Shares of RattanIndia Enterprises Ltd, which pursues in e-commerce, electric vehicles, and drones, rose 5 percent following its Sri Lankan market access with the inauguration of its launching electric bikes.
Share Price Movement
The share price of RattanIndia Enterprises Ltd increased 4.86 percent to an intraday high of Rs. 83.9 during the most recent trading session, from its previous close of Rs. 80.01. Since then, the share price has dropped to Rs. 80.95. In the months after its March 2021 IPO, the stock has returned more than 1330 percent.
Rationale for the Rise
The leading electric motorcycle manufacturer in India, Revolt Motors, a division of RattanIndia Enterprises Ltd., has declared its debut into the Sri Lankan market.
With its cutting-edge, high-performance electric motorcycles that are customized to meet a range of rider needs, Revolt Motors hopes to revolutionize the mobility landscape of Sri Lanka in collaboration with Evolution Auto Pvt Ltd, a significant participant in the nation’s automotive industry.
Revolt Motors intends to build a network of 90 dealerships throughout Sri Lanka by 2029 as part of their expansion strategy.15 showrooms will open in the next four months as part of the first phase, in response to the growing demand for electric vehicles.
The electric motorcycles with AI capabilities from Revolt Motors provide a smart and connected ride. Riders may choose their preferred riding modes, music profiles, and tracking performance with the Revolt App.
All models, which appeal to both thrill-seekers and everyday commuters, will be offered in Sri Lanka. Every trip is made more memorable by these colorful, emission-free motorcycles that combine comfort, speed, and technology.
Management Commentary
The parent company of Revolt Motors, RattanIndia Enterprises Limited, is led by Ms. Anjali Rattan, who made the following announcement: “Our entry into Sri Lanka is not just a business move; it is a commitment to driving the global transition to sustainable mobility. We have no doubt that Sri Lankans would value freedom, creativity, and environmental awareness, all of which Revolt Motors promotes. We have only just begun the process of ensuring that everyone has access to efficient and clean transportation.”
Financials
RattanIndia Enterprises Limited recorded an impressive net profit of Rs. 851 crore for the quarter ended June 2024, a sharp 378 percent increase from Rs. 178 crore in Q1 FY24. Operational revenue shot up to Rs. 2,494 crore, a significant 96.68 percent increase over Rs. 1,268 crore during the same period.
