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SUPERTECH EV LIMITED Interim / Quarterly Report 2026
60021_rns_2026-05-27_8a34f363-49e2-4bcb-ab24-5a189423914c.pdf
Interim / Quarterly Report
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16 Years of Trust
SUPERTECHEV
Date: 27/05/2026
To,
The Manager,
Listing Department
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai- 400001.
Scrip Code: 544428
Sub: Outcome of board meeting held on May 27, 2026
Ref.: Regulation 30, 32 and 33 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Dear Sir/Madam,
In reference to our letter dated May 21, 2026, for the intimating the date of Board meeting and pursuant to Regulation 30, 32 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations) we hereby inform that this is to inform you that the Board of Directors of the Company at their meeting held on today i.e. Wednesday, May 27, 2026 consider and approved the following:
a) Audited financial results for the half year and financial year ended 31st March, 2026 along with Audited Review report.
b) Statement on Deviation or Variation in utilization of funds under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
We attach herewith a copy of the approved Audited Standalone Financial Results along with the audited review report of the auditors and Statement on Deviation or Variation in utilization of funds.
The meeting of the Board of Directors commenced at 04:30 PM and concluded at...05:30 PM...
You are requested to take the above on your records and do the needful.
Thanking you
Yours faithfully,
For and on behalf of
Supertech EV Limited
SUPERTECH EV LIMITED
Head Office Unit No-1
Ground Floor, Plot No-150, HSIIDC Sector-16,
Bahadurgarh, Jhajar, Haryana, 124507
Manufacturing Unit No-2
Khasra No-144/5/2/1, Asodha Todran, Rohad,
Jhajar, Haryana, 124501
Manufacturing Unit No-3
Khewat No-395/353, Khata No-433,khasra No-53/12-53/9/,
Udyog Vihar, Back Side Hero Honda Agency, Sankhal
Village, Bahadurgarh, Jhajar, Haryana, 124507
+91-9138575465
CIN: L35999HR2022PLC105796
www.supertechev.com
Drive the Future
SUPERTECH EV LIMITED
(Formerly Known as Supertech EV Pvt. Ltd.)
PLOT NO.150 SECTOR 16, PHASE-I BAHADUR GARH, JHAJAR, HARYANA 124507
CIN : L35999HR2022PLC105796
Notes on Financial Results
-
The above Financial Results of the company have been reviewed and recommended for adoption by the Audit Committee to the Board of Directors at its meeting held on 27/05/2026.
-
These financial results of the company for the half year and year ended March 31, 2026 have been prepared in accordance with the Accounting Standards prescribed under Section 133 of the Companies Act, 2013, read with the Companies (Accounting Standards) Rules, 2021 (as amended), and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as applicable to entities listed on the BSE SME Platform.
-
The financial statements have been prepared under the historical cost convention on the accrual basis of accounting, in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP), to comply in all material respects with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2021, and other relevant provisions of the Companies Act, 2013.
-
The Company is engaged in a single business segment as per the definition under Accounting Standard (AS) 17 – Segment Reporting. Accordingly, separate segmental information has not been presented.
-
The Company successfully completed its Initial Public Offer (IPO) of 32,49,600 equity shares of face value ₹10 each at a premium of ₹82 per share, aggregating to ₹ 29,89,63,200. The issue was fully subscribed and the shares were allotted on 2nd July 2025. Accordingly, the financial results for the half year and year ended on March 31, 2026 have been prepared in accordance with SEBI (LODR) Regulation, 2015.
-
The audited financial results for the half year ended March 31, 2026 are the balancing figures between the audited financial figures of the full financial year ended March 31, 2026 and the unaudited financial results for the half year ended September 30, 2025, being the first financial results of the Company post listing, subjected to limited review and published on November 14, 2025.
