Bullish indicating open at $55-$60, IPO prices at $37
GRAND CAYMAN - SRIVARU Holding Limited (NASDAQ:SVMH, SVMHW), a manufacturer of electric motorcycles, has commenced customer deliveries of its PRANA 2.0 series, which includes the PRANA Grand and PRANA Elite models, marking the start of the company's revenue generation phase. The announcement follows the receipt of CMVR certification from the Indian Road Transport Authority, confirming compliance with India's safety and environmental standards.
The PRANA 2.0 series promises a superior riding experience with advanced technology, including a driving range of 250 kilometers per charge and acceleration from 0 to 60 km/h in under 4 seconds. The motorcycles also feature IoT-enabled smart clusters with LTE and Bluetooth connectivity and an advanced Controller Area Network (CAN) that integrates artificial intelligence for enhanced vehicle monitoring.
Mohanraj Ramasamy, CEO of SRIVARU, expressed enthusiasm about the milestone and the company's contribution to a cleaner future in India. He emphasized the alignment of SRIVARU's products with the country's economic transformation and the rising demand for premium, user-focused products.
The company has established a strong supply chain and an advanced manufacturing facility with an automated test line, which enables efficient certification, sales, and delivery of its products. With this infrastructure, SRIVARU aims to realize gross profit on each sale and drive positive revenue growth.
SRIVARU's entry into the electric two-wheeler segment in India, one of the largest markets for such vehicles, is a strategic move to capitalize on the increasing shift towards sustainable transportation options.
The information in this article is based on a press release statement from SRIVARU Holding Limited.
In other recent news, SRIVARU Holding Limited, a producer of premium electric motorcycles, has achieved a significant milestone by obtaining certification from India's Central Motor Vehicles Rules (CMVR) for its PRANA 2.0 electric motorcycle models. This certification is a crucial step for SRIVARU's entry into the Indian electric two-wheeler market, underlining the company's commitment to quality and innovation. The PRANA 2.0 series caters to urban commuters and environmentally conscious riders and sets new standards in the premium electric motorcycle segment in India.
The CMVR certification opens up substantial market opportunities for SRIVARU in India, a country experiencing rapid growth in the electric vehicle market. This development allows SRIVARU to proceed with full commercial operations and delivery planning. CEO of SRIVARU, Mohanraj Ramasamy, has expressed confidence in the company's ability to deliver a product that combines appeal, innovation, and performance.
In other corporate events, SRIVARU Holding Limited has announced its upcoming Annual General Meeting of Shareholders. The company has made all necessary preparations, ensuring regulatory compliance and transparency. While the specific agenda for the meeting has not been disclosed, such events usually involve critical decisions like the election of directors and approval of financial statements. The company has shown its commitment to active shareholder participation in corporate governance.
InvestingPro Insights
As SRIVARU Holding Limited (NASDAQ:SVMH) enters its revenue generation phase with the delivery of its PRANA 2.0 series, investors should be aware of some key financial metrics and insights provided by InvestingPro.
Despite the company's optimistic outlook, InvestingPro data reveals that SRIVARU's revenue for the last twelve months as of Q4 2024 was just $0.04 million, with a concerning revenue growth rate of -62.16%. This suggests that the company is still in its early stages of commercialization and faces significant challenges in scaling its operations.
InvestingPro Tips highlight that SRIVARU is "quickly burning through cash" and "suffers from weak gross profit margins." These factors are critical for investors to consider, especially given the capital-intensive nature of the electric vehicle industry and the company's ambitious growth plans.
The company's market capitalization stands at $3.23 million, reflecting its current small-scale operations. However, the stock's performance has been concerning, with InvestingPro data showing a one-year price total return of -96.24% as of the latest available data. This aligns with the InvestingPro Tip that the "stock has fared poorly over the last month" and "price has fallen significantly over the last year."
For investors interested in a deeper analysis, InvestingPro offers 16 additional tips for SRIVARU Holding Limited, providing a more comprehensive view of the company's financial health and market position.
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