Submission of transcription of earning call held on November 5, 2026

November 9, 2026 Dept. of Corporate Services, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (E) Dalal Street, Mumbai- 400001, Mumbai - 400 051, Maharashtra, India. Maharashtra, India. Scrip Code: 504341 NSE Symbol: RELTD ISIN: INE206N01018 Sub: Transcript of Ravindra Energy Limited Earnings Call with Investors held on November 5, 2026 Dear Sir/Madam, In continuation of our intimation letters dated November 2, 2026, November 5, 2026 and Pursuant to Regulation 30 read with Para A (15) of Part A to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (SEBI Listing Regulations, 2015) as amended, please find enclosed herewith the transcript of the Company’s Investor Call to discuss the Unaudited Standalone and Consolidated Financial Results of the Company for the Quarter and Half year ended September 30, 2026 held on November 5, 2026, is available on the website of the Company. The above-mentioned information is also made available on the website of the Company at in accordance with the provisions under Regulation 46(2)(oa) of the SEBI Listing Regulations at: www.ravindraenergy.com Thank you. Yours’ faithfully, For Ravindra Energy Limited Madhukar Shipurkar Company Secretary and Compliance officer Mem. No. A64947 Registered Office: BC 105, Havelock Road, Camp, Belgaum – 590001, Karnataka, India. P +91-831-2406600 | CIN L40104KA1980PLC075720 W www.ravindraenergy.com | E contact@ravindraenergy.com Ravindra Energy Limited Q2 & H1 FY27 Earnings Conference Call CORPORATE PARTICIPANTS: Mr. Shantanu Lath – Chief Executive Officer, Ravindra Energy Limited Mr. Narendra Murkumbi – Vice Chairman, Ravindra Energy Limited Mr. Vikas Pawar – Chief Financial Officer, Ravindra Energy Limited Mr. Pankil Shah – Vice President – Finance, Energy in Motion Ms. Tanishka Tanvi – Go India Advisors Moderator Good morning, ladies and gentlemen. I'm Akash, moderator for the conference call. Welcome to Ravindra Energy Limited, Q2 and H1 FY27 Earnings Conference Call. As a reminder, all participants will be in listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing * then 0 on your touch tone telephone. Please note this conference is being recorded. I would now like to hand over the floor to Ms. Tanishka Tanvi from Go India Advisors. Thank you and over to you. Tanishka Tanvi Thank you, Akash. Good Morning everyone, and welcome to Ravindra Energy Limited mid-year earnings call to discuss Q2 and H1 FY27 results. We have the senior management of the company on call, Mr. Shantanu Lath, Chief Executive Officer, Ravindra Energy Limited; Mr. Narendra Murkumbi, Vice Chairman, Ravindra Energy Limited; Mr. Vikas Pawar, Chief Financial Officer, Ravindra Energy Limited; and Mr. Pankil Shah, Vice President – Finance, Energy in Motion. Mr. Shantanu will first speak about the RE business followed by Mr. Murkumbi, who will cover the EIM business. We must remind you that the discussion on today's call may include certain forward-looking statements and must be therefore viewed in conjunction with the risks that the company faces. May I now request Mr. Shantanu Lath, to take us through the company's business outlook and financial highlights, subsequent to which we can open the floor for Q&A. Thank you, and over to you, sir. Shantanu Lath Thanks. Good morning, everyone, and thank you for joining the call. Let me start with a brief overview of where we are in the renewable energy business. We have set out a target of reaching a 500 MW operating portfolio by March ‘27. We are already at about 261.21 MW operating portfolio. Another 231.10 MW projects are under construction. Most of the cases, the land is already acquired. PPA is already signed. So, we are on track to achieve the target set out of 500 MW. In terms of generation for this quarter, the total generation report is about 66 kW or million units. In the half year, basically, we are at 145 kW or million units. On the financial performance of Ravindra Energy, this basically includes the entire solar business, which is basically the IPP, the EPC of our projects, and the electricity generation and trading. For the quarter ended, the turnover for electricity generation was INR 31 crores. Electricity trading, we are at INR 26 crores. And the revenue from EPC and service concession equipment on a consolidated basis was INR 133 crores. The total revenue for the quarter was INR 190 crores. For the half year ended, we are at INR 310 crores versus 30th September 2025 half year was INR 287 crores. EBITDA for the renewable business was INR 53 crores for the current quarter versus basically same quarter last year, INR 33.4 crores. In terms of half year, the EBITDA was INR 93.7 crores versus INR 67.3 crores for the same period last year. In terms of PAT, before eliminating the losses at Energy in Motion, for the quarter, September 26, the PAT is INR 26 crores compared to 24.4 crores for last year, same period last year. In terms of half year, the PAT was INR 38.1 crores versus INR 47.4 crores compared to last year. The drop in PAT for H1 primarily because of the lower EPC and CA revenue book in the comparative period Q1 this year versus last year. Once we adjust for the losses at EIM, the PAT on a consolidated basis for the quarter ended September 26th is INR 19 crores versus INR 24.4 crores for the same period last year. In terms of half year, we are at INR 20.7 crores versus INR 46.6 crores last year. Again, the main impact is from the loss at our end, something that we would talk about once we get into the Energy in Motion business. Overall, we are looking at adding another 200 MW of operating capacity. Basically, just to put this in perspective, last year, for the year we had, I think close to about 100 MW of capacity. And this year basically, overall, it should be between 200 and 220 MW. Once fully operational, basically for Q3 we would basically have an operating capacity of about 300 MW, and in Q4, we basically will have an operating capacity of about 400 MW. The EPC revenue for the full year would be basis at 200, 220 MW capacity addition. So that's the broader picture on the renewable energy business. I will hand over to Mr. Murkumbi, for Energy in Motion, for the operating performance and financials. Over to you, sir. Narendra Murkumbi Good morning. This is Narendra Murkumbi. I'll now talked about Energy in Motion; the heavy electric vehicle business continues to show a strong outlook. We sold a 142 vehicles last quarter as compared to 58 in the first quarter. We also see a very strong tailwind in the business, and we see a strong order book coming in the next two quarters. What we've learned is that the sale, from the time of engagement to conversion into sales, the cycle is about six months, and that is one of the reasons why sales have not grown faster than they actually have in this quarter. However, as I said, the list of potential customers, the amount of interest that we have, and the pending orders purely waiting for conversion into a firm sale, due to construction, due to electrical charging infrastructure under construction is pretty strong for the rest of the year, so therefore we are guiding for a much stronger second half of this year. I think the rollout of network on our side is going well. What I can say is that the vehicle that we have launched has very strong customer satisfaction levels, uptime above 99% for most customers, and a significant number of the vehicles sold, for example, this quarter are repeat orders. People who took small trial orders in the previous quarters are now buying their second and third lot of vehicles from us, which is very reassuring. Our charging network sales were up almost 65% over the previous quarter. We have now started from this q [Showing first 8,000 characters — download PDF for full document]