-
The company has received an amount of INR 29,89.63 Lakh, being proceeds from fresh issue of equity shares. Detail of Net proceeds ad its utilisation are summarised as below:-
(₹ In Thousand)
| SI No | Object as disclosed in the DRHP | Amount disclosed in the offered DRHP | Actual Utilised Amount | Balance Amount | Remarks |
|---|---|---|---|---|---|
| 1 | Meet the working capital requirement | 1,65,000.00 | 1,65,000.00 | 0.00 | Amount has been utilised towards payment to trade creditors in accordance with the objects of the issue. |
| 2 | Repayment of borrowing (OD) | 30,000.00 | 30,000.00 | 0.00 | Amount Utilised for reducing OD outstanding in accordance with the objects of the issue. |
| 3 | General Corporate Purposes | 68,425.54 | 68,425.54 | 0.00 | Amount has been utilised towards payment to trade |
1
SUPERTECH EV LIMITED
(Formerly Known as Supertech EV Pvt. Ltd.)
PLOT NO.150 SECTOR 16, PHASE-I BAHADUR GARH, JHAJJAR, HARYANA 124507
CIN: L35999HR2022PLC105796
| creditors in accordance with the objects of the issue | |||||
|---|---|---|---|---|---|
| 4 | Underwriting and Issue Expenses | 35,537.66 | 35,537.66 | 0.00 | Amount used towards Issue Management, Legal, and Lis |
| ting Expenses in accordance with the objects of the issue. | |||||
| Total | 2,98,963.20 | 2,98,963.20 | 0.00 |
The proceeds of the Initial Public Offer (IPO), as disclosed in the Prospectus, have been fully utilised towards the working capital requirement of the Company as at the half-year ended 31 March 2026, in line with the stated objects of the IPO. There has been no deviation in the utilisation of the IPO proceeds, and the entire issue amount has been deployed as intended.
-
On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has assessed for incremental impact of these changes on the basis of the best information available, consistent with the guidance provided by the Institute of Chartered Accountants of India. There is no incremental impact on gratuity which is required to be provided in the financial results due to change in 'Wages' definition. The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect on the basis of such developments as and when notified.
-
Figures for the half year ended March 31, 2026 and March 31, 2025 represent the difference between the audited figures in respect of full financial year and the unaudited figures of six months ended September 30, 2025 and September 30, 2025 respectively
-
The figures for the previous periods have been reclassified, rearranged, or regrouped wherever necessary, to conform to the current period's presentation.
Dated: 27/05/2026
Place: Haryana
For & On Behalf of the Board of Directors of
Supertech EV limited
(Formerly Known as Supertech EV Private Limited)
For SUPERTECH EV LTD.
GETANAH SHARMA
Director)
DIN: 09777406
Director
| SUPERTECH EV LIMITED
(Formerly Known as Supertech EV Pvt. Ltd.)
PLOT NO.150 SECTOR 16, PHASE-I BAHADUR GARH, JHAJAR, HARYANA 124507
CIN: L35999HR2022PLC105796
STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST MARCH, 2026 | | |
| --- | --- | --- |
| (€ in Thousand) | | |
| Particulars | Amount as at
31/03/2026 (Audited) | Amount as at
31/03/2025 (Audited) |
| I. EQUITY AND LIABILITIES | | |
| (1) Shareholder's funds | | |
| (a) Share capital | 123586.88 | 91090.88 |
| (b) Reserve & Surplus | 382726.02 | 76914.00 |
| (2) Non-current liabilities | | |
| (a) Long Term Borrowings | 8333.33 | 18767.78 |
| (b) Deferred tax liability (net) | | |
| (c) Long Term Provisions | 1860.45 | 1242.26 |
| (3) Current liabilities | | |
| (a) Short-term borrowings | 66500.38 | 104134.02 |
