Tata Consultancy Services Ltd: Revenue Beats Expectations, But Margins Miss

BUY

CMP: Rs3860  |

Target Price: Rs4150

* Q3FY22 revenue exceeded our expectation, while EBITM missed the estimate. Revenue grew 3.9%/15.4% QoQ/YoY in CC terms. EBITM declined by ~60bps QoQ to 25%, due to an increase in compensation costs, higher subcontracting expenses and discretionary non-manpower costs.

* Revenue growth was broad-based, and all verticals posted double-digit CC growth YoY. Growth was led by Retail & CPG (20.4% CC YoY), Manufacturing (18.3%), BFSI (17.9%), Technology & Services (17.7%) and Life Sciences & Healthcare (16.3%). All geographies, except for Asia Pacific and MEA, posted double-digit growth YoY.

*  A strong and sustained demand environment, broad-based growth, healthy deal intake (USD23.3bn in 9MFY22), and traction in cloud, IoT and Digital engineering give management confidence to sustain a robust revenue growth trajectory.

* We tweak our FY22/23/24 EPS estimates by -1.5%/0.5%/0.2% after factoring in the Q3 performance and buyback. We maintain Buy with a TP of Rs4,150 (Rs4,100 earlier) at 30x Dec'23E EPS, considering steady deal wins and consistent execution.

Skill-Lync Collaborates With Altair To Deliver New-Age Industry Relevant Courses For Engineers

* Skill-Lync & Altair Join Hands To Develop Courses, Provide Students Access To Altair Tools And Exposure To Industry Grade Projects

Delivering high-quality education to young engineers, Skill-Lync, an engineering Ed-tech start-up, announces its collaboration with Altair, a global technology company that provides software solutions in simulation, high-performance computing (HPC), and artificial intelligence (AI). With this collaboration, Skill-Lync will incorporate Altair tools and software in its curriculum to upskill aspiring engineers with the industry-sought demand of Altair tools and nurture them through specifically designed programs and projects, keeping them up to date with the industry software trends.

For Skill-Lync, this collaboration is a step forward toward an immersive learning experience for students and young engineers. Altair will offer academic licenses to all enrolled students of Skill Lync via Altair University for 12 months that can be used for academic / learning purposes, further giving students an edge.

Commenting on the collaboration, Sarangarajan V, Co-Founder of Skill-Lync, said “We are glad to work with Altair, enabling Skill-Lync students to leverage numerous tools from Altair such as HyperMesh, Inspire, AcuSolve and OptiStruct. Skill-Lync students will also be onboarded onto Altair’s Industry outreach portal to address the issue of talent mismatch in the industry. Skill-Lync and Altair are working closely to develop the course curriculum across various domains such as Concept Design, Fatigue Analysis & Manufacturing Simulation etc. We are confident that this initiative will help Skill-Lync in delivering industry-relevant courses to the students.”

Commenting on the collaboration, Vishwanath Rao, Managing Director of Altair India, said “Skill-Lync is bridging the gap between industry and academia and we are excited to be part of this journey. The technology sphere is rapidly evolving in traditional business like automotive and healthcare. Creating a talent pool to address the industry’s transforming demands is the need of the hour and together we will address this requirement in areas like generative design, AI, machine learning, digital twins, and more.”

Altair has been an industry leader in generative design for over two decades. It offers solutions that range from model-based systems design and early geometry ideation, to detailed multiphysics simulation and optimization. The software products represent a comprehensive, open-architecture solution for data analytics, simulation, and HPC.

Skill-Lync already has courses using Altair products such as HyperMesh for FEA plastic and sheet metal applications, crashworthiness analysis using HyperMesh and Radioss. With this collaboration, Skill Lync will expand its course library to include new age courses such as fatigue analysis, electric powertrain, and battery pack development.

Skill-Lync courses are designed to train students and equip them with the necessary skill sets to be industry ready. Skill-Lync envisions creating the engineer leaders of tomorrow and emphasizing project-based learning where students are trained in the various software packages and tools that are fundamental in the industry. Skill-Lync students will also be given the opportunity to access the Altair Industry Outreach portal which acts as the interface between the industry demand in connecting talent supply and demand.

Altair has been supporting various education initiatives under its Global Skill Development initiative to harness the technical education eco-system through its experience in the industrial products and services. These initiatives are intended to bridge the gap between industry requirements and technical education system by providing solutions which make technical institutes more aligned with industry needs and graduate student industry ready. 

