To,
The Members,
The Board of Directors have pleasure in presenting their Twenty Seventh (27th)
Annual Report on the business and operations of the Company and the accounts for the
Financial Year ended March 31, 2026.
1. FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY
(Rs In lakhs)
Particulars |
For the year ended March 31, 2026 |
For the year ended March 31, 2025 |
| Total Income |
2376.37 |
297.71 |
| Total Expenses |
2169.21 |
369.09 |
| Profit / (Loss) before exceptional item and tax |
207.16 |
(71.38) |
| Exceptional Items |
- |
- |
| Profit/ (Loss) before Tax |
207.16 |
(71.38) |
| Less: Tax expenses |
51.93 |
(117.66) |
| Profit / (Loss) after Tax |
155.23 |
46.28 |
| Other Comprehensive Income (net of Tax) |
(0.24) |
0.18 |
| Total Comprehensive Income for the period |
154.99 |
46.46 |
The Standalone Financial Statements of the Company for the _nancial year ended March
31, 2026 have been prepared in accordance with the Indian Accounting Standard (Ind AS) as
noti_ed by the Ministry of Corporate A_airs and as amended from time to time.
2. BRIEF DESCRIPTION OF COMPANY AFFAIRS DURING THE YEAR
The Company is engaged in the business of providing comprehensive Electric Vehicle (EV)
charging solutions, including the trading, installation, commissioning, operation, and
maintenance of EV chargers and charging infrastructure. Its o_erings also include site
assessment, technical support, and after-sales services, including Annual Maintenance
Contracts (AMCs). The Company serves a diverse customer base comprising individual
consumers, commercial establishments, residential societies, _eet operators, and
institutional clients, with a focus on supporting the development of a reliable,
accessible, and sustainable EV charging ecosystem in India. Looking at available
opportunity for E-vehicle operations, Company has ventured into E-truck Fleet operations
and E-cab Fleet operations from current year
3. DIVIDEND
The Board of Directors has not recommended any dividend on the equity shares of the
Company for the _nancial year ended March 31, 2026, with a view to conserve the resources
of the Company.
4. RESERVES
No amount is proposed to be transferred to the reserves for the _nancial year ended
March 31, 2026.
5. MATERIAL CHANGES AND COMMITMENTS
There have been no material changes and commitments a_ecting the _nancial position of
the Company which have occurred between the end of the _nancial year and the date of
signing of this report.
6. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE
During the period under review, no signi_cant and material orders have been passed by
the regulators or courts or tribunals impacting the going concern status of the Company or
will have bearing on Company's operations in future.
7. INTERNAL FINANCIAL CONTROLS AND THEIR ADEQUACY
The Company has in place adequate systems of Internal Control to ensure compliance with
policies and procedures which is commensurate with size, scale and complexity of its
operations. The Company has appointed an external professional _rm as an Internal Auditor.
The Internal Audit of the Company is regularly carried out to review the internal control
systems and processes.
8. AUDITORS i. Statutory Auditors
At the Twenty Second (22nd) AGM held on September 30 2021, the members of
the Company approved the appointment of M/s. Bansi Khandelwal & Co., Chartered
Accountants (Firm Registration No. 145850W) as statutory auditors of the Company for a
term of 5 years from the _nancial year 2021-22 onwards at such remuneration plus service
tax, out-of-pocket, travelling and living expenses, etc., as may be mutually agreed
between the Board of Directors of the Company and the Auditors. Accordingly, M/s. Bansi
Khandelwal & Co. will continue as statutory auditors of the Company till the _nancial
year FY 2021-22 to FY 2025-26. The term of the current statutory auditors will be
completed at the ensuing Annual General Meeting.