| (b) Trade payables | | |
| (A) total outstanding dues of micro enterprises
and small enterprises; and | 16782.53 | 26516.65 |
| (B) total outstanding dues of creditors other than
micro enterprises and small enterprises | 84632.54 | 87924.88 |
| (c) Other current liabilities | 15414.09 | 14136.63 |
| (d) Short-term provisions | 11859.33 | 21142.09 |
| Total | 711695.54 | 441869.19 |
| II. Assets | | |
| (1) Non-current assets | | |
| (a) Property, plant and equipment & Intangible assets | | |
| (i) Tangible Assets | 24053.24 | 31697.62 |
| (ii) Intangible Assets | | - |
| (iii) Capital work-in-progress | | - |
| (iv) Intangible Assets Under Develop. | | - |
| (b) Non-Current Investment | | - |
| (c) Deferred Tax assets (Net) | 1403.10 | 850.02 |
| (d) Long-Term Loans Advances | 3893.71 | 3065.87 |
| (e) Other non-Current Assets | 31813.86 | 3011.86 |
| (2) Current assets | | |
| (a) Current Investment | | - |
| (b) Inventories | 417029.67 | 236267.05 |
| (c) Trade receivables | 174130.06 | 132034.65 |
| (d) Cash and cash equivalents | 3098.06 | 3722.90 |
| (e) Short-term loans and advances | 49598.84 | 23782.56 |
| (f) Other current assets | 6674.99 | 7436.65 |
| Total | 711695.54 | 441869.19 |
For & On Behalf of the Board of Directors of Supertech EV limited
(Formerly Known as Supertech EV Pvt. Ltd.)
LUTH DHAWAN
(CFO)
PAN: BXFPD6334P
For SUPERTECH EV LTD.
PETERSBERG SHARMA
(Managing Director)
DIN: 09702840
For SUPERTECH EV LTD.
GEERMAN SHARMA
(Director)
DIN: 09777406
Director
Place:- Haryana
Date:- 27/05/2026
SUPERTECH EV LIMITED
(Formerly Known as Supertech EV Pvt. Ltd.)
PLOT NO.150 SECTOR 16, PHASE-I RAHADUR GARH, JHAJAR, HARYANA 124507
CIN: L35999HR2022PLC105796
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE HALF YEAR AND YEAR ENDED ON 31ST MARCH, 2026
(₹ in Thousand except Per Equity Share data)
| Particulars | Half Year Ended 31/03/2026 (Audited) | Half Year Ended 31/03/2025 (Unaudited) | Half Year Ended 30/09/2025 (Unaudited) | Year Ended 31/03/2026 (Audited) | Year Ended 31/03/2025 (Audited) |
|---|---|---|---|---|---|
| Incomes: | |||||
| Revenue from Operations | 354857.60 | 397669.11 | 425521.17 | 780378.78 | 750966.68 |
| Other Income | 735.41 | 944.39 | 835.21 | 1570.63 | 944.39 |
| Total Income | 355593.02 | 398613.50 | 426356.39 | 781949.41 | 751911.08 |
| Expenses: | |||||
| Cost of material consumed | 279612.49 | 282162.44 | 329365.52 | 608978.01 | 556419.36 |
| Purchase of Stock in Trade | - | - | 11560.00 | 11560.00 | - |
| Changes in inventories of stock in trade | - | - | - | - | - |
| Changes in inventories of finished goods, work-in-progress. | 1855.57 | 5593.50 | -40106.60 | -41962.17 | -18575.40 |
| Employee's benefit expenses | 13490.81 | 13012.49 | 12957.47 | 26448.28 | 24294.51 |
| Finance Cost | 3464.12 | 5140.61 | 6466.59 | 9930.71 | 8337.91 |
| Depreciation and amortisation cost | 2799.43 | 2734.43 | 2906.06 | 5705.49 | 4795.89 |
| Manufacturing expenses | 26290.72 | 20745.24 | 27920.14 | 54210.86 | 39744.98 |
| Other expenses | 25728.99 | 27722.35 | 28399.36 | 54128.34 | 53450.75 |
| Total Expenses | 353242.13 | 357111.06 | 379468.54 | 728999.52 | 668468.00 |
| Profit (Loss) before Exceptional and Extraordinary Items and Tax | 2350.89 | 41502.44 | 46887.85 | 52949.89 | 83443.08 |
| Exceptional Items | - | - | - | - | - |
| Profit (Loss) before Extraordinary Items and Tax | 2350.89 | 41502.44 | 46887.85 | 52949.89 | 83443.08 |
| Extraordinary Items | - | - | - | - | - |
| Perior period items | - | - | - | - | -109.37 |
| Profit (Loss) before Tax | 2350.89 | 41502.44 | 46887.85 | 52949.89 | 83552.45 |