Aditya Birla Fashion And Retail Collaborates With Germany’s GIZ To Boost Circular Economy In The Country

* The joint project will focus on material innovation, reduce inputs of harmful substances, increase textile-to-textile recycling, develop alternatives to plastic packaging, and foster traceability 

Aditya Birla Fashion and Retail Limited (ABFRL), one of India’s leading fashion companies, announced that it has collaborated with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH for implementing an India specific project to strengthen the textile and apparel industry for sustainable clothing. This unique initiative is part of the ‘develoPPP programme’ and is being implemented by ABFRL and GIZ on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).  

With this collaboration, ABFRL and GIZ aims to strengthen circular business practices for the Indian market. This will support the industry to match supply and demand which was witnessing pressure due to resource constraints.  

The joint project is designed to introduce material innovation, reduce inputs of harmful substances, increase textile-to-textile recycling, develop alternatives to plastic packaging, and foster traceability. The program will complement existing business practices such as downcycling, recycling, reusing and introducing new sustainable production processes. With the support of GIZ, ABFRL along with the Indian industry players will be able to leverage circular business practices and adopt complex processes that are technically superior and consumer friendly.  

Mr. Ashish Dikshit, Managing Director, ABFRL commented, “We are happy to partner with Germany’s GIZ to introduce globally benchmarked circular business practices in India. India’s textile and apparel industry is the 6th largest in the world and second largest employment sector. A large part of the textile waste generated is sent to the landfill and incinerated instead of being recycled or reprocessed. There is a need to ‘self-disrupt’ existing practices and transition to a more circular approach. Promoting a common understanding is therefore crucial from a sustainable development perspective for the entire textile sector in India. Along with GIZ, we aim to create awareness among key stakeholders to drive circular approaches, reduce waste, and create closed-loop systems.”  

Dr. Naresh Tyagi, Chief Sustainability Officer, ABFRL said “We look forward to collaborating with GIZ to transform the Indian Textile sector with new and robust sustainability initiatives. ABFRL is the co-chair of the Steering and Working Committee of the develoPPP project and will be responsible for setting the India agenda. It will implement select pilot projects together with global innovative solution providers.”   

Mr. Ashish Chaturvedi, Director Environment, Climate Change and Natural Resource Management GIZ India stated, “As a partner for international co-operation for sustainable development, we are committed to build a future worth living. The cooperation with ABFRL has great potential to help improving the sustainability of the Indian textile industry. In our opinion, combining the strength of  

both public and private partners is a win-win scenario, as it can create both developmental benefits for the local population and business benefits for the private companies.”  

Mr. Dieter Frick, Project Manager develoPPP, GIZ Germany said, “Solving global problems requires the commitment and cooperation of private sector, public sector and civil society partners worldwide. The BMZ's develoPPP programme is a practicable instrument to effectively achieve this. Based on common interests, ABFRL and GIZ have developed a concept and are going to pool their capacities for three years under this funding programme to find and implement circular business approaches to strengthen a sustainable Indian textile and apparel industry together with other partners in the sector.” 

With this project, ABFRL aims to build capacities in its own organization, its brands and among its suppliers, and to promote circular business practices in the Indian textile sector.  

About Aditya Birla Fashion and Retail Limited (ABFRL) 

ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. With revenue of Rs. 5,249 cr. spanning retail space of 8.4 million sq. ft. (as on March 31, 2021), it is India’s first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats. 

The Company has a network of 3,212 stores across approximately 31,000 multi-brand outlets with 6,800+ point of sales in department stores across India (as on 31st March 2021). 

It has a repertoire of leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England established for over 25 years. Pantaloons is one of India’s largest fast fashion store brand. 

The Company holds exclusive online and offline rights to the India network of California-based fast fashion brand Forever 21. The International Brands portfolio includes - The Collective, India's largest multi-brand retailer of international brands, Simon Carter and select mono-brands such as American Eagle, Ralph Lauren, Hackett London, Ted Baker and Fred Perry. 

Van Heusen Innerwear, Athleisure and Active wear is establishing itself as India's most innovative and fashionable brand. The Company’s foray into branded ethnic wear business includes Jaypore and strategic partnerships with Designers ‘Shantanu & Nikhil’, ‘Tarun Tahiliani’ and ‘Sabyasachi’. 

