Komaki registers over 100% revenue growth during FY 2022-23; 1200% since inception
image.gifWith a sharp jump from INR 147.02 Cr of annual revenue in 2021 to INR 298 Cr in 2022, Komaki Group, one of the fastest evolving brands in the electric vehicle landscape of India, achieved more than 100 percent revenue growth this calendar year. The leadership team of Komaki Group attributes the company’s phenomenal performance to investment in R&D, especially in the battery division. As per their claim, the sale of Komaki’s EV bikes and scooters witnessed a massive uptick after the launch of the LiFePO4 battery, now embedded in most of Komaki’s high-speed two-wheelers.
During the same period, Komaki Group’s profit also doubled from INR 1.51 Cr to INR 3.25 Cr. Now, to create a robust EV charging infrastructure in the country, Komaki has set a target to invest Rs 75 Cr in installing 45,000 charging points across pan-India by December 2023. This will go a long way in contributing towards India meeting its ambitious non-fossil fuels target by 2030.
During Financial Year 2021-22, Komaki registered a staggering growth rate of 560 percent, with annual revenue of Rs 22.92 crore in 2021 to Rs 147.02 in 2022. Now, with another sharp rise in the annual revenue, the company has registered an overall growth rate of 1200 percent within 20 months of its inception. Notably, the exemplary growth of Komaki is completely organic, without any dependency on government subsidy and without any bank loans or funding from any financial institutions. This has also placed Komaki among one of the few startups in the clean energy sector which is running into profit consistently.
On the company’s staggering growth and future plans, Gunjan Malhotra, Director of Komaki Electric Vehicle Division, said, “Komaki, in just four years of existence, has earned a great reputation in the market and financially too the company is experiencing rapid top-line as well as bottom-line growth without any external funding. The brand has established a strong network of 380+ dealership stores all over the country. We offer the widest range of electric 2-wheelers, with 10 CMVR-exempt models and 8 high-speed registration models. Besides, we are working on the application of advanced technologies to manufacture the best-in-the-market batteries for our EVs. Our fireproof LIPO4 batteries are ensuring extra safety to our EVs and getting an overwhelming market response.”
Komaki has a state-of-the-art manufacturing plant spanning over two acres with offices and warehouses in Delhi / NCR.“Komaki is leveraging the best of the technologies available in the market to manufacture advanced electric vehicles and bolsters its market presence. We are constantly focused on revamping our batteries to make our vehicles safer. Further, soon Komaki will be making all its EV models registered high-speed vehicles. With the application of technologies, we are also installing TFT displays in our vehicles, and many exciting new features are in line to be launched,” added Malhotra.