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.
Gemopai, an Indian electric scooter company based in Noida, experienced a 3.8% decrease in revenue, dropping from Rs 80 crore in FY22 to Rs 77.66 crore in FY23. The company, founded by Amit Raj Singh and Bhanu Kumar, specializes in technology-driven scooters featuring swappable Lithium-ion batteries. Despite a 2% reduction in expenses to Rs 77.15 crore, Gemopai's profitability saw a sharp decline. The company reported a profit of Rs 39.03 lakhs in FY23, an 83% drop from the previous fiscal year's Rs 2.34 crore. Major expenses included material costs, with employee benefits and transportation making up 5.897% and 4.39%, respectively. The EBITDA margin was 2.29, and the ROCE was 37.45%.
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