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
- 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
- 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
- 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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