Nature of the Event

Execution of a framework agreement for EV charging services.

Key Terms and Structure of the Agreement

  • The Company will install, own, operate, and maintain electric vehicle charging stations under its "MEGACHARGE" brand at sites mutually agreed with Safexpress.
  • The arrangement is designed to support the charging requirements of electric vehicles deployed in Safexpress's logistics operations.
  • Each location will be added through a separate Site Annexure following a feasibility assessment.
  • The Master Agreement supersedes a prior EV Charging Service Agreement dated 29 April 2026 for a site at Agra, Uttar Pradesh. The Agra site will be governed by the Master Agreement upon execution of its Site Annexure.

Operational and Commercial Details

  • The Company acts as the Charge Point Operator.
  • Charging is supplied on a prepaid basis to transport vendors engaged by Safexpress and to vehicles owned by Safexpress.
  • The tariff per unit (KWh) comprises a pass-through energy component and a margin component for the Company.
  • Safexpress guarantees a minimum monthly consumption at each site and pays the Company's margin on any shortfall.
  • Safexpress and its vendors will use the Company's charging station exclusively at the site premises.

Timelines and Term

  • Each charging station is to be commissioned within 60 days as per the terms.
  • The term for each site is 10 years from its commissioning date, extendable by 3 years by mutual consent.
  • Safexpress may terminate any site on 90 days' notice.

Financial Considerations

  • No aggregate contract value is committed under the Master Agreement.
  • The minimum guaranteed consumption and the Company's margin rate for each site are specified in the individual Site Annexure.
  • Actual revenue will depend on the number of sites commissioned and the units of energy consumed at them.

Counterparty Information

The contract is awarded by Safexpress Private Limited (CIN: U64120HR1996PTC108801), a domestic entity based in Gurgaon, Haryana.

Related Party and Arm's Length Status

The contract is not a related party transaction and is conducted at arm's length. The promoter, promoter group, or group companies have no interest in Safexpress Private Limited.