Shares of this small-cap company, which specializes in e-commerce, electric vehicles, and drones, soared 5 percent following its Sri Lankan market entry with the launch of its inaugural electric bikes.
Share Price Movement
In Monday’s trading session, RattanIndia Enterprises Ltd‘s share price jumped 4.86 percent to an intra-day high of Rs.83.9, up from its previous close of Rs.80.01. The price has since eased to Rs.80.95 per share. Since its March 2021 listing, the stock has delivered a return of over 1330 percent.
Rationale for the Rise
Revolt Motors, a subsidiary of RattanIndia Enterprises Ltd and India’s top electric motorcycle company, has announced its entry into the Sri Lankan market.
Partnering with Evolution Auto Pvt Ltd, a key player in Sri Lanka’s automotive sector, Revolt Motors aims to transform the country’s mobility landscape with its advanced, high-performance electric motorcycles tailored to a variety of rider needs.
As part of its growth strategy, Revolt Motors plans to establish a network of 90 dealerships across Sri Lanka by 2029. The first phase will see 15 dealerships open within the next four months, responding to rising demand for electric mobility.
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Revolt Motors’ AI-enabled electric motorcycles offer a smart, connected riding experience. With the Revolt App, riders can customize sound profiles, select riding modes, and track performance.
All models will be available in Sri Lanka, catering to both thrill-seekers and daily commuters. Combining speed, comfort, and technology, these vibrant, zero-emission bikes add a personal touch to every ride.
Management Commentary
Speaking on the announcement, Ms. Anjali Rattan, Chairperson of RattanIndia Enterprises Limited, the parent company of Revolt Motors, stated, “Our entry into Sri Lanka is not just a business move; it is a commitment to driving the global transition to sustainable mobility.
We are confident that the people of Sri Lanka will embrace the freedom, innovation, and environmental consciousness that Revolt Motors stands for. This is just the beginning of our journey in making clean and efficient transportation accessible to everyone.”
Financials
For the quarter ending June 2024, RattanIndia Enterprises Limited reported a remarkable net profit of Rs.851 crore, marking a dramatic 378 percent increase from Rs.178 crore in Q1 FY24. Revenue from operations soared to Rs.2,494 crore, reflecting a substantial 96.68 percent rise from Rs.1,268 crore in the same period.
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About the company
RattanIndia Enterprises Limited, a key growth driver for the RattanIndia Group, is at the forefront of new-age industries.
By focusing on innovative technologies, it is transforming sectors such as Electric Mobility (Revolt Motors), E-commerce (Cocoblu Retail), Fashion (Neo Brands), Fintech (WeFin), and Drones (Neosky), aiming to make a positive impact on millions of lives in India.
Written by – Siddesh S Raskar
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