Ravindra Energy Ltd. · NSE:RELTD
Ravindra Energy — Merger or Acquisition (September 2026)
30 slides from Ravindra Energy's merger presentation, Sep 29, 2026
Slide 1: Regulation 30 intimation to stock exchanges
September 29, 2026 To, Dept. of Corporate Services, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, Phiroze Jeejeebhoy Towers, G Block, Bandra-Kurla Complex, Dalal Street, Mumbai- 400001, Bandra (E) Mumbai - 400 051, Maharashtra, India. Maharashtra, India. Scrip Co
Slide 2: Proposed Amalgamation
Proposed Amalgamation Creation of an Integrated Clean Energy and Electric Mobility Platform
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Ravindra Energy Limited (the “Company”), have been prepared solely for information purposes only and does not constitute any offer or invitation, directly or indirectly, in any manner, or induc
Slide 4: Why EIM and REL are joining forces
Why EIM and REL are joining forces BUSINESS RATIONALE EIM operates the most complete EV trucking ecosystem in India — electric trucks, swappable battery packs, swap stations and charging points. Combining with REL adds the one-layer EIM does not yet own: the green energy supplying it all. THE OUTCOM
Slide 5: Our Vision
Our Vision Sunshine to wheel is the most efficient and secure energy transformation - we want to lead this transformation in India Old Value Chain - Fossil Fuel Sun Plants Buried Extracted Refined Pumped Burnt 350 million years 350 million Months Weeks Today years ago ago ago Electrotech Revolution
Slide 6: The Age of Electrotech
The Age of Electrotech Solar, storage and electrification are compounding into a sixth energy revolution — driven by physics, economics and geopolitics Physics Economics Geopolitics 3x more efficient Cheaper every year 92% of countries Electrotech avoids losing two-thirds of energy to Technologies g
Slide 7: Current Shareholding Structure
Current Shareholding Structure RAVINDRA ENERGY LIMITED * ENERGY IN MOTION LIMITED* Promoter Mr. Dhruv Kotak Ravindra Mr. Dhruv Kotak Public Individuals (Murkumbi Group) (J M Baxi Group) Energy Limited (J M Baxi Group) 58.26% 39.22% 2.52% 49.54% 49.54% 0.92% REL EIM EIM Megaplex Ltd. Solar SPVs (Batt
Slide 8: Resultant Structure
Resultant Structure Promoter Group Murkumbi Group J M Baxi Group Public Shareholders 75% 25% Ravindra Energy Limited Renewable Energy Business Electric Vehicle Business Electric Vehicle Business stands dissolved without winding up continues as the listed entity on BSE held directly within REL; the a
Slide 9: Ports & Logistics: About the J M Baxi Group
Ports & Logistics 10 Terminals About The Group 05 Container Terminals 05 Multipurpose Cargo Terminals Founded in 1916, J M Baxi Group has spent more than a century at the heart of India’s 03 Inland Container Depots maritime and trade landscape. 04 Container Freight Stations What began on the waterfr
Slide 10: Dhruv K. Kotak, Managing Director
Delhi Inland Container Terminal Inchhapuri Inland Container Terminal Kandla Container Terminal Dhruv K. Kotak, Kandla Container Freight Station Managing Director Rozi Bulk Terminal Haldia Container Terminal Dhruv Kotak is the Managing Director of the J M Baxi Group, a diversified maritime infrastru
Slide 11: Renewable Business: Current Portfolio
Renewable Business: Current Portfolio No. of Capacity Project Name Off taker State COD/SCOD PPA signed Land Acquired? Locations/Projects (MWp) (A) Operating Portfolio MSKVY – 1 19 MSEDCL Maharashtra 135.82 Oct-25 MSKVY – 2 15 MSEDCL Maharashtra 58.71 Jun-26 Karnataka Karnataka – 1 14 Karnataka 34.15
Slide 12: The Transformation of Heavy Commercial Mobility
1. THE TRANSFORMATION OF HEAVY COMMERCIAL MOBILITY
Slide 13: Medium and Heavy Trucks Sector
Medium and Heavy Trucks Sector Energy Intensive & Disproportionately Polluting 3% of on-road fleet are medium and 3% heavy-trucks** smallest slice — biggest impact 15% of on-road distance travelled** 15% covering major freight corridors 35% of on-road fuel consumption** 35% 11× their fleet share in
Slide 14: Total Addressable Market
Total Addressable Market India’s Medium and Heavy-Duty Sector Opportunity TAM EIM FOCUS 3,40,000 2,15,000 trucks / yr vehicles / yr India Medium & Heavy-Duty Truck Market Heavy tractors, tippers and conventional trucks (>25T) India HDT Market by Segment — Annual Diesel Truck Sales (Units) 1,75,000 9
Slide 15: Current and Upcoming Products