| Tax expense: | |||||
| (1) Current tax | 1742.69 | 9982.29 | 12415.47 | 14158.15 | 21678.90 |
| (2) Deferred tax | -575.99 | 155.36 | 22.92 | -553.08 | 191.70 |
| Profit/(Loss) for the period | 1184.20 | 31364.79 | 34449.47 | 39344.81 | 61681.85 |
| Earning per Equity Share: | |||||
| Face value per equity shares Rx.10/- fully paid up. | |||||
| (1) Basic | 0.11 | 1.69 | 3.21 | 3.32 | 3.70 |
| (2) Diluted | 0.11 | 1.69 | 3.21 | 3.32 | 3.70 |
(Note: EPS for respective half years are not annualised)
Dated: 27/05/2026
Place: Haryana
For & On Behalf of the Board of Directors of Supertech EV limited
(Formerly Known as Supertech EV Pvt. Ltd.)
SUPERTECH EV LIMITED
(Formerly Known as Supertech EV Pvt. Ltd.)
PLOT NO.150 SECTOR 16, PHASE-I BAHADUR GARH, JHAJAR, HARYANA 124507
CIN: L35999HR2022PLC105796
CASH FLOW STATEMENT
| Particulars | Year ended
31.03.2026 | (₹ in Thousand)
Year ended
31.03.2025 |
| --- | --- | --- |
| Cash flows from operating activities | | |
| Profit before taxation, and extraordinary item | 52949.89 | 83552.45 |
| Adjustments for: | | |
| Add: Finance Cost | 9930.71 | 8337.91 |
| Add: Provision for gratuity | 623.00 | - |
| Add: Prior Period Items | - | 109.37 |
| Less: Profit on sale of fixed Assets | -182.55 | - |
| Add: Depreciation | 5705.49 | 4795.89 |
| Operating Loss before working capital changes | 69026.53 | 96795.61 |
| (Increase)/Decrease in Inventory | -180762.62 | -97889.34 |
| (Increase)/Decrease in sundry debtors | -42095.41 | -70485.46 |
| (Increase)/Decrease in short term loans & advances | -25816.28 | -10420.60 |
| (Increase)/Decrease in other current assets | 761.66 | -1466.89 |
| (Increase)/Decrease in non current assets | -28802.01 | -759.79 |
| Increase/(Decrease) in Creditors | -13026.46 | 37041.85 |
| Increase/(Decrease) in others current liabilities | 1277.46 | 4132.87 |
| Increase/(Decrease) in others Long term loan & Advances | -827.85 | - |
| Increase/(Decrease) in Short term Provisions | - | 147.99 |
| Cash generated from operations | -220264.97 | -42903.74 |
| Less: Income taxes paid (Net of Refund) | -23445.73 | -8361.77 |
| Cash flow before extraordinary item | -243710.70 | -51265.51 |
| Cash flow from Extraordinary item | - | - |
| Less: Adjustment for earlier year | - | - |
| Net cash used in operating activities | -243710.70 | -51265.51 |
| Cash flows from investing activities | | |
| Purchase of fixed assets | -1268.59 | - |
| Sale of fixed assets | 3390.03 | -16435.04 |
| Net cash used in investing activities | 2121.44 | -16435.04 |
| Cash flows from financing activities | | |
| Finance Cost | -9930.71 | -8337.91 |
| Increase in Security Premium Account | 266467.20 | 9090.60 |
| Increase in Share Capital-Equity Share Capital | 32496.00 | - |
| Increase in Share Capital-Preference Share Capital | - | 909.06 |
| Decrease in short Term Borrowings | -37633.64 | 48738.44 |
| Decrease in long Term Borrowings | -10434.44 | 17640.76 |
| (Increase) in provision | - | 187.63 |
| Net cash (used) / flow in financing activities | 240964.41 | 68228.58 |
| Net increase in cash and cash equivalents | -624.84 | 528.02 |
| Cash and cash equivalents at beginning of period | 3722.90 | 3194.88 |
| Cash and cash equivalents at end of period | 3098.06 | 3722.90 |
Note: The above cash flow statement has been prepared under the indirect method as set out in the AS-3
Cash Flow Statement under section 133 of the company act 2013,
read with other relevant companies (accounts) Rules 2014
For & On Behalf of the Board of Directors of
Supertech EV limited
(Formerly Known as Supertech EV Pvt. Ltd.)
