Greaves Cotton surges on e-mobility division's 2 lakh 2-wheelers sales

Greaves Cotton’s e-mobility division - Greaves Electric Mobility (GEMPL) has 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.

Ampere has been at the forefront of India’s electric vehicle revolution for the past few years, providing accessible and eco-friendly mobility solutions since its establishment. With a diverse product range that includes Zeal, Magnus, and Primus, Ampere caters to the specific needs of personal mobility and last-mile e-commerce customers. This milestone underscores Ampere’s ability to deliver dependable, efficient, and affordable electric mobility solutions that address the requirements of a diverse customer base.

Furthermore, 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 135.85, with a high and low of Rs 140.05 and Rs 134.65. The stock is currently trading at Rs 139.35, up by 3.68%.