Q3FY2024:
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Highest ever EBITDA and Net Profit
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Order Book of 24,000 Cr (79% is EV)
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Added 5 new EV Programs and 2 new EV customers.
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Now have 53 EV programs across 30 unique customers.
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The Company faced the following challenges
- Off highway market weak (particularly in India) - effected sales of differential gears and differential assemblies
- Weakness in two wheeler traction motors in India- this is expected to continue for a few months
- Red Sea crisis
- There was strike in US as well, which led to revenue loss of 25 crore
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In 2023, the company has increased its global market share in both differential gears and starter motors.
“We are certain that electrification will continue to drive strong growth for us non the immediate, in the medium as well as the long term”.
Outlook on india
Disclosure: Invested
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