Dated: 27/05/2026
Place: Haryana
For SUPERTECH EV LTD.
Director
For SUPERTECH EV LTD.
GEEY NGALI SHARMA
(Director)
DIN: 09777406
CA
RAJESH KUKREJA & ASSOCIATES
CHARTERED ACCOUNTANTS
211, LSC, POCKET-B, ASHOK VIHAR
PHASE-III, DELHI - 110052
TEL: 9310910099
E-mail: [email protected]
Independent Auditor's Report on Audit of Half Year and Annual Financial Results of Supertech EV Limited (Formerly Known as Supertech EV Private Limited) pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
To
The Board of Directors of
Supertech EV Limited
(Formerly Known as Supertech EV Private Limited)
We have audited the accompanying statement of Financial Results of Supertech EV Limited (the "Company") (Formerly Known as Supertech EV Private Limited) (the "Company") for the half year and year ended March 31, 2026 (the "Statement") being submitted by the Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India ("SEBI") (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "LODR Regulations").
In our opinion and to the best of our information and according to the explanations given to us, the statement
a. is presented in accordance with the requirements of Regulation 33 of the LODR Regulations; and
b. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Accounting Standard 25 "Interim Financial Reporting" ("AS 25") prescribed under section 133 of the companies act, 2013 (the "Act"), as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India of the net profit and other financial information of the Company for the half year and year ended March 31, 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs are further described in the Auditor's Responsibilities for the Audit of the Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results for the half year and year ended March 31, 2026 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion on the Financial Results.
Management's and Board of Director's Responsibilities for the Statement
The Statement, which includes the financial results is the responsibility of the Company's board of directors and has been approved by them for the issuance. The Statement has been compiled from the related audited interim financial statements for the half year and year ended March 31, 2026.
ASSOCIATES LABORATORIES INDIA
RAJESH KUKREJA & ASSOCIATES
CHARTERED ACCOUNTANTS
CONTINUATION SHEET
This responsibility includes preparation and presentation of the financial results for the half year and year ended March 31, 2026, that give a true and fair view of the net profit and other financial information in accordance with the recognition and measurement principles laid down in AS 25, prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles, generally accepted in India and in compliance with Regulation 33 of the LODR Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with, the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the financial reporting process of the Company.
Auditor’s Responsibilities for the Audit of the Financial Results for the Half year and year ended March 31, 2026
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal financial control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of such control.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the Statement made by the Board of Directors.
RAJESH KUKREJA & ASSOCIATES
CHARTERED ACCOUNTANTS
CONTINUATION SHEET
-
Conclude on the appropriateness of the Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If, we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
-
Evaluate the overall presentation, structure, and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
-
Obtain sufficient appropriate audit evidence regarding the Statement of the Company to express an Opinion on the Statement.