Current and Upcoming Products Current Product Upcoming Products EIM ASHWA 4x2 Heavy e-Tipper with swappable Rigid e-truck with fixed battery pack (282/350 kWh e-tractor) battery 14
Slide 16: China Heavy EV Volume ≈ India Diesel Medium & Heavy Trucks Volume
China Heavy EV Volume ≈ India Diesel Medium & Heavy Trucks Volume Cumulative sales parity — China’s heavy EV volume matches India’s volume at ~3 lakh units India — Diesel Medium and Heavy Duty Trucks China — Electric Heavy Truck 400K 350K 341K 300K 250K 200K 237K 150K 155K 100K 38K 50K 15K 73K 5K 0K
Slide 17: EV Penetration: 3-Wheelers vs Heavy Commercial Vehicles
EV Penetration: 3-Wheelers vs Heavy Commercial Vehicles Percentage of Total Segment Sales That Are Electric 70 61% 60 57% 53% 54% 50 40 30 20 16% 9% 10 4% 1% 0 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Mar 2027 Mar 2028 Mar 2029 3-Wheelers (Including E-Rickshaws) Heavy Commercial Vehicles (E-Trucks) Sourc
Slide 18: EIM OEM Business Update
2. EIM OEM BUSINESS UPDATE
Slide 19: Key Technology Partners
Key Technology Partners • 6 years of exclusivity to assemble, market and distribute CVs with >18 tonne capacity in India (co-branding and localization allowed) • CATL is the largest manufacturers of battery packs in China and globally with 39% market share globally • 1st Indian OEM with direct assem
Slide 20: E-Tractors' Sales
E-Tractors’ Sales VEHICLES INVOICED BY SEPTEMBER 2026 INDUSTRIES WHERE OUR VEHICLES ARE IN USE ALREADY 452 Ports Cement Power Plant Steel Container Freight Stations 19
Slide 21: EIM's Manufacturing Facilities in One Complex
EIM’s Manufacturing Facilities in One Complex ➢ Location: Talegaon, Pune, ➢ Total Area: 35,000+ square meters ➢ Truck Assembly Plant • Area: 19,000+ square meters • Capacity: 5,000 vehicles/year ➢ Battery Pack Assembly Plant Talegaon, Pune • Area: 10,920 square meters • Capacity: 2.40 GWh/year (6,00
Slide 22: Electric Heavy Vehicle Assembly Plant
Electric Heavy Vehicle Assembly Plant North-West View of the Plant End of Line Testing Conveyor Assembly Line Wheel Assembly Station Vehicle on Test Line 21
Slide 23: EIM Network Business Update
3. EIM NETWORK BUSINESS UPDATE
Slide 24: Pioneering a Subscription Based Transportation Model
Pioneering a Subscription Based Transportation Model Maitryi is how we deliver it — our integrated platform bringing trucks, battery packs, energy and software into a single subscription Maitryi — an integrated platform for e-Tractors Battery Pack + Charging Cum In-house power supply for e-Tractor s
Slide 25: Typical Charging Cum Battery Swapping Station
Typical Charging Cum Battery Swapping Station 7+1 Swap station capacity 5-7 min Swapping time 8 Operational battery swapping stations (BSS) in India- 1,176 swaps per day (Capacity) 8 40 No of flexible chargers of 400 kW (public charging Target BSS to be operational by 31 Mar 2027 across the corridor
Slide 26: Upcoming Network Plan: 15,000 km
Upcoming Network Plan: 15,000 km Key arterial highways Green: Phase 1 30% of e-heavy commercial vehicle traffic 1. Delhi to Pune (NH - 48) 2. Mundra to Ahmedabad 3. Kandla to Jaipur Orange: Phase 2 Another 40 % of e-heavy commercial vehicle traffic 1. Ludhiana to Salem (NH - 44) 2. Mumbai to Nagpur
Slide 27: Upcoming Network Plan: Phase 1
Upcoming Network Plan: Phase 1 Clustered around freight density, anchor customers Mumbai · JNPA · Pune 1 Port NCR · DICT Sonipat 2 Industrial logistics hub Kandla & Mundra 3 West-coast port drayage Ludhiana · Pune 4 NH-48 corridor anchor 5 Mundra. Kandla. Ahmedabad
Slide 28: EIM Megaplex Limited – 100% SPV for Network Division
EIM Megaplex Limited – 100% SPV for Network Division 01 02 03 Allows capital raise without dilution at Segregation of OEM and Network business Enables better asset liability management listed company All swapping stations, chargers and battery packs Term debt of battery packs, swap stations, & We wi
Slide 29: Our Vision
Our Vision Sunshine to wheel is the most efficient and secure energy transformation - we want to lead this transformation in India Old Value Chain - Fossil Fuel Sun Plants Buried Extracted Refined Pumped Burnt 350 million years 350 million Months Weeks Today years ago ago ago Electrotech Revolution
Slide 30: Thank You
Thank You Creation of an Integrated Clean Energy and Electric Mobility Platform 29
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