Olectra Greentech has successfully concluded its postal ballot process, with all proposed resolutions receiving overwhelming shareholder approval. The company announced the voting results on December 24, 2025, marking a significant milestone in its corporate governance journey.

Postal Ballot Results Overview

The postal ballot, conducted through remote e-voting from November 24 to December 23, 2025, saw strong participation from shareholders across all categories. The voting process was scrutinized by Prathap Satla Associates, Company Secretaries, ensuring transparency and compliance with regulatory requirements.

Resolution-wise Voting Results

All three resolutions proposed in the postal ballot notice dated November 19, 2025, were approved with substantial majority:

Resolution 1: Regularisation of Managing Director

The regularisation of Mr. Mahesh Babu Subramanian (DIN: 08736697) as Director received strong support:

Resolution 2: Appointment as Managing Director

The appointment of Mr. Mahesh Babu Subramanian as Managing Director for a 3-year term from September 27, 2025, was approved:

Resolution 3: Independent Director Reappointment

The reappointment of Mrs. Chintalapudi Laksmi Kumari (DIN: 09023799) as Independent Director for 5 years from January 9, 2026, received approval:

Shareholder Participation Analysis

The postal ballot witnessed significant participation across different shareholder categories:

The successful completion of this postal ballot process strengthens Olectra Greentech's leadership structure and demonstrates strong shareholder confidence in the proposed appointments. The company has published the complete voting results and scrutinizer's report on its website at www.olectra.com , ensuring transparency and regulatory compliance.

Olectra Greentech Limited has disclosed receiving a penalty notice from the Telangana Industrial Infrastructure Corporation Limited (TGIIC) amounting to ₹2.58 crore, including GST, for delayed completion of its EV manufacturing facility construction project.

Penalty Details and Timeline

The penalty notice covers a specific period from November 12, 2023, to November 11, 2025. TGIIC has directed the company to remit the penalty amount within seven days of receipt of the order.

Background of the EV Manufacturing Project

The penalty stems from delays in the full completion of Olectra Greentech's Greenfield EV Manufacturing Facility located at the Industrial Park in Seetharampur, Hyderabad, Telangana. According to a sale agreement dated November 11, 2021, the company acquired 150 acres of land from TGIIC for establishing this manufacturing facility.

The company had requested an extension of timelines for setting up the facility and sought a No-Objection Certificate (NOC) to obtain credit facilities against the scheduled property. In response to this request, TGIIC invoked the penalty clause outlined in the original sale agreement.

Current Operational Status

Despite the penalty notice, Olectra Greentech clarified that it has already partially commenced commercial operations at the new facility within the timelines stipulated in the sale agreement with TGIIC. This indicates that while full construction completion faced delays, the company has been able to begin production activities at the site.

Financial and Operational Impact

The company has assessed that apart from the penalty amount itself, there is no material impact on its financial or operational activities. Olectra Greentech stated that the impact is neither quantifiable financially nor operationally beyond the penalty sum.

This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding material developments affecting the company.