The Audit Committee and Board of Directors in their meeting held on 8th May,
2026 recommended the appointment of M/s. MYSP Associates LLP, Chartered Accountants (Firms
Registration No. 116455W) as statutory auditors of the Company for a term of 5 (Five)
years from the conclusion this Annual General Meeting till the conclusion of Annual
General Meeting for the _nancial year 2030-2031 at such remuneration plus service tax,
out-of-pocket, travelling and living expenses, etc., as may be mutually agreed between the
Board of Directors of the Company and the Auditors, subject to approval of the
shareholders at the ensuing Annual General Meeting. ii. Secretarial Auditors
Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and
Regulation 24A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, Mr. Mehul Bambhroliya, Practicing Company Secretary, Mumbai (Membership No. 28191
and Certi_cate of Practice No. 10198), continues as the Secretarial Auditor of the Company
pursuant to his appointment by the Members for a term of _ve consecutive _nancial years
commencing from FY 2025-26 to FY 2029-30. The Secretarial Audit Report for the _nancial
year ended March 31, 2026, issued by the Secretarial Auditor in the prescribed Form MR-3,
forms part of this Annual Report as Annexure-I. The Secretarial
Auditor has con_rmed that he satis_es the eligibility criteria prescribed under the
Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015. iii. Internal Auditors
Pursuant to the provisions of Section 138 of the Companies Act, 2013 read with
Companies (Accounts) Rules, 2014 and on recommendation of the Audit Committee, the Board
in its meeting held on 20th July, 2023, appointed M/s. H A Parikh and Company,
Chartered Accountant as the internal auditor of the Company w.e.f. 20th July,
2023 for the consecutive period of _ve years i.e from _nancial year 2023-24 to 2027-28.
The Internal auditor tendered his resignation e_ective from 1st April, 2026.
The Audit Committee and Board of Directors in their meeting held on 8th May,
2026 recommended the appointment of M/s. Chintan Popat & Associates, Chartered
Accountants as Internal auditor of the Company for a term of 2 (Two) years commencing from
1st April, 2026.
9. AUDITORS' REPORT
There was no quali_cation, reservation or adverse remark or disclaimer made by the
Statutory Auditors in their report and the said Auditor's Report & notes to accounts
are self-explanatory.
10. NUMBER OF MEETINGS OF THE BOARD
The Board of Directors of the Company met 7 (Seven) times during the year under review.
The Board meetings were held on 10th April, 2025, 30th May, 2025, 13th
August, 2025, 14th November, 2025, 19th December, 2025, 12th
February, 2026 and 31st March, 2026. The intervening gap between the two
consecutive meetings was within the period prescribed under the Act and Listing
Regulations including circulars / noti_cations issued thereunder.
The attendance of the directors is as under:
Name of the Directors |
Category |
No. of Board meetings held and entitled to attend |
No. of Board meetings attended |
| Mr. Vipul Chauhan |
Managing Director |
7 |
7 |
| Mr. Naimish Raval |
Executive Director |
7 |
7 |
| Mrs. Tejas Shah |
Non-Executive Independent Director |
7 |
6 |
| @Mr. Jaydeep Mehta |
Non-Executive Independent Director |
3 |
3 |
| Mr. Bipin Hirpara |
Non-Executive Independent Director |
7 |
5 |
| ## Mr. Harnish Rao |
Non-Executive, Independent Director |
3 |
1 |
| ## Mr. Sahil Rao |
Non-Executive, Independent Director |
3 |
1 |
@ Ceased to be director w.e.f 20th October, 2025 ## Appointed as director
w.e.f 14th November, 2025
11. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES
The Company had no subsidiary, joint venture or associate company during the _nancial
year 2025-26.
12. SHARE CAPITAL OF THE COMPANY
As on 31st March, 2026, the share capital of the company is ` 25,71,09,130/-
divided as 2,57,10,913 equity shares of ` 10/- each.
During the year under review, the company has forfeited 2,89,087 Equity shares on which
share application money was not received pursuant to 1st, 2nd Call
and Final call and reminder notice. The break up is under: 1,07,051 shares of ` 6.50 each,
unpaid ` 3.50 per share 1,82,036 shares of ` 3.00 each, unpaid ` 7.00 per share
13. UTILISATION OF FUNDS RAISED THROUGH RIGHTS ISSUE
The Board of Directors of the Company, at its meeting held on July 26, 2023, approved
the Rights Issue of Equity Shares of the Company having a face value of _10/- each at an
issue price of _30/- per share, aggregating up to _4,800.00 lakhs ("the Rights
Issue"). The Rights Issue was o_ered to the existing shareholders of the Company in
the ratio of 8 (Eight) Equity Shares for every 5 (Five) fully paid-up Equity Shares held
by them as on the record date ("Eligible Equity Shareholders").
