Ampvolts Limited has successfully completed its postal ballot process on January 6, 2026, with shareholders demonstrating overwhelming support for all three proposed special resolutions. The company submitted detailed voting results to BSE Limited on January 7, 2026, in compliance with Regulation 44 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, followed by comprehensive regulatory filings under Regulation 30.

Postal Ballot Process and Compliance

The postal ballot was conducted under the scrutiny of Mr. Mehul Bambahroliya, a practicing Company Secretary from BMB & Associates, who was appointed as scrutinizer on November 14, 2025. The e-voting period commenced on December 8, 2025, at 9:00 AM IST and concluded on January 6, 2026, at 5:00 PM IST, providing shareholders with nearly a month to cast their votes.

Director Appointments with Unanimous Support

Shareholders approved the appointment of two new independent directors with remarkable consensus. Mr. Harnish Mahendrabhai Rao (DIN: 11357015) was appointed as an independent director, receiving 14,225,844 votes in favor against only 9 votes against, representing 99.99% approval. Similarly, Mr. Sahil Jayesh Rao (DIN: 11367592) secured his appointment as independent director with 14,225,843 votes in favor and 10 votes against, also achieving 99.99% approval.

Both directors have been appointed for a term of five consecutive years effective from November 14, 2025, and will not be liable to retire by rotation as per the provisions of the Companies Act, 2013.

Director Profiles and Qualifications

Mr. Harnish Rao brings extensive legal expertise as a highly qualified legal professional with over 25 years of experience in commerce and law. His dual expertise in corporate and legal domains provides unique perspectives in legal advisory, litigation, and dispute resolution. The company has confirmed that none of the existing directors are inter-se related to Mr. Harnish Rao.

Mr. Sahil Rao is a Chartered Accountant and Corporate Lawyer specializing in taxation and bankruptcy laws. He has handled numerous complex and precedent-setting cases, dedicating extensive hours to legal and tax research with focus on simplifying compliance and minimizing legal stress for clients. His dual qualification and diverse experience enable practical, business-oriented solutions for corporate and regulatory matters.

Memorandum of Association Amendment Details

The third special resolution involved amending the company's Memorandum of Association to expand its business objectives into electric vehicle services and retrofitting activities. The amendment received 14,225,844 votes in favor against 9 votes, maintaining the same 99.99% approval rate. The company has formally notified BSE Limited under Regulation 30 of SEBI Listing Regulations regarding these alterations.

Regulatory Documentation and Transparency

The company has fulfilled all regulatory requirements by submitting the scrutinizer's report, voting results, and minutes of postal ballot proceedings to BSE Limited. Managing Director Vipul Chauhan digitally signed the compliance documents on January 7, 2026. The voting results and scrutinizer's report have been made available on the company's website at www.ampvolts.com as required under regulatory provisions. The company has confirmed that both newly appointed directors are not debarred from holding directorship positions by virtue of any SEBI order or regulatory authority directives.

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.