Materiality is the magnitude of misstatements in the Statement that, individually or in aggregate, makes it probable that the economic decisions of a reasonable knowledgeable user of the Statement may be influenced. We consider quantitative materiality and qualitative factors in (i) Planning the scope of our audit work and in evaluating the results of our work and (ii) to evaluate the effect of any identified misstatements in the Statement.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding Independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matters
The financial results include the results for the half year ended March 31, 2026, being the balancing figure between audited figures in respect of the full financial year and the unaudited figures in respect of 1st half year of the current financial year which were subject to limited review by us. Our opinion is not modified in respect of this matter.
For Rajesh Kukreja & Associates
Chartered Accountant
FRN:-0004254N
Rajesh Kukreja
(Partner)
MDIN:-26083496 YDSFSY2750
MBNO:-083496
Place: Delhi,
Date:-27/05/2026
CA
RAJESH KUKREJA & ASSOCIATES
CHARTERED ACCOUNTANTS
211, LSC, POCKET-B, ASHOK VIHAR
PHASE-III, DELHI - 110052
TEL: 9310910099
E-mail: [email protected]
AUDITOR'S CERTIFICATE ON STATEMENT OF DEVIATION OR VARIATION IN UTILIZATION OF FUNDS RAISED THROUGH IPO
[Pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015]
To,
The Board of Directors
Supertech EV Limited
(Formerly Known as Supertech EV Private Limited)
Plot No.150, Sector 16, Phase-I, Bahadur Garh,
Jhajjar, Haryana, India – 124507
1. Management’s Responsibility for the Statement
The preparation of the Statement of Deviation or Variation and the accompanying financial information in terms of the requirements of Generally Accepted Accounting Principles (GAAP) in India and Regulation 32 of the SEBI (LODR) Regulations, 2015 is the responsibility of the Management of M/s Supertech EV Limited (“the Company”). This responsibility includes the preparation and maintenance of all accounting and other relevant supporting records, design, implementation, and maintenance of internal controls relevant to the preparation and presentation of the statement, applying an appropriate basis of preparation, and making estimates that are reasonable in the circumstances.
2. Practitioner’s Responsibility
Our responsibility is to examine the books of accounts, bank statements, and other relevant documents/records maintained by the Company and to provide a reasonable assurance that the information declared in this revised Statement is in accordance with the books of accounts and records maintained.
We conducted our examination of the Statement in accordance with the Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) issued by the Institute of Chartered Accountants of India (ICAI). The Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI.
We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements.
ESH KUKREJA & ASSOCIATES CHARTERED ACCOUNTANTS
CONTINUATION SHEET
3. Background and Fact of Deviation
We had earlier issued a utilization certificate dated 29 October 2025 (bearing UDIN: 25083496BMJQFJ9680) certifying that the Company had fully utilized the IPO proceeds amounting to ₹29,89,63,200 (₹2,989.63 Lakhs) as of 30 September 2025.
Subsequently, it was brought to our notice on 14 November 2025 that an amount of ₹3,00,000 (₹3.00 Lakhs) pertaining to the IPO proceeds remained in the Escrow Account and was omitted from being accurately reported as an unutilized bank balance as of 30 September 2025. Consequently, the actual utilization as of 30 September 2025 stood at ₹2,986.63 Lakhs. The remaining escrow balance of ₹3.00 Lakhs was subsequently transferred and fully utilized on 18 December 2025.
This certificate is issued in supersession of our earlier certificate dated 29 October 2025 to the extent of rectifying this timeline/disclosure variance.
4. Statement of IPO Proceeds and Revised Utilization Position
The Company raised gross proceeds of ₹2,989.63 Lakhs through an Initial Public Offering (IPO) by issuing 32,49,600 equity shares of ₹10 each at an issue price of ₹92 per share (including a premium of ₹82 per share).
