These companies typically exhibit lower financial risk, as a debt-to-equity ratio under 1 indicates reduced reliance on debt, enhancing stability. Additionally, their affordable stock prices make it easier for a broader range of investors to enter the growing EV market.
Here is a list of a few EV stocks trading below Rs.200 per share and debt-to-equity below 1
Servotech Power Systems Limited
Servotech Power Systems Limited is focused on enhancing the EV charging infrastructure by constructing a state-of-the-art manufacturing facility for essential EV charger components, such as power modules and control circuits.
With a market capitalization of Rs.2,941 crore, the share price of Servotech Power Systems Limited closed at Rs.134.57 per share, 0.51 percent higher than its previous close. The debt-to-equity ratio of the company is 0.63 depicting lower dependence on debt.
For the quarter ended June 2024, the company reported revenue from operations of Rs.112.19 crore and profit after tax of Rs.4.49 crore. In terms of return ratios, the company reported ROCE (Return on Capital Employed) as 11.4 percent and ROE ( Return on Equity) as 10.5 percent.
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Greaves Cotton Limited
Greaves Cotton Limited, through its electric mobility division, Greaves Electric Mobility Private Limited (GEMPL), significantly contributes to the electric vehicle (EV) sector in India. The company has established itself as a key player by offering a diverse range of electric two-wheelers and three-wheelers under its Ampere brand.
With a market capitalization of Rs.4,098 crore, the share price of the company closed at Rs.176.25 per share, 1.09 percent higher than its previous close. The debt-to-equity ratio of the company is 0.06 depicting higher flexibility in decision-making.
For the quarter ended June 2024, Greaves Cotton Limited reported revenue from operations of Rs.639.7 crore and a net loss of Rs.0.16 crore. In terms of return ratios, the company reported ROCE (Return on Capital Employed) as 3.72 percent and ROE ( Return on Equity) as 1.62 percent.
Samvardhana Motherson International Ltd
Samvardhana Motherson International Limited (SAMIL) is actively expanding its role in the EV sector, with its order book reaching Rs. 56,356 crore, 37 percent of which is allocated to electric vehicles. The company supplies various EV components, such as lightweight bumpers and HVAC (Heating, Ventilation, and Air Conditioning) systems for electric buses.
With a market capitalization of Rs.1.33 lakh crore, the share price of the company closed at Rs.197.6 per share, 1.93 percent higher than its previous close. The debt-to-equity ratio of the company is 0.76 reducing the risk of financial distress.
For the quarter ended June 2024, Samvardhana Motherson International Limited reported revenue from operations of Rs.28,868 crore and a net profit of Rs.1,097 crore. In terms of return ratios, the company reported ROCE (Return on Capital Employed) as 13.7 percent and ROE ( Return on Equity) as 11.8 percent.
Urja Global Limited
Urja Global Limited is investing Rs. 2 billion to set up manufacturing units for lithium-ion batteries and electric vehicles in Andhra Pradesh. The company produces electric rickshaws and carts and is developing advanced battery management systems for EVs.
With a market capitalization of Rs.1,196 crore, the share price of the company closed at Rs.22.77 per share, 1.2 percent higher than its previous close. The debt-to-equity ratio of the company is 0.03 showcasing lower reliance on debt for financing
For the quarter ended June 2024, Urja Global Limited reported revenue from operations of Rs.10.38 crore and a net profit of Rs.0.33 crore. In terms of return ratios, the company reported ROCE (Return on Capital Employed) as 1.87 percent and ROE ( Return on Equity) as 1.18 percent.
Wardwizard Innovations & Mobility Limited
Wardwizard Innovations & Mobility Limited aims for 100 percent localization in electric vehicle manufacturing by setting up an EV ancillary cluster in Vadodara for essential components like chargers and batteries.
With a market capitalization of Rs.1,447 crore, the share price of the company closed at Rs.55.52 per share, 1.02 percent higher than its previous close. The debt-to-equity ratio of the company is 0.82 depicting better financial stability.
For the quarter ended June 2024, Wardwizard Innovations & Mobility Limited reported revenue from operations of Rs.48.92 crore and a net profit of Rs.2.42 crore. In terms of return ratios, the company reported ROCE (Return on Capital Employed) as 17.8 percent and ROE ( Return on Equity) as 14.8 percent.
Written by – Siddesh S Raskar
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