About GIZ  

The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH is a federal enterprise with worldwide operations. It supports the German Government in the field of international cooperation for sustainable development and international education. GIZ assists people and societies in shaping their own future and improving their living conditions. www.giz.de/en 

About develoPPP 

With develoPPP, the German Federal Ministry for Economic Cooperation and Development (BMZ) promotes private-sector activities where entrepreneurial opportunities and development policy potential meet. To be eligible for funding, companies must have a long-term business interest in the country and a sustainable developmental benefit for the local people. 

With develoPPP Classic, the programme offers customised funding opportunities for already established medium-sized and large enterprises. develoPPP is implemented by two experienced partners in German development cooperation: DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. 

Sterlite Power Wins “IDC Industry Innovation Award 2021” For ‘Innovation In Data Intelligence

Sterlite Power, a leading private sector power transmission infrastructure developer and solutions provider, has been recognized at the “eighth edition of the IDC Industry Innovation Awards (IDCIIA) 2021”in the “Innovation in Data Intelligence” category.   

Sterlite Power has a track record of executing complex projects successfully, with the use of technology and innovative solutions.  The company won this award for its in-house developed Geographic Information System (GIS) based Intelligent Route Mapping and Survey with TransAnalyst and CanvasR. This technology solution improves survey reliability, route generation accuracy and reduces the time for route generation. The technology solution enables data- based decisions thereby helping in reducing the overall timelines of project execution. 

IDC Industry Innovation Awards 2021 (IDCIIA 2021) is organised by International Data Corporation (IDC) and the program recognizes pioneers in the technology industry. The evaluation of nominations and selection of finalists was independently undertaken by a multidisciplinary team comprising of global IDC executive leadership, senior industry research leaders, and domain experts. 

About Sterlite Power:  

Sterlite Power is a leading power transmission infrastructure developer and solutions provider with projects covering approximately 13,700 circuit kms of transmission lines across India and Brazil. The Company has a portfolio of high-performance power conductors, EHV cables and OPGW. The company provides bespoke solutions for the upgrade, uprate and fiberzation of existing transmission infrastructure projects. It is the sponsor of IndiGrid, India’s first power sector Infrastructure Investment Trust (“InvIT”), listed on the BSE and NSE. The company was also recognised at The Economic Times Innovation Awards 2020 and is a recipient of awards from International Project Management Association (IPMA).  

78% Of Indians Feel That Insurance Is An Extremely Important Part Of Overall Financial Planning: SBI Life’s Financial Immunity Survey 2.0

After March 2020, 44% & 46% of the Indians have bought Life & Health insurance respectively for the first time

Key findings: 

* 80% of the Indians strongly feel prepared towards physical immunity out of which 74% have taken double dose of vaccination

* Top 3 worries of Indians

* 59% Rising medical/ treatment cost

* 59% Instability of jobs

* 58% Concerns around Health of self/family members

* 57% of the Indians feel ‘Financial Immunity’ is equal to ‘Being financially secure and stable’

* 3 out of 4 Indians have increased their saving/ investing since January 2021 & 50% of them plan to invest in savings/investments/insurance

* Indians remains underinsured as the life cover to personal annual income ratio is only 3.8 times, which is way below the recommended 10x to 25x of annual income

* 70% of the Indians strongly feel that life cover should keep on increasing when prominent life milestones are achieved  

SBI Life Insurance, one of the most trusted private life insurers in the country, unveiled yet another comprehensive consumer study, The Financial Immunity Survey 2.0, providing deep insights into consumer’s evolving behavior towards financial preparedness in the post covid world. SBI Life commissioned the survey with NielsenIQ (India), reaching out to 5,000 respondents across 28 key cities covering the length and breadth of India.

On the backdrop of the ongoing pandemic, a vast majority of Indians are confident that the country would tide over the situation or a possible 3rd wave. The confidence of being able to navigate through the situation is not surprising when 80% of the Indians strongly feel prepared towards physical immunity on account of taking either single or double dose of vaccination. But 38% of the Indians feel that the situation could worsen over the next three months and their top three worries attributed to (1) Rising medical/ treatment cost (2) Instability of Jobs (3) concerns around Health of family/self.

