Daily BriefsIndia

Daily Brief India: Ola Electric, CMS Info Systems Ltd and more

In today’s briefing:

  • Ola Electric IPO – RHD Updates: Strong Improvement in Financials
  • Slower E2Wheeler Sales with Lower Incentives: Ola Makes Lemonade when Market Throws Lemons
  • CMS Info Systems- Forensic Analysis


Ola Electric IPO – RHD Updates: Strong Improvement in Financials

By Shifara Samsudeen, ACMA, CGMA

  • Ola Electric is a vertically integrated pure EV player in India with both technology and manufacturing capabilities for EVs and EV components (including battery packs, motors and vehicle frames).
  • The company’s much awaited IPO is opening for subscription on Friday, and this insight focuses on new data points from the company’s latest Red Herring document (RHD).
  • Our analysis shows that the company’s top line has continued to expand driven by volume while there has been significant reduction in operating losses in FY03/2024.

Slower E2Wheeler Sales with Lower Incentives: Ola Makes Lemonade when Market Throws Lemons

By Devi Subhakesan

  • India’s electric 2-wheeler sales nosedived after March 2024 as the government reduced incentives.
  • The price gap between electric 2-wheelers and their ICE counterparts has widened significantly with lower incentives.
  • Despite the overall slowdown, Ola Electric (1700674D IN) ‘s steep market share rise highlights its product prowess, competitive pricing capabilities, and strong brand.

CMS Info Systems- Forensic Analysis

By Nitin Mangal

  • CMS Info Systems Ltd (CMSINFO IN) is the market leader in the Indian cash management and managed services industry. 
  • The company has shown good growth in recent years, and this has mostly come from the managed services and card market.
  • Among major forensic takeaways, the company has been taking continuous hit on its debtors which undermines the growth quality. Cautious must also be given to payables, depreciation rate and ESOPs.

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