Gemopai, an automotive tech company, witnessed a slight 3.8% drop in its overall revenue from FY22’s Rs 80 crore to FY23’s Rs 77.66 crore. The entirety of the operating revenue came in from its sales.
Headquartered in Noida, the Amit Raj Singh and Bhanu Kumar founded firm is an Indian electric scooter company providing technology-led vehicles with an emphasis on low per kilometer cost. Its scooters feature swappable Lithium-ion battery packs for optimal performance and convenient charging. The product lineup includes Astrid Lite, Ryder, Ryder Supermax, and Miso models.
As for expenses, it saw a 2% drop to Rs 77.15 crore in the fiscal year ending March 2023 as compared to the preceding fiscal’s Rs 78 crore.
The cost of materials consumed a majority of FY23’s expenses. While employee benefits contributed 5.897%, transportation and distribution charges were 4.39%.
Despite the reduction in revenue and expenses, Gemopai’s profitability took a significant hit. The company reported a profit of Rs 39.03 lakhs in FY23, a sharp 83% decline from FY22’s Rs 2.34 crore. Its EBITDA margin stood at 2.29 and the ROCE was at 37.45%.