The survey findings further attempts to decode the behavior towards the top worries citied by consumers on the account of impact of income because of the pandemic where 79% of the Indians faced income reduction and 1/3rd are still facing reduced income. 64% of the Indians feel that their key life milestones like accumulating savings, leisure traveling, providing for child education were impacted.

With COVID-19 and uncertainty around, the importance of financial immunity has increased and 57% of the Indians relate it to being able to maintain ‘Financial Security and Stability of self/ family’.  78% of the Indians, feel that life insurance is extremely important in overall financial planning process. Realizing this importance of insurance, 46% purchased Health insurance and 44% purchased Life insurance for the first time during COVID-19. But although Indians feel insurance is important, they still seem to be under insured with as their insurance cover is ~3.8 times of their annual income which is not even close to recommended 10X or 25X of their annual income.

Consumers can self-assess their Financial Immunity Score by clicking on the below link:

https://www.sbilife.co.in/financialimmunity

Speaking on the survey launch, Mr. AVS Siva Rama Krishna, President, Zone II, SBI Life Insurance said, “The pandemic has impacted various aspects of our lives in multiple ways. Factors like changing risk perception and risk attitudes have led to formation of new habits amongst the consumers. Their increasing affinity towards financial planning is the result of these changing habits and behavior in the post pandemic world. SBI Life’s Financial Immunity Survey 2.0, attempts to gain a better understanding of the driving factors behind this shift and what has changed in terms of consumer behaviour towards both physical and financial immunity, especially in a post-covid world.”

He further added, “In the coming years, we are expecting to see consumers opting for insurance while doing their financial planning. It has also been observed that Indians are motivated now more than ever to build a robust financial immunity for themselves and their loved ones. This evolving consumer attitude towards financial products is a good sign and will ease the process of tackling any unprecedented situations in the future.”

Electro-Offensive And A Leader In Premium Segment: BMW Group Posts Strong Sales For 2021

* The BMW Group posted solid year-on-year sales growth of 8.4 percent last year, with a total of 2,521,525 BMW, MINI and Rolls-Royce vehicles delivered to customers worldwide.

* BMW sales reached a new all-time high of 2,213,795 units (+9.1%) last year, with the brand leading the global premium segment.

* BMW Group delivered 2,521,525 units (+8.4%)

* BMW brand reports all-time sales high, up +9.1% year?on?year; number one in global premium segment

* Sales of fully-electric vehicles more than doubled to 103,855 units

* MINI Electric* is MINI family’s highest-volume model

* One in four vehicles of the BMW Group sold in Germany is electrified

* Pieter Nota: “Want to continue profitable growth in 2022 and more than double sales of fully-electric vehicles again”

 The BMW Group posted solid year-on-year sales growth of 8.4 percent last year, with a total of 2,521,525 BMW, MINI and Rolls-Royce vehicles delivered to customers worldwide. BMW sales reached a new all-time high of 2,213,795 units (+9.1%) last year, with the brand leading the global premium segment. The company more than doubled its sales of fully-electric vehicles in 2021 to 103,855 units (+133.2%).

“Despite supply bottlenecks and the continuing coronavirus pandemic: We achieved a strong sales performance in 2021, thanks to a powerful operational performance and stellar product line-up. Our brands reported numerous all-time best sales results around the globe – spearheaded by the BMW brand, which is number one in the global premium segment,” said Pieter Nota, member of the Board of Management of BMW AG responsible for Customer, Brands, Sales. “With more than 100,000 fully-electric vehicles sold last year, ramping up electromobility was our clear focus,” Nota continued.

BMW Group well positioned to continue profitable growth in 2022

The company is optimistic about the current year. “In 2022 we want to continue our profitable growth and we will systematically expand our range of fully-electric vehicles. We have set ourselves particularly ambitious growth targets in this area and aim to more than double our sales of fully-electric vehicles from last year,” Nota added.

Systematic digitalisation of customer interface paves the way for sales success in the future

With the introduction of the BMW iX and BMW i4, the BMW Group has significantly expanded its digitalisation of the customer interface.

For instance, as well as offering intuitive configuration to simplify the purchasing process, pre-configured new vehicles and newer used cars across the entire model range can already be bought online in the BMW Group’s domestic market of Germany. By 2025, the company plans to sell around a quarter of its vehicles entirely online.

