Not only this quater, there was degrowth even in last quater as well, if you have noticed.
Q3 – 2023 – 120 Cr
Q4 – 2023 – 75 Cr.
Q1 – 2024 – 67 Cr.
Management has said in press release last quater that
“Growth curbed mainly due to new battery standards becoming effective from April 23, leading to old inventory clearance & change of battery design.”
Apart from this, subsidy blockage by goverment could also have been reason for this degrowth. – my personal view.
These are minor headwinds in what I believe is a long growth journey for this sector.
Having said that, as an investor, I will keep a close eye on management guidance and their execution. First concall is on 25th july. Lets see what their commentry and guidance is.
| Subscribe To Our Free Newsletter |
