AmpVolts Limited has achieved a significant milestone by deploying 10 Montra Electric RHINO e-trucks on GHCL Limited's Pipavav-Sutrapada limestone corridor as a Logistics Service Provider (LSP). This strategic deployment marks the company's evolution from a Charge Point Operator (CPO) to an integrated green mobility solutions provider, demonstrating that electric vehicle freight is both operationally viable and commercially attractive.

Strategic Partnership with GHCL Limited

GHCL's Vice President, Shri P.N. Rao, flagged off the 10-truck fleet, reiterating the company's emphasis on sustainable and cleaner freight solutions while committing to supporting this transition. The deployment follows more than a year of successful truck charging hub operations serving multiple logistics service providers on this route.

Corporates like GHCL are increasingly recognizing that electric trucks, now easily available domestically, present a commercially viable and operationally superior path forward, keeping a long-term view of ESG compliance and OPEX optimization.

Market Growth and Government Support

India's commercial EV market stands at an inflection point, with heavy-duty electric trucks projecting 55% CAGR through FY2030. The broader commercial vehicle EV market is expected to reach USD 38.60 billion by 2033. Government policy support has created market tailwinds through several initiatives:

• PM E-DRIVE: ₹10,900 crore allocation
• FAME II: Charging infrastructure funding
• E-truck subsidies: ₹500 crore support

Despite this support, adoption barriers remain, including charging infrastructure constraints, operational uncertainty, and integration complexity that have historically limited fleet deployment.

Integrated Business Model and Future Plans

AmpVolts' approach extends beyond traditional charging infrastructure operation by integrating charging hubs, fleet management, and lifecycle support. According to Naimish Raval, Director at AmpVolts Limited, "We are proactively working with transporters, logistic companies, and truck makers to make EV charging easy. Now, with our expertise and experience in EV infrastructure, we are advancing into forward integration with green fleet—a win-win solution for both our company and our clients."

The company has expansion plans:

• Target: Develop a 500 e-truck ecosystem within the next 2-3 years
• Infrastructure: Additional electrical load capacity and accessories for hub expansion
• Green Integration: Considering green power integration for True-Green mobility mission

Ecosystem Partners and Support

Key ecosystem partners have reinforced their commitments to support the deployment:

Montra Electric - IPL Tech (Murugappa Group): Chief Business Officer P.V. Satyanarayana assured full lifecycle support for the RHINO e-truck fleet, including maintenance, diagnostics, and continuous vehicle optimization.

Verdemobility: Founder CEO Paresh Patel confirmed the company is working towards providing up to 360-kW DC fast chargers, ensuring rapid charging cycles essential for commercial logistics operations across the routes.

Environmental Impact and Corporate Climate Leadership

For GHCL and similar large corporates, reducing tailpipe carbon emissions under Scope-3 has become imperative for meeting India's net-zero commitments and mitigating CBAM (Carbon Border Adjustment Mechanism) implications. Transportation represents 15-25% of supply chain emissions for industrial commodity producers.

This deployment reduces approximately 11,000-12,000 tonnes of CO2-equivalent annually from GHCL's transportation footprint, operationalizing the company's climate commitments while maintaining operational excellence. AmpVolts combines proven charging infrastructure through four fully operational e-truck hubs with fleet operations management and multi-LSP capability, enabling corporates to achieve their ESG objectives while optimizing operational costs.

Ampvolts Limited has issued a clarification to BSE Limited regarding recent price movements in its shares, responding to an inquiry dated December 18, 2025. The company, formerly known as Quest Softech (India) Limited, provided detailed explanations for the stock movement while reaffirming its commitment to regulatory compliance.

Board Decision on Share Forfeiture

The company highlighted a significant board decision made on November 14, 2025, as the primary disclosed event that could impact share prices. The board approved the forfeiture of shares where call monies remained unpaid beyond stipulated timelines.

Regulatory Compliance Statement

Ampvolts Limited emphasized its adherence to SEBI regulations, specifically Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that it has consistently made all necessary disclosures to stock exchanges within stipulated timelines.

The outcome of the November board meeting, including the notice of forfeiture, was properly disclosed to the stock exchange in accordance with listing regulations and uploaded on the BSE website as required.

Market-Driven Price Movement

Regarding the price movement inquiry, the company clarified that no undisclosed price-sensitive information exists, nor are there any impending announcements or corporate actions requiring disclosure at this time. Key points from the clarification include:

• Share price movements are purely market-driven
• Price changes are attributable to prevailing market conditions
• The company has no control or specific knowledge of market factors driving the movement
• No pending corporate actions require disclosure

Commitment to Transparency

Ampvolts Limited reiterated its commitment to maintaining transparency and regulatory compliance. The company assured that any information or announcements likely to impact share price or trading volume will be promptly disclosed to stock exchanges within prescribed timelines.

The clarification, signed by Mrs. Mittal Kevin Shah, Company Secretary and Compliance Officer, was submitted to BSE Limited on December 19, 2025, addressing the exchange's inquiry comprehensively while maintaining the company's position on regulatory adherence.