The electric vehicle (EV) sector in India is rapidly evolving, driven by government incentives, environmental concerns, and technological advancements. With the increasing adoption of EVs, the industry is poised for significant growth, offering opportunities for sustainable transportation and economic development.
Here are three EV stocks with ROCE/ROE of up to 36.97%.
Tata Motors Ltd
Tata Motors Limited is a global automobile manufacturing company. The Company’s diverse portfolio includes a range of cars, sports utility vehicles, trucks, buses, and defense vehicles. Its segments include automotive operations and other operations.
With a market capitalization of Rs 3.12 lakh crore, the shares were trading at Rs 940 per share, increasing around 0.12 percent as compared to the previous closing price.
The company’s profitability measures show an incline in return on equity (RoE) from 5.32 percent in FY 22-23 to 36.97 percent in FY 23-24, while, during the same period return on capital employed (RoCE) increased from 6.45 percent to 19.39 percent. In contrast, the net profit margin (NPM) was 7.10 percent in fiscal years 23-24.
The company’s revenue stood at Rs 1,19,986 crore in Q4FY24, during the same time frame, net profit stood at Rs 17,282 crore.
Bajaj Auto Ltd
Bajaj Auto Limited is an Indian producer of two-wheelers, three-wheelers, and quadricycles. The company develops, manufactures, and distributes automobiles, including motorbikes, commercial vehicles, electric two-wheelers, and components.
With a market capitalization of Rs 2.68 lakh crore, the shares were trading at Rs 9,606.00 per share, decreasing around 0.98 percent as compared to the previous closing price.
The company’s profitability measures show an incline in return on equity (RoE) from 20.63 percent in FY 22-23 to 26.61 percent in FY 23-24, while, during the same period return on capital employed (RoCE) increased from 24.61 percent to 32.50 percent. In contrast, the net profit margin (NPM) was 16.58 percent in fiscal year 23-24.
The company’s revenue stood at Rs 11,554 crore in Q4FY24, during the same time frame, net profit stood at Rs 1,927 crore.
Ashok Leyland Ltd
Ashok Leyland Limited’s primary activities include manufacturing, sales, car and home financing, IT services, and services relating to a diverse variety of commercial vehicles. The company also manufactures industrial and marine engines, forgings, and castings.
With a market capitalization of Rs 66,143.02 crore, the shares were trading at Rs 226.70 per share, increasing around 0.42 percent as compared to the previous closing price.
The company’s profitability measures show an incline in return on equity (RoE) from 14.50 percent in FY 22-23 to 27.58 percent in FY 23-24, while, during the same period return on capital employed (RoCE) increased from 13.33 percent to 17.46 percent. In contrast, the net profit margin (NPM) was 5.85 percent in fiscal year 23-24.
The company’s revenue stood at Rs 13,578 crore in Q4FY24, during the same time frame, net profit stood at Rs 934 crore.
Written by:- Abhishek Singh
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