The corrected summary of the movement of funds up to 31 December 2025 is as follows:
| Particulars | Amount (₹ in Lakhs) |
|---|---|
| Gross Proceeds realized from the IPO | 2,989.63 |
| Less: Actual Amount utilized up to 30.09.2025 | 2,986.63 |
| Actual Balance remaining in Escrow Account as on 30.09.2025 | 3.00 |
| Less: Amount transferred from Escrow Account and utilized on 18.12.2025 | 3.00 |
| Unutilized balance as on 31 December 2025 | Nil |
5. Annexure-A: Object-wise Revised Utilization Statement
The object-wise allocation as per Prospectus/DRHP, actual utilization up to 30 September 2025, subsequent utilization up to 31 December 2025, and deviations are detailed below:
JESH KUKREJA & ASSOCIATES CHARTERED ACCOUNTANTS
CONTINUATION SHEET
(Amounts in ₹ Lakhs)
| Sl. No | Object as disclosed in the DRHP | Amount disclosed in DRHP | Actual Utilised up to 30.09.2025 | Amount Utilised from 01.10.2025 to 31.12.2025 | Total Actual Utilised up to 31.12.2025 | Deviation / Variation | Remarks |
|---|---|---|---|---|---|---|---|
| 1 | Meet the working capital requirement | 1,650.00 | 1,650.00 | 0.00 | 1,650.00 | Nil | Utilised towards payment to trade creditors in line with objects. |
| 2 | Repayment of borrowing (OD) | 300.00 | 300.00 | 0.00 | 300.00 | Nil | Utilised for reducing OD outstanding in line with objects. |
| 3 | General Corporate Purposes | 684.26 | 681.26 | 3.00 | 684.26 | Nil | Timing Deviation: Escrow balance of ₹3.00 Lakhs held on 30.09.2025 was deployed on 18.12.2025 for trade creditors. |
| 4 | IPO Issue Expenses (Balancing Figure) | 355.37 | 355.37 | 0.00 | 355.37 | Nil | Fully utilized towards public issue expenses. |
| Total | 2,989.63 | 2,986.63 | 3.00 | 2,989.63 | Nil | Total utilization completely matches Gross Proceeds. |
P
RAJESH KUKREJA & ASSOCIATES CHARTERED ACCOUNTANTS
CONTINUATION SHEET
6. Opinion & Conclusion
Based on our examination of the revised books of accounts, bank statements, minutes of meetings, and information/explanations provided by the Management, we certify that:
- a. The above revised Statement of Deviation/Variation has been accurately prepared by the Management of the Company.
- b. The reporting deviation of ₹3.00 Lakhs arose solely due to the timing mismatch of funds remaining in the Escrow account as on 30 September 2025.
- c. The said balance of ₹3.00 Lakhs has been fully deployed on 18 December 2025 towards General Corporate Purposes in accordance with the objects stated in the Offer Document.
- d. There is no unutilized IPO balance remaining with the Company as of 31 December 2025.
7. Restriction on Use
This certificate is addressed and provided to verify the statutory records and books of accounts to confirm that the utilization of IPO funds aligns with the purposes specified in the prospectus. This certificate is prepared solely for the purpose of submission to BSE Limited by the Company in compliance with Regulation 32 of SEBI (LODR) Regulations, 2015, and should not be used by any other person or for any other purpose. Accordingly, we do not accept or assume any liability or duty of care for any other purpose or to any other person to whom this certificate is shown or into whose hands it may come without our prior consent in writing.
