TVS Srichakra Limited has announced a strategic investment of Rs 3.78 crore in Navia Two Power Private Limited, marking a significant step toward renewable energy adoption. The investment was completed on March 20, 2026, through a rights issue subscription aimed at acquiring solar power under group captive mode.

Investment Details

The company disclosed that it invested Rs 3,78,79,138 to acquire 19,863 equity shares of Navia Two Power Private Limited. The investment structure includes:

Shareholding Enhancement

Following this investment, TVS Srichakra's shareholding position in Navia has strengthened considerably:

About Navia Two Power Private Limited

Navia Two Power Private Limited serves as a special-purpose vehicle for owning and operating captive power plants, ensuring compliance with regulatory requirements for captive power consumption under Indian electricity laws. Key details about the investee company include:

• Incorporation: August 12, 2024
• CIN: U35106HR2024PTC124127
• Registered Office: 3rd Floor, Tower 10B, DLF Cyber City, DLF QE, Gurgaon, Haryana – 122002
• Business Focus: Electric power generation using non-conventional sources and sale
• Industry: Renewable energy
• Group Affiliation: Special Purpose Vehicle of Zelestra Group

Strategic Rationale

The acquisition serves multiple strategic purposes for TVS Srichakra:

• Compliance with regulatory requirements for captive power consumption under Indian electricity laws
• Access to solar power through group captive mode
• Investment in renewable energy infrastructure
• Partnership with established renewable energy players

Transaction Structure

The investment was structured as a cash consideration through a rights issue subscription. The transaction does not fall under related party transactions, and no promoter or group companies have any interest in the acquired entity. The acquisition was completed on March 20, 2026, with no additional governmental or regulatory approvals required.

TVS Srichakra Limited has announced a postal ballot notice seeking shareholder approval for the re-appointment of Mr. R Naresh as Managing Director, designated as Executive Vice-Chairman. The company issued the notice on 25th February 2026, outlining the voting process and key details of the proposed appointment.

Postal Ballot Details

The remote e-voting process has been scheduled with specific timelines and procedures for shareholder participation.

The voting will be conducted exclusively through remote e-voting, with no physical postal ballot process. Shareholders whose names appear in the Register of Members or Beneficial Owners list as of the cut-off date will be eligible to participate.

Proposed Re-appointment Details

The special resolution seeks approval for Mr. R Naresh's continuation in his leadership role for an extended term.

The re-appointment requires special resolution approval as Mr. Naresh will attain the age of 70 years during the proposed tenure, necessitating compliance with Section 196(3) of the Companies Act, 2013.

Leadership Profile and Experience

Mr. R Naresh brings extensive industry expertise and institutional knowledge to his role. As an engineering graduate, he possesses nearly four decades of experience in the automobile and rubber industries. His association with TVS Srichakra began on 2nd June 1982, when he was first appointed to the Board as a co-founder of the company.

Key Qualifications:

• Engineering graduate with specialization in Rubber Technology
• Over 43 years of experience in Corporate Management and Auto & Tyre Industry
• Strategic leadership in institutional framework development
• Deep understanding of automotive ecosystem trends and regulatory developments

Remuneration and Benefits Structure

The proposed compensation package includes various components designed to align with industry standards and company performance.

Recent Compensation:

• FY 2024-25: ₹2.97 crore
• As of 31st December 2025: ₹2.31 crore

Proposed Benefits Package:

• Medical reimbursement up to one month's salary annually
• Chauffeur-driven car for company business
• Free telephone and mobile communication facilities
• Personal accident insurance with annual premium not exceeding ₹10,000
• Gratuity and leave encashment benefits

Shareholding and Board Participation

Mr. Naresh maintains active involvement in company governance and holds significant equity stake in the organization.

Voting Process and Timeline

Shareholders can participate in the voting process through the NSDL e-voting platform. The company has appointed Mr. N Balachandran as Scrutinizer to ensure fair and transparent conduct of the postal ballot process. Results will be communicated to stock exchanges and published on the company website at www.tvseurogrip.com by 31st March 2026.

The Board of Directors recommends the special resolution for shareholder approval, citing Mr. Naresh's continued leadership as critical for maintaining business momentum and executing long-term growth plans.