Ravindra Energy boosts director's pay, targets 1 GW renewable capacity

Ravindra Energy Limited's board of directors approved an upward revision in the total remuneration for Dr. Vidya Murkumbi, whole-time director, from 1.01 crore to 3 crore rupees per annum, including rent-free accommodation. This decision followed a special resolution passed at the 45th Annual General Meeting held earlier the same day.

The company's 45th Annual General Meeting also detailed plans to expand its renewable energy capacity to 500 MW by March 2027 and target 1 GW by March 2028, with 158 MWp already commissioned. Ravindra Energy aims to raise up to 500 crore rupees through a qualified institutional placement (QIP) to fund growth in both its renewable energy and electric vehicle (EV) segments.

In the EV sector, the company's associate, Energy In Motion Private Limited, is establishing an assembly plant in Pune for electric trucks and has already sold approximately 125 vehicles. The Annual General Meeting also ratified the remuneration of cost auditors for FY2025-26 and approved the appointment of secretarial auditors for five consecutive years.