For Rajesh Kukreja & Associates
Chartered Accountants
Firm Regn No: 004254N
(Rajesh Kukreja)
Partner
M. No: 083496
UDIN: 26083496TIHSHO6870
Date: 26/05/2026
Place: Delhi
10 Years of Trust
SUPERTECHEV
STATEMENT OF DEVIATION OR VARIATION IN UTILIZATION OF FUNDS RAISED
| Name of listed entity | Supertech EV Limited |
|---|---|
| Mode of Fund Raising | Public Issues |
| Date of Raising Funds | June 25, 2025 to June 27, 2025 |
| Amount Raised | 2,989.63 Lakhs |
| Report filed for Quarter ended/ Half Year | March 31, 2026 |
| Monitoring Agency | Not applicable |
| Monitoring Agency Name, if applicable | Not applicable |
| Is there a Deviation / Variation in use of funds raised | No |
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | Not applicable |
| If Yes, Date of shareholder Approval | Not applicable |
| If Yes, Date of shareholder Approval | Not applicable |
| Explanation for the Deviation / Variation | Not applicable |
| Comments of the Audit Committee after review | Nil |
| Comments of the auditors, if any | Nil |
| Objects for which funds have been raised and where there has been a deviation, in the following table | |
| --- | --- |
| Original Object | Modifie d Object, if any |
| Meet the working Capital requirement | Not applica ble |
| Repayment borrowing (OD) | Not applica ble |
SUPERTECH EV LIMITED
Head Office Unit No-1
Ground Floor, Plot No-150, HSIIDC Sector-16, Bahadurgarh, Jhajjar, Haryana, 124507
Manufacturing Unit No-2
Khasra No-144/5/2/1, Asodha Todran, Rohad, Jhajjar, Haryana, 124501
Manufacturing Unit No-3
Khewat No-395/353, Khata No-433,khasra No-53/12-53/9/, Udyog Vihar, Back Side Hero Honda Agency, Sankhol Village, Bahadurgarh, Jhajjar, Haryana, 124507
+91-9138575465
CIN: L35999HR2022PLC105796
www.supertechev.com
Drive the Future
| Escrow balance of ₹3.00 Lakhs held on 30.09.2025 was deployed on 18.12.2025 for trade creditors. | ||||||
|---|---|---|---|---|---|---|
| Underwriting and Issue Expenses | Not applicable | 355.37 Lakhs | Nil | 355.37 Lakhs | Nil | Fully utilized towards public issue expenses. |
Note:
During the half year ended March 31 2026, the Company has completed its Initial Public Offer "IPO" of 32,49,600 Equity shares of Face value of ₹ 10/- each ("equity shares") for cash at a price of ₹ 92/- per Equity Share (including a share premium of ₹ 82/- per Equity Share) aggregating to ₹ 2,989.63 Lakhs. The equity shares of the Company got listed with SME Platform of BSE Limited on July 02 2025. The issue was made in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended.
Deviation or variation could mean:
(a) Deviation in the objects or purposes for which the funds have been raised or
(b) Deviation in the amount of funds actually utilized as against what was originally disclosed or
(c) Change in terms of a contract referred to in the fund-raising document i.e. prospectus, letter of offer, etc
For and on behalf of
Supertech EV Limited
Yetender Sharma
Managing Director
DIN: 09702846
10 Years of Trust
SUPERTECHEV
Date: 27.05.2026
To,
The Secretary
Listing Department
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai-400001
Scrip Code: 544428
Dear Sir/Madam,
Sub: Declaration under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations)
Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD/56/2016 dated 27th May, 2016 we hereby confirm and declare that the Statutory Auditors of the Company i.e. M/s Rakesh Kukreja & Associate, Chartered Accountants, (FRN: 0004254N) have issued Audited Review Report on the standalone financial result of the Company for the half and financial year ended March 31, 2026 with unmodified opinion.
You are requested to take the above on your records and do the needful.
Yours faithfully,
For and on behalf of
Supertech EV Limited
Yetender Sharma
Managing Director
DIN: 09702846
SUPERTECH EV LIMITED
Head Office Unit No-1
Ground Floor, Plot No-150, HSIIDC Sector-16, Bahadurgarh, Jhajjar, Haryana, 124507
Manufacturing Unit No-2
Khasra No-144/5/2/1, Asodha Todran, Rohad, Jhajjar, Haryana, 124501
Manufacturing Unit No-3
Khewat No-395/353, Khata No-433, khasra No-53/12-53/9/, Udyog Vihar, Back Side Hero Honda Agency, Sankhol Village, Bahadurgarh, Jhajjar, Haryana, 124507
+91-9138575465
CIN: L35999HR2022PLC105796
www.supertechev.com
Drive the Future