Ravindra Energy Limited announced that its associate entity Energy in Motion Limited (EIM) has signed a memorandum of understanding with Drivn to deploy approximately 1,000 electric heavy-duty commercial trucks across India over the next two years. The regulatory filing dated April 20, 2026, under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, outlines this strategic business update in the electrical vehicle segment.

Partnership Framework

The collaboration between EIM, an original equipment manufacturer for heavy-duty electric trucks featuring battery-swapping technology, and Drivn, an EV leasing platform focused on heavy commercial fleets, establishes a comprehensive framework for large-scale electric fleet deployment. The partnership aims to combine vehicle supply, financing structures, deployment planning, lifecycle management, and energy support to improve access and reduce entry barriers for fleet operators.

Strategic Collaboration and Executive Commentary

Manav Bansal, CEO and Co-founder of Drivn, emphasized that scaling electric trucks in India depends on their performance as a commercial solution for fleet operators. He noted that the transition will be driven by clear economics, consistent performance, and dependable operations. Alpna Jain, Co-founder and Chief Business Officer of Drivn, added that for most fleet operators, the shift to electric is primarily a business decision, focusing on process simplicity, predictable costs, and ecosystem reliability.

Narendra M. Murkumbi, Managing Director & CEO of Energy in Motion Limited, stated that the MoU validates EIM's approach to solving the entire EV challenge in heavy commercial vehicles by enabling scale, selling vehicles without battery packs, and offering charging services with swappable batteries.

Business Model and Market Impact

Energy in Motion Limited, in which Ravindra Energy Limited holds 49.5% shareholding, focuses on selling bare electric tractors without battery packs to transporters while providing battery packs, charging or swapping infrastructure, and energy supply through long-term contracts. The entity commenced commercial operations on August 1, 2025.

The partnership builds on Drivn's recent US$ 80 million commitment from Nomura and its ongoing MoUs across the electric mobility ecosystem. Drivn's OEM-agnostic approach is designed for intercity transport operators, logistics providers, and asset-intensive industries transitioning to electric fleets at scale, supporting customers across sectors including intercity bus transportation, logistics, ecommerce, cement, and steel.

Ravindra Energy Limited has submitted its quarterly compliance certificate under SEBI regulations, demonstrating adherence to depository and participant regulations for the quarter ended March 31, 2026. The filing, dated April 04, 2026, was addressed to both BSE Limited and National Stock Exchange of India Limited.

Regulatory Compliance Certificate

The certificate was filed under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. Company Secretary and Compliance Officer Madhukar Shipurkar, with membership number A64947, digitally signed the document on April 04, 2026.

Depository Operations Confirmation

The certificate confirms two critical aspects of the company's depository operations during the quarter:

• Securities received from depository participants (NSDL and CDSL) for dematerialization were properly confirmed to the depositories
• Security certificates received for dematerialization were mutilated and cancelled after due verification, with depository names substituted in the register of members within the required 21-day timeframe

Registrar Certification

KFin Technologies Limited, serving as the company's Registrar and Share Transfer Agent, issued separate certificates to both NSDL and CDSL on April 01, 2026. Deputy Vice President Ganesh Chandra Patro signed these certificates, confirming that details of securities dematerialized and rematerialized during the quarter were furnished to all stock exchanges where the company's shares are listed.

Stock Exchange Communication

The compliance certificate was submitted to both major Indian stock exchanges where Ravindra Energy Limited shares are traded. The company maintains its listing presence on BSE Limited with scrip code 504341 and National Stock Exchange of India Limited with scrip code RELTD.

This quarterly filing represents standard regulatory compliance, ensuring transparency in the company's depository operations and maintaining adherence to SEBI guidelines for listed entities.