Pursuant to the aforesaid Rights Issue, the Company received _1,600.00 lakhs towards
the issue of partly paid-up Equity Shares at _3/- per share up to March 31, 2024, and an
additional amount of _3,153.00 lakhs up to March 31, 2025, aggregating to _4,753.00 lakhs.
Pending deployment of the funds for the business purposes speci_ed in the Letter of
O_er, the Company had temporarily invested _2,625.18 lakhs in Fixed Deposits as at March
31, 2025.
During the period from December 2025 to March 2026, the Company utilised _521.56 lakhs
out of the aforesaid Fixed Deposits for the purposes set out below: Summary of Fixed
Deposits for the FY 2025-26
Particulars |
Amount |
|
(Rs.in lakhs) |
| Fixed Deposits as at March 31, 2025 |
2,625.18 |
| Less: Fixed Deposits utilised during the year |
(521.56) |
| Fixed Deposits as at March 31, 2026 |
2,103.62 |
Summary of Utilisation of Fixed Deposits for the FY 2025-26
Particulars |
Amount |
|
(Rs.in lakhs) |
Addition to Fixed Assets: |
|
| Charging Station – Chargers, Transformers and Other |
46.97 |
| Materials |
|
| Meter Security Deposit relating to Charging Station |
17.19 |
| General Business Purposes, including Advances to Vendors |
457.40 |
Total Utilisation of Previous Year's Fixed Deposits |
521.56 |
Accordingly, out of the Fixed Deposits amounting to _2,625.18 lakhs held as at March
31, 2025, _521.56 lakhs was utilised during the period from December 2025 to March 2026
for the above-mentioned business purposes, and the balance of _2,103.62 lakhs remained
invested in Fixed Deposits as at March 31, 2026.
Utilisation of Money Raised through the Rights Issue for the FY 2024-25
Particulars |
Amount |
|
(Rs.in lakhs) |
| General Business Purpose |
171.79 |
| Investment in fixed deposit - temporary parking of funds |
2,613.00 |
| Balance amount available in Bank at the end of year, 31st
March 2025 |
5.00 |
| Addition to Fixed Assets |
225.18 |
| Advances to Vendors |
1188.50 |
| Meter Security Deposits |
47.16 |
| Security Deposits for Charging hub |
200.00 |
Total |
4,450.63 |
Source of Funds
Particulars |
Amount |
|
(Rs.in lakhs) |
| Fund received from Right issue during F.Y. 24-25 |
3,153.01 |
| Fixed Deposits of Previous year Utilised |
462.05 |
| Overdraft facility against fixed deposit utilised during F.Y. 24-25 |
835.57 |
Total |
4,450.63 |
14. WHISTLE BLOWER POLICY/VIGIL MECHANISM POLICY:
The Company has established a Vigil Mechanism / Whistle Blower Policy to deal with
instance of fraud and mismanagement, if any. The mechanism also provides for adequate
safeguards against victimization of directors and employees who avails of the mechanism
and provide for direct access to the Chairman of the Audit Committee in appropriate /
exceptional cases.
The details of the Vigil Mechanism Policy are given in the Report on Corporate
Governance and the policy is also posted on the website of the Company viz.
www.ampvolts.com.
We a_rm that during the _nancial year 2025-26 no employee or director was denied access
to the Chairman of the Audit Committee.
15. EXTRACT OF ANNUAL RETURN:
Pursuant to Section 92(3) read with Section 134(3)(a) of the Act, the Annual Return
as on March 31, 2026 is available on the Company's website at www.ampvolts.com.