Data-based recognition of service requirements enables proactive customer care. This means the customer can be contacted directly and receive assistance remotely, wherever possible, or a visit to the workshop can be set up easily and efficiently, if needed.

The new My BMW/MINI app offers even more additional features, such as booking of digital services or broad access to charging options, and also provides a direct channel to customers.

BMW sales surpass all-time high of pre-crisis year 2019

The BMW brand ended 2021 with global sales up 9.1 percent (to 2,213,795 vehicles) on the previous year. Thanks to its young and attractive product line-up, BMW achieved its highest-ever sales figures.

2021 dominated by electromobility offensive

In 2021, 13 percent of BMW and MINI vehicles sold worldwide – a total of 328,316 units (+70.4 %) – were already electrified. In Europe it was already more than 23 percent (225,415 units).

With 37,939 BMW iX3* vehicles sold in 2021, about one in ten BMW X3 vehicles delivered to customers worldwide was fully electric. During this same period, one in three customers worldwide who bought a MINI 3 door model opted for the model’s fully-electric variant* (34,851 units). At the same time, the BMW i3, the world's only fully-electric premium vehicle in the compact segment, continued to grow in its ninth year: With 28,216 vehicles sold, 5.4 percent more BMW i3 vehicles were sold than in the previous year.

The BMW Group released two key innovation flagships, the BMW iX and the BMW i4, onto the market late last year. In 2022, the company will further expand its electric line-up with fully-electric versions of the BMW 7 Series and BMW X1 and, in 2023, the high-volume BMW 5 Series. These will be joined by other models, including the successor to the MINI Countryman and the all-electric Rolls-Royce Spectre.

By 2023, the company will have at least one fully-electric model on the roads in about 90 percent of its current market segments. Over the next ten years or so, the company plans to sell a total of about ten million fully-electric vehicles.

The Neue Klasse, which is uncompromisingly geared towards fully-electric drivetrains, will make a significant contribution to BMW Group sales volumes from the middle of the decade onwards.

The MINI brand’s product range will be exclusively all-electric by the early 2030s, while Rolls-Royce will also be an all-electric brand from 2030 onwards. All future new models from BMW Motorrad in the field of urban mobility will be fully electric.

Another milestone in the success story of BMW M GmbH

With a total of 163,542 M vehicles (+13.4%) delivered to customers, BMW M GmbH once again posted all-time record sales in both the high-performance and performance segments. The new BMW M3 and BMW M4 performed especially well. Sales of the BMW X5 M and BMW X6 M Sports Activity Vehicles also increased year-on-year. In the performance segment, growth came mainly from the new 4 Series derivatives – and the 4 Series Coupé, in particular. The X3 M40i* and X7 M50i* also enjoyed growing popularity. This year, the fully-electric BMW iX M60* and BMW i4 M50* models will further contribute to the future success of the brand.

One in ten MINI customers worldwide already drives fully electric

The MINI brand delivered 302,144 vehicles to customers last year – 3.3 percent more than in 2020. Around 17 percent of these vehicles had an electrified drive train. More than one in ten MINI customers opted for the fully-electric MINI: the MINI Cooper SE* (34,851 units). The MINI Electric is the MINI family’s highest-volume model and was a driving force for the brand in 2021, delivering growth of 98.2 percent worldwide. With a planned realignment of the model range, expansion of production capacity and development of new target groups and markets, the MINI strategy will remain focused on successful, profitable growth going forward.

Rolls-Royce Motor Cars posts highest sales in its history

Rolls-Royce Motor Cars reported the highest sales in the brand’s 117-year history, with 5,586 units sold worldwide (+48.7%). This overall figure includes all-time record sales in most regions, including Greater China, the Americas and Asia-Pacific, and in multiple countries across the world. The past year was characterised by high demand worldwide for all models, particularly Ghost and Cullinan and all Black Badge variants, with current orders extending well into the third quarter of 2022.  Bespoke commissions were at record levels and the company announced, alongside the launch of Boat Tail, that Rolls-Royce Coachbuild would become a permanent fixture in its future portfolio. The marque continues to evolve as a true luxury house and now prepares for the historic market introduction of its first all-electric motor car, Spectre, in the fourth quarter of 2023.

