OLA Peer’s Company EV-Penny Stock Under Rs 75 Jumps After Recording Remarkable Sales Surge: 197 Per Cent YoY Growth & 109 Per Cent MoM Increase
The shares of the company saw a spurt in volume by more than 4.73 times on BSE.
OLA Peer’s Company, Revolt Motors, a subsidiary of Rattan India Enterprises Ltd, India’s largest electric motorcycle company, has reported an impressive 197 per cent year-on-year (YoY) growth in vehicle sales and 109 per cent month-on-month (MoM) increase with 1,994 units sold in November 2024, compared to 671 units in November 2023 and 952 units in October 2024. This performance comes amidst a market environment, where the electric two-wheeler (E2W) industry witnessed an average sales decline of 18-20% during the same period, as per Govt. of India’s Vahan Portal data.
This surge in sales is largely attributed to the launch of the all-new RV1 and RV1+, affordable and commuter-friendly electric motorcycles tailored for the Indian market. The bikes have received overwhelming consumer interest, with robust pre-orders translating into strong sales figures. These models combine cutting-edge technology with affordability, offering riders a reliable and sustainable alternative to traditional ICE-powered vehicles.
Revolt Motors has significantly bolstered its presence across the country, operating through 154 dealerships nationwide. The network is set to grow further with 14 new dealerships launching by the end of December 2024, enhancing accessibility to Revolt's offerings across urban and semi-urban markets. Taking a bold step towards global leadership, Revolt Motors commenced operations in Sri Lanka on November 25, 2024—its first international market.
The launch has seen an encouraging reception, with substantial pre-orders logged within the first week, reflecting the growing demand for sustainable mobility solutions in South Asia. Building on this momentum, Revolt plans to expand into more international markets in 2025, as part of its mission to establish itself as a global leader in the electric mobility space.
On Wednesday, shares of RattanIndia Enterprises Ltd surged 5.29 per cent to Rs 72.11 per share from its previous closing of Rs 68.49 per share with an intraday high of Rs 74.27 per share and an intraday low of Rs 70.47 per share. The stock’s 52-week high is Rs 94.85 and its 52-week low is Rs 59.20. The shares of the company saw a spurt in volume by more than 4.73 times on BSE.
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About the Company
RattanIndia Enterprises Limited is a public-listed company and serves as the growth engine of the RattanIndia Group dedicated to pioneering new-age businesses. With a focus on innovative technologies, RattanIndia Enterprises is driving the transformation of various industries, including Electric Mobility (Revolt Motors), E-commerce (Cocoblu Retail), Fashion brands (Neo Brands), Fintech (WeFin), and Drones (Neosky), to impact the lives of millions of Indians positively.
According to Quarterly Results, the net sales increased by 12 per cent to Rs 1,800.62 crore in Q2FY25 compared to Q2FY24. The company reported a net loss of Rs 241.59 crore in Q2FY25. In its annual results, the net sales increased by 36 per cent to Rs 5,609.6 crore in FY24 compared to Rs 4,123.8 crore in FY23. The company reported a net profit of Rs 424.5 crore in FY24 compared to a net loss of Rs 273.5 crore in FY23, an increase of 255 per cent.
The company has a market cap of Rs 9,968 crore with a 5-year stock price CAGR of 120 per cent. The stock is up by 22 per cent from its 52-week low of Rs 59.20 per share and a whopping 3,800 per cent in 5 years. Investors should keep an eye on this Small-Cap company.
Disclaimer: The article is for informational purposes only and not investment advice.