16. PUBLIC DEPOSITS:
During the year under review, the Company has not accepted or renewed any deposits
within the meaning of Sections 73 and 76 of the Companies Act, 2013, read with the
Companies (Acceptance of Deposits) Rules, 2014. Accordingly, the provisions relating to
furnishing details of deposits or unclaimed/ unpaid dividends are not applicable to the
Company.
17. MANAGERIAL REMUNERATION AND OTHER DETAILS:
The remuneration paid to Directors and Key Managerial Personnel of the Company during
the Financial Year 2025-26 was in conformity with the Nomination and Remuneration Policy
of the Company.
18. REMUNERATION POLICY:
Pursuant to the provisions of Section 178 of the Act and Regulation 19 of the Listing
Regulations and on the recommendation of the Nomination and Remuneration Committee, the
Board of Directors has adopted a policy (‘Remuneration Policy') for selection and
appointment of Directors, Key Managerial Personnel (‘KMP'), Senior Management
Personnel (‘SMP'), other employees and their remuneration including criteria for
determining quali_cations, positive attributes, independence of a director and other
related matters. There has been no change in the Remuneration policy during the current
_nancial year. The Remuneration Policy is placed on the website of the Company
www.ampvolts.com.
19. DIRECTORS AND KEY MANAGERIAL PERSONNEL:
As on March 31, 2026, the Board of Directors of the Company comprised Six Directors.
The Board has an appropriate and balanced mix of Executive, Non-Executive, and Independent
Directors, in compliance with the provisions of the Companies Act, 2013 and the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing
Regulations"). The composition of the Board re_ects a strong commitment to sound
corporate governance practices and e_ective oversight of the Company's management and
operations.
a) Retirement by Rotation:
In accordance with the provisions of the Companies Act, 2013 and the Articles of
Association of the Company, Mr. Naimish Raval, Executive Director, is liable to retire by
rotation at the 27th Annual General Meeting and being eligible, has o_ered
himself for re-appointment. The Board of Directors recommends his re-appointment. A
resolution seeking approval of the shareholders for his re-appointment, along with the
requisite details pursuant to Regulation 36 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 and Secretarial Standard-2 issued by the
Institute of Company Secretaries of India, forms part of the Notice convening the Annual
General Meeting.
b) Appointment and Re-appointment: i) Based on the recommendation of the Nomination
and Remuneration Committee, the Board of Directors, at its meeting held on November 14,
2025, appointed Mr. Harnish Mahendrabhai Rao (DIN: 11357015) and Mr. Sahil Jayesh Rao
(DIN: 11367592) as Additional Directors in the category of Non – Executive
Independent Directors of the Company for a term of _ve consecutive years commencing from
November 14, 2025, subject to the approval of the Members.
Subsequently, the Members of the Company, by way of Special Resolution passed through
Postal Ballot on January 6, 2026, approved the appointment of Mr. Harnish Mahendrabhai Rao
(DIN: 11357015) and Mr. Sahil Jayesh Rao (DIN: 11367592) as Non-Executive Independent
Directors of the Company for a term of _ve consecutive years commencing from November 14,
2025 not liable to retire by rotation. ii) Mr. Jaydeep Mehta (DIN: 06952808) has tendered
his resignation as Non- Executive Independent Director w.e.f 20th October,
2025. The Board of Directors places on record its sincere appreciation for his valuable
guidance, support and contributions during his tenure as an Independent Director of the
Company and wishes him success in his future endeavours.
c) Declaration by from Independent Director(s) and Re-appointment, if any:
The Company has received declarations from all Independent Directors conveying that
they meet the criteria of independence and are not aware of any circumstances or
situation, which exist or may be reasonably anticipated, that could impair or impact their
ability to discharge their duties with an objective of independent judgement and without
any external in_uence. as laid down under Section149(6) of the Act and Regulations
16(1)(b) and 25 of the Listing Regulations.
The Independent Directors have also con_rmed that they have complied with Schedule IV
of the Act and the Company's Code of Conduct.
Further, the Independent Directors have also submitted their declaration in compliance
with the provision of Rule 6(3) of the Companies (Appointment and Quali_cation of
Directors) Rules, 2014, which mandates the inclusion of Independent Director's name in the
data bank of Indian Institute of Corporate A_airs ("IICA") till they continue to
hold the o_ce of an independent director.
