Okinawa Revenue in FY24: Indian EV Company Okinawa Autotech Reports 87% Drop in Revenue Amid Falling Sales, Posts INR 52 Crore Loss
Indian EV company Okinawa Autotech has reported an 87% drop in revenue amid falling sales in FY24. It posted a loss of INR 52 crore for the financial year.
New Delhi, April 14: Homegrown electric two-wheeler manufacturer Okinawa Autotech has reported a steep 87 per cent drop in revenue in FY24. The company슬롯사이트™s revenue from operations slipped to just Rs 182 crore in FY24 from Rs 1,144 crore in the previous financial year, according to its latest financials. Okinawa also posted a loss of Rs 52 crore in FY24, a sharp contrast to the Rs 166 crore of earnings before interest, taxes, depreciation and amortisation (EBITDA) it had recorded in FY23.
The company슬롯사이트™s operating margins and return on capital employed (ROCE) also took a major hit, with EBITDA margin falling to (-)25.8 per cent and ROCE to (-)102 per cent. For every rupee Okinawa earned in FY24, it spent Rs 1.38, as per its financials. The company슬롯사이트™s total sales crashed from 95,931 units in FY23 to just 20,873 units in FY24. This sharp drop also reflected in its market share, which declined from 13.17 per cent to 2.20 per cent.슬롯 머신 사이트 추천iPhones, Smartphones, Tablets and Laptops Exports From India to US Will Be 20% Cheaper Than China Following Donald Trump Exemptions on Tariff: ICEA.
The current fiscal year (FY25) hasn't shown much improvement either, with only 3,548 units sold so far, translating to a mere 0.31 per cent market share. However, the company tried to cut down its expenses as revenues dropped. Its procurement costs reduced by 80 per cent to Rs 171 crore, employee costs dropped 16 per cent to Rs 26 crore, and advertising spend was slashed by 88 per cent to Rs 4 crore. Still, total expenses stood at Rs 251 crore in FY24, down from Rs 991 crore in the previous year. By the end of FY24, Okinawa had total current assets worth Rs 276 crore.슬롯 머신 사이트 추천Stock Market Holiday Today: Is Share Market Open or Closed on April 14 for Ambedkar Jayanti 2025? Know if Trading Will Happen on NSE and BSE.
Okinawa has been struggling to keep up with rising competition and changing market expectations, market analysts noted. Analysts say Okinawa슬롯사이트™s downfall stems from multiple issues, including fire-related safety concerns, stricter regulatory norms, and a significant loss of consumer trust. "The EV market in India is now maturing, and companies are under more pressure than ever to maintain product quality, innovate consistently, and meet safety standards," an analyst mentioned.
(The above story first appeared on LatestLY on Apr 14, 2025 03:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).