Greaves Cotton has entered into a collaboration with ReadyAssist, which is a leader in the vehicle assistance industry, bringing full-stack after-sales and service support to its fleet customers. Under this agreement, ReadyAssist will cater to Ampere’s fleet of vehicles to ensure smooth operations, minimal downtime, and maximum business efficiency for Ampere’s fleet customers.
Ampere is one of the leaders in Electric 2W and offers a unique product and service value proposition to its rapidly growing base of fleet mobility partners across every major pin-code of the country. With this collaboration, ReadyAssist will be equipping Ampere with round-the-clock services supported by its proprietary technology platform.
Earlier last month, Greaves Cotton’s e-mobility division - Greaves Electric Mobility (GEMPL) achieved more than 200,000 secondary sales of its ‘Ampere’ brand electric 2-wheelers as of the first quarter of fiscal year 2024. This achievement highlights Ampere’s commitment to transforming urban transportation and promoting the adoption of electric 2-wheelers nationwide. In April, the Company announced surpassing the 100,000 sales milestone of its ‘Ampere’ brand electric 2-wheelers in the fiscal year 2023.
In Q4FY23, the revenue of the company stood at Rs 826.94 crore which increased by 33.2% YoY. The operating profit of the company stood at Rs 72.72 crore, which increased by 44.57% YoY, while the PAT of the company increased by 60.33% YoY, staying at Rs 29.02 crore.
Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of over 160 years impacting a million lives every day. The company is engaged in the manufacturing of engines, engine applications, and trading of power tillers, spares related to engines, electric vehicles and infrastructure equipment, etc.
Today, the stock opened at Rs 137.85, with a high and low of Rs 142.75 and Rs 137.60. The stock is currently trading at Rs 141.30, up by 2.32%.
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