None of the directors of your Company are disquali_ed under the provisions of Section
164(2) of the Act. Your directors have made necessary disclosures, as required under
various provisions of the Companies Act, 2013 and the Listing Regulations.
In the opinion of the Board, all the independent directors are persons of integrity and
possess relevant expertise and experience and are independent of the management.
d) Annual performance evaluation by the Board:
Pursuant to the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), the
Board of Directors has carried out an annual evaluation of its own performance, the
performance of individual Directors (including Independent Directors), as well as the
working of its committees.
The Nomination and Remuneration Committee of the Company has laid down the manner in
which such evaluation shall be carried out and has delegated the authority to the Board to
implement the evaluation process. In accordance with the methodology prescribed, the Board
formulated a structured questionnaire covering various aspects of its functioning, the
e_ectiveness of Board and Committee processes, and the performance of individual Directors
and the Chairperson. The questions were tailored considering the business requirements of
the Company and the roles and responsibilities assigned to the Directors.
The evaluation of each Committee was carried out by the Board based on evaluation
reports submitted by the respective Committees. The performance evaluation reports of
individual Directors were reviewed by the Chairman of the Board.
The key criteria considered for the performance evaluation of Directors included: i.
Attendance at Board and Committee meetings; ii. Quality and depth of contribution during
Board deliberations; iii. Strategic inputs provided in shaping the future direction of the
Company; and iv. Value-added feedback and perspectives beyond information provided by the
management.
The details of the programmes for familiarization of Independent Directors with the
Company, their roles, rights, responsibilities in the Company, nature of the industry in
which the Company operates, business model of the Company and related matters are put up
on the website of the Company.
20. COMMITTEES OF THE BOARD
In accordance with the provisions of the Act and Listing Regulations, the Company has
constituted _ve committees of the Board namely: -
1) Audit Committee
2) Stakeholders' Relationship Committee
3) Nomination and Remuneration Committee
4) Risk Management Committee (Not Mandatory as per LODR)
5) Borrowing & Finance Committee (Not Mandatory as per LODR)
Details of all the Committees along with their composition, changes, if any, and
meetings held during the _nancial year 2025-26 are provided in the Corporate Governance
Report, forming part of this Report.
21. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:
The Company has certain loans and unquoted investments. The details of changes in the
Loans, Guarantees and Investments covered under the provisions of Section 186 of the Act
are given in the notes to the Financial Statements.
22. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES REFERRED TO IN
SECTION 188(1) OF THE ACT:
All contracts / arrangements / transactions entered by the Company during the _nancial
year 2025-26 with related parties were in the ordinary course of business and on
arm's length basis and were entered into based on considerations of various business
exigencies, such as synergy in operations, their specialization, etc. and in furtherance
of the Company's interests. Therefore, disclosure of Related Party Transactions in Form
AOC-2 as per the provisions of Sections 134(3)(h) and Section 188 of the Companies Act,
2013 read with Rule 8(2) of the Companies (Accounts) Rules, 2014 is not applicable.
In accordance with the provisions of Regulation 23 of the Listing Regulations, the
Company has adopted a policy on Related Party Transactions and the same has been uploaded
on its website www.ampvolts. com.
As per the Regulation 23(4) of the Listing Regulations, the Company sought approval of
Shareholders at the 26th Annual General Meeting, by passing necessary
resolution for Material Related Party Transactions to be entered from the conclusion of
the 26th Annual General Meeting (AGM) upto the date of the 27th AGM.
The transactions for F.Y. 2025-26 were within the approved limits. Further, the approval
of members is being sought for Material Related Party Transactions at the ensuing AGM.
The Related Party Transactions are placed before the Audit Committee for approval.
Prior omnibus approval of the Audit Committee is obtained for the transactions which are
repetitive in nature. A statement of all Related Party Transactions is placed before the
Audit Committee for its review on a quarterly basis, specifying the nature, value and
terms and conditions of the transactions.
