India’s leading technology company has made a significant foray into the Sri Lankan market. The highly anticipated launch of its flagship models, the RV400 and RV400 BRZ, marks a notable milestone in Sri Lanka’s journey towards sustainable mobility.
The event, attended by industry leaders and enthusiasts, showcased the advanced features and capabilities of these electric motorcycles. With a range of up to 160 km on a single charge and a top speed of 85 km/h, the RV400 is designed to cater to the needs of both urban commuters and those seeking longer journeys.
Notably, the motorcycles boast customisable riding modes, AI-enabled connectivity, and innovative features that prioritise sustainability. This aligns with the company’s commitment to empowering individuals and communities with cleaner, more efficient transportation solutions, contributing to Sri Lanka’s shift towards a greener future.
Share Price Movement
The share price of Rattanindia Enterprises Limited went up by 5.35 percent to Rs. 67.34 per share on Thursday, an increase from its previous close of Rs. 63.92 per share. The market capitalisation now stands at approximately Rs. 9,077 crore as of November 28, 2024.
What Happened
Revolt Motors, India’s largest electric motorcycle company, has made a significant move into the Sri Lankan market. The company’s highly anticipated debut in the island nation has marked a noteworthy milestone in Sri Lanka’s journey towards sustainable mobility. With the launch of its flagship models, the RV400 and RV400 BRZ, the company aims to redefine the two-wheeler segment by offering advanced technology and a focus on sustainability.
The launch event, graced by the presence of industry leaders and enthusiasts, showcased the RV400’s capabilities, which include a range of up to 160 km on a single charge and a top speed of 85 km/h. This makes the RV400 a perfect choice for both urban commuting and longer journeys. The motorcycles also feature customisable riding modes, AI-enabled connectivity, and innovative features that cater to the needs of Sri Lankan riders.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Rattanindia Enterprises’s consolidated revenue from operations has increased by 11.51 percent YOY from Rs. 1,615 crore in Q2 FY24 to Rs. 1,801 crore in Q2 FY25 and decreased by 27.7 percent QoQ from Rs. 2,494 crore in Q4 FY24.
The company’s consolidated net profit has turned negative from Rs. 140 crore in Q2 FY24 to a negative Rs. 242 crore in Q2 FY25. This change is mostly due to increased material cost being more than the revenue earned by the company for Q2 FY25.
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Market Outlook
The India Electric Bike Market is experiencing rapid growth, projected to increase from USD 1.9 billion in 2023 to USD 4.5 billion by 2032, with a CAGR of 11.50%. Rising fuel costs, government incentives, and environmental concerns are key drivers of this expansion.
Electric bikes are becoming popular due to their cost-effectiveness, eco-friendliness, and government support through subsidies and tax exemptions. Market growth is also supported by technological advancements, such as smart e-bike systems, and rising consumer awareness of health and environmental benefits.
Shareholding Pattern
As of the November 2024 shareholding pattern, Rattanindia Enterprises Limited is primarily held by the promoters at 74.86 percent, foreign institutional investors hold 4.83 percent, and the public with 20.11 percent.
About Company
RattanIndia Enterprises Limited, established in 2010, has emerged as a dynamic player in India’s technology and e-commerce sectors. Headquartered in Aerocity, New Delhi, the company rebranded itself in 2021 to reflect its tech-focused ambitions. RattanIndia drives innovation across multiple high-growth industries, aiming to reshape India’s economic landscape.
The company operates diverse business segments, making a significant impact in e-commerce, electric vehicles, fintech, and drones. Its subsidiary Cocoblu Retail offers a wide range of trendy fashion apparel and accessories. Through Revolt Motors, RattanIndia leads the electric motorcycle market, promoting sustainable mobility.
Fintech platform Wefin simplifies access to financial products, while NeoSky India delivers cutting-edge drone solutions via its Drone-as-a-Service model. Additionally, RattanIndia provides consultancy services, focusing on HR, payroll, and project management.
RattanIndia Enterprises prioritises innovation, accountability, and customer-centricity. Under the leadership of Anjali Rattan Nashier, the company continues to expand its footprint, driving India’s technological progress and sustainable growth.
Written By Fazal Ul Vahab C H
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