Ravindra Energy Limited has announced its comprehensive business update for Q4FY26, highlighting significant developments across its renewable energy generation and electric vehicle business segments for the period ended March 31, 2026. The company submitted its quarterly and year-to-date financial results to BSE Limited and National Stock Exchange of India Limited, completing all necessary regulatory filings.

Renewable Energy Portfolio Overview

The company's renewable energy business encompasses a total portfolio of 486.3 MWp across 113 locations in Maharashtra and Karnataka. The portfolio demonstrates strong diversification across multiple project categories and off-takers.

Renewable Energy Generation Performance

The operational renewable energy assets generated 194.1 million kWh during the year ended March 31, 2026, compared to 53.8 million kWh in the previous year. The quarterly performance for March 2026 showed generation of 78.3 million kWh versus 16.0 million kWh in March 2025.

Electric Vehicle Business Performance

The company's electric vehicle division, operating under the Energy In Motion (EIM) brand, achieved significant operational milestones during FY26. The business delivered 311 total units by March 31, 2026, comprising 277 sales units and 34 lease units.

Infrastructure Development

The EIM division has established comprehensive infrastructure to support its electric vehicle operations. The company operates battery swap stations and charging networks across multiple states, with expansion plans for FY27.

Current Network Status

Operational Metrics

The company's charging infrastructure achieved significant utilization metrics by April 27, 2026:

• Total battery swaps across all stations: 11.7 thousand
• Total charging sessions across all chargers: 3.8 thousand
• Total energy dispensed: 2.93 million kWh

Manufacturing Capabilities

Ravindra Energy has established an assembly plant in Talegaon, Pune, with an annual production capacity of 5,000 units. The facility features modern infrastructure including overhead cranes and comprehensive manufacturing capabilities to support the company's electric vehicle production requirements.

Financial Performance and Future Outlook

The EIM division reported total revenue of ₹1,805.9 million for the year ended March 31, 2026, while recording a loss of ₹152.9 million. The company has established partnerships with multiple financial institutions including six banks, two NBFCs, and two leasing companies to provide financing solutions for customers.

The business outlook indicates strong demand momentum driven by Total Cost of Ownership parity with diesel vehicles and expected increases in diesel prices. The company plans network expansion across four key corridors including NCR region around New Delhi, Delhi-Mumbai highway, Kandla and Mundra ports, and Mumbai-Pune Expressway for FY27.

Ravindra Energy Limited announced the completion of its Board of Directors meeting held on April 29, 2026, where the company approved audited standalone and consolidated financial results for Q4FY26 and the year ended March 31, 2026. The meeting, which commenced at 3:00 PM and concluded at 4:05 PM, also saw key appointments in auditing roles.

Board Meeting Outcomes

The Board of Directors, based on recommendations from the Audit Committee, approved several critical decisions during the meeting:

Auditor Appointments and Profiles

The company appointed M/s. P. G. Bhagwat LLP as Internal Auditors, a mid-sized Chartered Accountancy firm founded in 1938 with 85 years of experience. The firm operates as a Limited Liability Partnership with five service verticals, 16 specialized partners, and a team of over 350 professionals.

For cost auditing, M/s. A. G. Anikhindi & Co. Cost Accountants was appointed for FY2026-27. This professional services firm, established in 1985, specializes in statutory cost audits, cost accounting records compliance, and management consulting services. CMA (Dr.) A.G. Anikhindi brings over 40 years of professional experience in costing, auditing, and taxation.

Regulatory Compliance and Documentation

The company submitted comprehensive documentation to stock exchanges, including audited financial results with statutory auditors' reports dated April 29, 2026, and an unmodified opinion declaration from Executive Chairperson Dr. Vidya Murkumbi. The statutory audit was conducted by M/s. P. Ishwara Bhat & Co. Chartered Accountants, who issued unmodified audit opinions for both standalone and consolidated financial statements.

Fund Utilization and Monitoring

As part of the submission, the company included the Monitoring Agency's Report issued by India Ratings and Research Private Limited, along with the Statement of Deviation or Variation in utilization of funds raised through Preferential Issue under Regulation 32 of the Listing Regulations. The monitoring report confirmed no deviation from the stated objects of the preferential issue.

ESOP Implementation

The company continued its Employee Stock Option Scheme implementation, with 25% of stocks vested after completion of one year. During the period, 70,000 shares were exercised under the REL ESOP Scheme 2022, with shares issued accordingly. The scheme was originally approved by the Nomination & Remuneration Committee in January 2025, granting 10,67,301 employee stock options to eligible employees.