23. CORPORATE GOVERNANCE CERTIFICATE AND MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
In accordance with the provisions of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing
Regulations"), a detailed Report on Corporate Governance for the _nancial year ended
March 31, 2026, forms an integral part of this Annual Report. Mr. Mehul Bambhroliya,
Practising Company Secretary, who also serves as the Secretarial Auditor of the Company,
has certi_ed that the Company has complied with the requirements of Corporate Governance
as stipulated under the Listing Regulations. The Compliance Certi_cate issued by him is
annexed to the Corporate Governance Report.
The Management Discussion and Analysis Report, as required under Regulation 34 of the
Listing Regulations, is presented in a separate section and forms part of this Annual
Report, providing insights into the _nancial and operational performance of the Company
during the year under review, along with future outlook.
24. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND
OUTGO
The Provision of Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the
Companies (Accounts) Rules, 2014 details regarding Conservation of Energy, Technology
Absorption, Foreign Exchange earnings and outgo are given in "Annexure –
II" appended herewith, forming part of this Report.
25. CORPORATE SOCIAL RESPONSIBILITY (CSR)
The provisions of the Corporate Social Responsibility under the Companies Act, 2013 are
not applicable to the Company.
26. PARTICULARS OF EMPLOYEES
The information relating to remuneration and other details as required pursuant to
Section 197 of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014, as amended, is as under:
Name |
Designation |
Ratio of remuneration to median employees' remuneration in FY 2025-26 |
% increase in remuneration in FY 2025-26 |
| Mr. Vipul Chauhan |
Chairman and Managing Director |
11.46:1 |
- |
| Mr. Naimish Raval |
Executive Director |
5.73:1 |
- |
| Mrs. Mittal Shah |
Company Secretary and Compliance Officer |
1.43:1 |
- |
| Mrs. Bhadresha Patel |
Chief Financial Officer |
1.55:1 |
- |
Non-Executive Independent Directors do not receive any remuneration other than sitting
fees for attending meetings of the Board of Directors and its Committees.
None of the employees of the Company was in receipt of remuneration exceeding the
limits prescribed under Section 197 of the Companies Act, 2013, read with Rule 5(2) and
Rule 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014.
27. DIRECTORS' RESPONSIBILITY STATEMENT
Your directors, to the best of their knowledge and belief and according to the
information and explanations obtained by them and as required under Section 134(3)(c) and
134(5) of the Companies Act, 2013 state that: a) In the preparation of the Annual
Accounts, the applicable accounting standards have been followed along with proper
explanation relating to material departures; b) The directors have selected such
accounting policies and applied them consistently and made judgments and estimates that
are reasonable and prudent so as to give a true and fair view of the state of a_airs of
the Company as at March 31, 2026 and of the Pro_t of the Company for that year; c) The
Directors have taken proper and su_cient care for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding the assets of the
Company and for preventing and detecting fraud and other irregularities; d) The Directors
have prepared the annual accounts on a going concern basis; e) The Directors have laid
down internal _nancial controls to be followed by the Company and that such _nancial
controls are adequate and were operating e_ectively; f) The Directors have devised proper
systems to ensure compliance with the provisions of all applicable laws and that such
systems were adequate and operating e_ectively.
28. RISK MANAGEMENT AND AREAS OF CONCERN
The Company has laid down a well-de_ned Risk Management Policy covering the risk
mapping, trend analysis, risk exposure, potential impact and risk mitigation process. A
detailed exercise is being carried out to identify, evaluate, manage and monitor both
business and non-business risks. The Board periodically reviews the risks and suggests
steps to be taken to control and mitigate the same through a properly de_ned framework.
29. LISTING WITH STOCK EXCHANGES:
The Company's shares are listed on BSE Ltd. with e_ect from July 05, 2013. The annual
listing fee for the _nancial year 2026-27 has been paid to BSE and requisite taxes in
respect of listing fees have been deposited within the due date to the statutory
authority.