2021: Best year ever for BMW Motorrad

With 194,261 units (+14.8%) delivered to customers, 2021 was BMW Motorrad’s best year ever. As in previous years, sales growth was assured by the BMW 1250 GS, which once again made a vital contribution to the success of the brand in 2021, with around 60,000 units sold. The all-new BMW R 1250 RT got off to a good start in the marketplace, as did the large R 18 models, with four derivatives presented so far. The new S 1000 R was also very well received: Together with the first BMW M model for BMW Motorrad, it brought fresh energy to the four-cylinder scene and demonstrated BMW Motorrad’s technology leadership.

BMW & MINI sales in the regions/markets

In China, the BMW Group once again posted a new all-time sales high in 2021 and continues to lead the premium segment. A total of 846,237 BMW and MINI vehicles were delivered to customers in China (+8.9%). Sales of electrified vehicles in China continued to gain momentum with growth of 69.6 percent and more than 21,000 units of the BMW iX3. The company’s fifth-largest market, South Korea, also increased its sales by 11.0 percent in 2021, with 77,592 units sold.

In the US, BMW brand deliveries climbed 20.8 percent to 336,644 units and were therefore on a par with the pre-crisis year 2019. The MINI brand sold 29,930 vehicles in the US in 2021 – an increase of 6.4 percent compared to the previous year. The BMW X model range accounted for 60 percent of total US sales last year.

In Europe, total sales figures for BMW and MINI reached 948,087 units (+3.9%). Belgium marked a historic first for the company, as the BMW brand led a country’s total market in Europe for the first time. The Netherlands also posted an all-time high: The BMW iX3* was the best-selling electric model in the premium segment, with 2,733 new vehicle registrations.

The BMW Group continued to grow its segment share in its domestic market of Germany, with 267,917 units delivered (-6.8%) in 2021, and leads the premium segment, with a market share of over 35 percent. Sales of fully-electric vehicles more than doubled (27,248 new vehicle registrations). Including the 43,842 PHEVs that were sold, a quarter of all vehicles delivered in Germany were already electrified.   

Simple Energy Gears Up To Capture The EV Market, Delivery For The e-Scooter Simple One To Commence From June 2022

India’s leading electric vehicle (EV) and clean energy start-up, Simple Energy, announced the delivery of its flagship scooter, Simple One from June 2022. Making debut in the EV marketspace last year on country’s Independence Day, the awe-inspiring e-scooter, which is futuristic, stunning and strong built witnessed a record rush in pre-booking, with over 30,000 orders placed till date

Sharing further details Suhas Rajkumar, Founder and CEO, Simple Energy, said, “We understand electric mobility is the future, and two-wheelers are the vehicle of the masses. It is a part of our vision to revolutionise the electric two-wheeler segment and make premium electric mobility solutions affordable and accessible to people. We are elated with the market response that has been coming across our way on Simple One. The technology used for the Simple One will define and enable our future in this industry. We have some of India’s best minds conducting R&D, designing and engineering for our products, and we are confident that Simple One will supersede customer expectations.”

Being the fastest manufactured ‘Made in India’ e-scooter, Simple One offers the highest driving range of 203 km in Eco mode and a maximum range of 236km in IDC for a fully charged battery. The vehicle can sprint from 0-40 in just less than 2.95 seconds along with a speed of up to 105km/h making it the best in class in the product offering. It comes with the largest 30L boot space and features like intuitive smart dashboard, and much more to surprise the customers. The angular sharp design with winglets on the sides, proportioned and sleek body structure, sporty look, integrated turn indicators both on the front and rear side has been winning hearts since its debut. 

The Simple One will be produced at phase 1 of the manufacturing unit located at Hosur, Tamil Nadu, which will have an annual capacity of up to 1 mn units. The factory is currently getting ready for mass manufacturing, and will be operational in the coming weeks. The company has also commissioned a second plant in Dharmapuri, Tamil Nadu, which will be spread across 600 acres and have a capacity of 12.5 mn units annually — making it the largest two-wheeler producer in the world.

In line with building the best in-class electric scooter, Simple Energy has recently announced the completion of developing an advanced thermal management system with the Indian Institute of Technology-Indore (IIT Indore). This association was aimed at improving the safety, dependability, and lifespan of the battery modules in all its products.

The Simple One is priced at INR. 1, 09,999/- (Ex-showroom), and can be pre-booked at www.simpleenergy.in at INR. 1947 only.