New-firm that has multiple businesses including manufacturing electric vehicles and drones jumped 2 percent as it launched a new drone for delivery purposes of eCommerce and Healthcare industries.
At 12:38 p.m. the shares of Rattanindia Enterprises were trading at Rs. 80.40, up 2.36 percent from its previous day’s close price of Rs. 78.55 and its market capitalization is Rs. 11,114 Crores. It has delivered multi-bagger returns of 108 percent in the last six months.
Rattanindia Enterprises has launched a new compact delivery drone L07 for eCommerce and healthcare industries through its company TAS (Throttle Aerospace Systems).
L07 drone is designed, developed & manufactured in India, targeting specifically for use cases where the payloads are small. L07 is a VTOL (Vertical Take-Off and Landing) with a carrying capacity of up to 7 kgs, which can be deployed by a single person in less than 5 minutes, with an endurance of up to 30 minutes.
It comes with many fail-safe features, supported by AI features, and is IP52 resistant, it will be commercially available for deployment within the cargo drone operations as prescribed by DGCA (Directorate General of Civil Aviation).
As per the market estimates, the Indian e-commerce industry is likely to move from $75 Bn to $276 Bn by 2030 at a CAGR of 24% YoY. There is a need for speed and every company wants to deliver products to their customers at a quick pace. Also, there are emergencies where everything becomes time-sensitive. These trends are acting as the tailwinds for the cargo delivery market across First-mile, Mid-mile, and last-mile delivery.
Recently Rattanindia Enterprises was featured in the prestigious December 2023 edition of Fortune 500, which is a significant accomplishment for the Company.
RattanIndia Enterprises has multiple businesses, it maintains an e-commerce platform in the name of Cocoblu Limited manufactures and sells drones and electric vehicles called Revolt which is one of the leading e-bikes in India, and many more.
In FY23, it generated 98.73 percent of its revenue from the sale of goods through the e-commerce marketplace, 1.20 from the Sale of bikes/drones, and the rest 0.07 percent from the sale of traded goods/spare parts.
In FY23, the company’s revenue from operations grew 29,376 percent from Rs. 13.99 Crores in FY22 to Rs. 4,123.79 Crores in FY23, accompanied by profits of Rs. 553.86 Crores to a loss of Rs. 284.57 Crores.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold a 74.86 percent stake, Domestic Institutional Investors hold 0.04 percent and Foreign Institutional Investors hold 9.40 percent.
RattanIndia Enterprises Limited is a new-age firm having multiple businesses which include e-commerce, electric vehicles, fintech, and drones.
Written by: Bharath K.S
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