30. INFORMATION UNDER SEXUAL HARASSMENT OF WOMEN AT WORK PLACE (PREVENTION, PROHIBITION
AND REDRESSAL) ACT, 2013
The Company has complied with the provisions relating to the constitution of the
Internal Complaints Committee as required under Section 4 of the Sexual Harassment of
Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
The members of the ICC Committee are as under:
Sr. No. Name of the Members |
Designation |
| 1. Ms. Hetal Panchal |
Presiding Officer |
| 2. Mr. Naimish Raval |
Committee Member |
| 3. Mr. Sharad Rastogi |
Committee Member |
| 4. Dr. Sunita Sharma |
External Member |
During the _nancial year 2025-26, there was no complaint _led before the said Committee
and there was no complaint pending at the beginning or end of the said _nancial year.
31. COMPLIANCE WITH SECRETARIAL STANDARDS
During the _nancial year under review, the Company has complied with the provisions of
all applicable Secretarial Standards as amended and issued by Institute of Company
Secretaries of India and noti_ed by the Ministry of Corporate A_airs and your Directors
con_rm compliance of the same the _nancial year 2025-26.
32. REPORTING OF FRAUDS:
During the year under review, there have been no frauds reported by the Statutory
Auditors of the Company under sub-section (12) of Section 143 of the Act.
33. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND
BANKRUPTCY CODE, 2016 DURING THE YEAR ALONG WITH THEIR STATUS AS AT THE END OF THE
FINANCIAL YEAR:
During the year under review and till date of this Report, the Company has neither made
any application against anyone nor any proceedings were pending against the Company under
the Insolvency and Bankruptcy Code, 2016.
34. DETAILS OF DIFFERENCE BETWEEN THE AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE
TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL
INSTITUTIONS ALONG WITH THE REASONS THEREOF:
During the _nancial year under review, the Company has availed loan facilities from
banks and/or _nancial institutions. However, no One-Time Settlement (OTS) has been
undertaken or entered into by the Company with any bank or _nancial institution.
Accordingly, disclosure regarding any di_erence between the valuation carried out at the
time of an OTS and the valuation carried out while availing loan facilities is not
applicable to the Company.
35. COMPLIANCE WITH THE MATERNITY BENEFIT ACT, 1961
The Company has complied with the provisions of the Maternity Bene_t Act, 1961,
including all applicable amendments and rules framed thereunder. The Company is committed
to ensuring a safe, inclusive, and supportive workplace for women employees. All eligible
women employees are provided with maternity bene_ts as prescribed under the Maternity
Bene_t Act, 1961, including paid maternity leave, nursing breaks, and protection from
dismissal during maternity leave.
The Company also ensures that no discrimination is made in recruitment or service
conditions on the grounds of maternity. Necessary internal systems and HR policies are in
place to uphold the spirit and letter of the legislation.
36. GENDER-WISE COMPOSITION OF EMPLOYEES
In alignment with the principles of diversity, equity, and inclusion (DEI), the Company
discloses below the gender composition of its workforce as on the March 31, 2026.
Male Employees: 7 Female Employees: 4 Transgender Employees: 0
This disclosure reinforces the Company's e_orts to promote an inclusive workplace
culture and equal opportunity for all individuals, regardless of gender.
37. ACKNOWLEDGEMENTS:
Your Directors acknowledge with gratitude and wishes to place on record its
appreciation for the dedication and commitment of Company's employees at all levels which
has continued to be our major strength.
The Directors also thank the shareholders, investors, customers, business partners,
bankers and other stakeholders for their con_dence in the Company and its management and
look forward for their continuous support.
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For and on behalf of the Board of Directors |
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Ampvolts Limited |
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(formerly known as Quest Softech (India) Limited) |
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Vipul Chauhan |
Naimish Raval |
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Managing Director |
Executive Director |
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(DIN: 01241021) |
(DIN: 09359061) |
Date : 13th August, 2026 |
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Place : Vadodara |
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Registered O_ce: |
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| Cabin No.20, 8th Floor, Times Square, |
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| Andheri Work_o, Next to Sai Service, |
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| Andheri East, Mumbai - 400069 |
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