notice and annual report was completed on September 5, 2026. Documents are available electronically to registered members, in compliance with MCA circulars dispensing with physical copies.

Agenda: Ordinary and Special Business

The AGM will transact the following business:

Ordinary Business

• Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026
• Re-appointment of Dr. Vidya Murkumbi (DIN: 00007588) as director, liable to retire by rotation

Special Business

REL ESOP Scheme 2026: Key Features

The Nomination and Remuneration Committee formulated the REL ESOP Scheme 2026 on July 11, 2026, with pricing guidelines adopted on August 21, 2026. The Board approved the scheme on August 21, 2026. Salient features include:

• Total options: Up to 22,00,000 (Twenty-Two Lakhs), not exceeding 1% of issued equity share capital
• Face value: ₹10 per equity share
• Vesting schedule: Nil in Year 1 and Year 2; 30% in Year 3; 30% in Year 4; 40% in Year 5 (computed from grant date)
• Exercise period: 10 years from the date of vesting
• Implementation: Direct route — fresh allotment by the Company, not through a trust
• Eligible employees: Permanent employees and whole-time/non-executive directors (excluding independent directors and promoter-group employees holding more than 10% equity)

CEO Reappointment and Remuneration Revision

Mr. Shantanu Lath's term as Whole-Time Director & CEO concluded on August 10, 2026. The Board, at its meeting on August 14, 2026, approved his re-appointment for three years effective August 11, 2026, subject to shareholder approval. His proposed maximum remuneration ceiling is ₹45 million per annum. His past remuneration ceiling was ₹30 million effective October 1, 2025, and remuneration drawn in FY2025-26 was ₹20.00 million.

Similarly, the Board approved a revision in the remuneration ceiling for Dr. Vidya Murkumbi, Whole-Time Director & Chairperson, to ₹45 million per annum for her remaining tenure (three years from September 1, 2024). Her remuneration drawn in FY2025-26 was ₹19.34 million, against a prior ceiling of ₹30 million effective October 1, 2025.

Articles of Association Amendment and Office Relocation

Tata Capital Limited has granted a Rupee Term Loan facility not exceeding INR 100,00,00,000 (Indian Rupees One Hundred Crore Only) to the Company. The proposed Articles of Association amendment incorporates lender-related definitions and provisions for appointment of a nominee director by Tata Capital Limited upon an event of default.

The Board also approved, at its August 14, 2026 meeting, a proposal to shift the registered office from Karnataka to Maharashtra — specifically from BC 105, Havelock Road, Camp, Belgaum, Karnataka to Floor No. 37, B-3702, Kohinoor Square, N. C. Kelkar Marg, Dadar (West), Mumbai – 400028, Maharashtra. The shift is intended to facilitate a proposed merger with Energy in Motion Limited, an associate company, and to consolidate corporate and business operations.

Financial Performance Summary (FY2025-26)

The 46th Annual Report, submitted alongside the AGM notice, discloses the following financial highlights:

The Board has not recommended any dividend for FY2025-26, citing the need to conserve financial resources. The Company had 55 subsidiaries and one associate company as on March 31, 2026. Total workforce stood at 208 as on March 31, 2026.

E-Voting and Scrutinizer

KFin Technologies Limited is the Registrar and Transfer Agent and will provide the VC/OAVM and e-voting platform. M/s Sanjay Dholakia & Associates (Peer Reviewed Firm No. 2036/2022) has been appointed as scrutinizer. Results will be declared within two working days of the AGM conclusion and published on the Company's website, KFinTech's portal, and the BSE and NSE websites.

Ravindra Energy associate company Energy In Motion Limited (EIM) has signed a strategic memorandum of understanding with Oil Field Warehouse & Services Limited (OWS) and Radiance Green Mobility Private Limited. The partnership aims to deploy 500 electric heavy commercial vehicles across high-density freight corridors in India.

The collaboration targets key logistics routes including Mumbai–Pune, Mundra–Morbi–Ahmedabad, and Mumbai–Delhi. Initial deployment will commence with 50 vehicles on the Mumbai-Pune corridor in October 2026. The rollout will scale as EIM completes its battery swapping network on these routes.

Strategic Partnership Details

EIM will provide its integrated electric mobility ecosystem, which includes electric heavy vehicles, battery swapping, charging infrastructure, and energy management solutions. OWS and Radiance Green Mobility will contribute their expertise in commercial fleet deployment and operations.

The partnership leverages EIM’s flagship Ashwa 55-ton electric tractor, designed for high-utilization freight operations. EIM has also homologated a 350-kWh battery version of the Ashwa electric tractor to support rapid turnaround times through its battery-swapping ecosystem.

Executive Commentary

Narendra Murkumbi, Managing Director of EIM, stated that the partnership would enable heavy electric freight movement at costs significantly below diesel transport costs. He highlighted benefits including sustainability and reduced dependence on imported oil.

Pankaj Surani, Managing Director of OWS, described the move as a step toward developing dedicated electrified freight corridors that are efficient, cost-competitive, and sustainable. Vineet Sharma, Director and CFO of OWS, noted that trial data indicated electrification was viable and would provide a more predictable cost structure less susceptible to global disruptions.

Vitthal Wable, Director of Radiance Green Mobility, expressed excitement about extending the Heavy Commercial EV partnership beyond port ecosystems to India’s key freight corridors, building on the ICE fleet expertise of parent company Jyothi Transport & Freight Services.