Announcement under Regulation 30 (LODR) - Change in Management
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Ampvolts Limited held a board meeting on November 14, 2025, and approved several key items. The company approved its unaudited financial results for Q2 FY26 (quarter ended September 30, 2025) and H1 FY26, showing revenue from operations of Rs 145.31 lakhs for the quarter (more than double Rs 54.47 lakhs in Q2 FY25) and Rs 247.49 lakhs for the half year (vs Rs 65.58 lakhs in H1 FY25). The company remains loss-making at the net level with a H1 loss of Rs 66.01 lakhs. Two new Independent Directors were appointed: Mr. Harnish Rao (a legal professional with 25+ years of experience) and Mr. Sahil Rao (a Chartered Accountant and corporate lawyer), both for a 5-year term starting November 14, 2025, subject to shareholder approval via postal ballot. Additionally, 2,89,087 partly paid-up rights equity shares were forfeited due to non-payment of call money, and the company's Code of Fair Disclosure under insider trading regulations was amended.
The revenue growth from the EV charging business is encouraging, though the company is still reporting net losses which may concern short-term investors. The addition of two qualified Independent Directors strengthens board oversight and may improve corporate governance perception. Share approval will be sought via postal ballot, and the share forfeiture tidies up the capital structure.