• Q1 performance: Revenue grew by over 60%, though EBITDA margins were pressured by raw material prices, forex fluctuations, and higher financing costs related to new investments. Profitability is expected to improve with production ramp-ups in Q2 and Q3.
• Capacity expansion: Debt levels remain low despite investing Rs 200 crore in a new plant, which has established a manufacturing capacity of 2,500 units in a single shift and 5,000 units across two shifts.
• Order book: The current order book exceeds 8,000 units to be delivered over two years, with target deliveries of 2,000 to 2,500 vehicles planned for the current year.
• BEST order update: Production of the new model for the delayed BEST electric bus order has commenced, with deliveries scheduled to start next month.