Remsons Industries Ltd

Remsons Industries has announced the acquisition of Astro Motors, three wheeler electric vehicle manufacturing company. Astro Motors is engaged in the business of developing and manufacturing of electric vehicles for cargo, loaders, passengers and micro mobility. Remsons Industries acquires 51.01% stake in Astro Motors for Rs. 14.22 crore, in a mix of Rs. 4.22 crore equity issued on preferential basis and Rs. 10 crore in cash. Astro Motors with a plant in Chakan (Pune) is one of the few electric three-wheelers with gear technology with one of the highest payload capacities of 747 kgs and 131 kms range. The Astro Navya, a Geared three wheeled EV made by Astro Motors, set the record for the highest motorable road in the world at Umling La Pass in Ladakh, at 19,024 feet. A 10.2 kWh battery powers the three-wheeled cargo vehicle, which has best in-class payload capacity, incline climb and battery range for all weather conditions. Astro Motors has appointed dealers and expanding its reach across India, is currently actively pursuing to launch passenger EV vehicles in approximately four to six months. With ever growing quick commerce and other E-Commerce business in India, the demand for last mile delivery commercials is very high and expanding year on year. Rahul Kejriwal, Executive Director, Remsons Industries shared his excitement about the acquisition, 'We are thrilled to bring Astro Motors into the Remsons family. This acquisition is an essential step in our journey to grow in a sustainable manner. As we continue to expand our portfolio, we see significant room for growth in this segment and to establish our presence in the rapidly growing electric three-wheeler segment while unlocking new business opportunities.' Powered by Capital Market - Live

Remsons Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 6 May 2025.Powered by Capital Market - Live

Remsons Industries has postponed the meeting of the Board of Directors which was scheduled to be held on 3 April 2025. The meeting will now be held on 9 April 2025.Powered by Capital Market - Live

Remsons Industries will hold a meeting of the Board of Directors of the Company on 3 April 2025.Powered by Capital Market - Live

Net profit of Remsons Industries rose 16.72% to Rs 3.98 crore in the quarter ended December 2024 as against Rs 3.41 crore during the previous quarter ended December 2023. Sales rose 24.76% to Rs 102.58 crore in the quarter ended December 2024 as against Rs 82.22 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales102.5882.22 25 OPM %12.0810.23 - PBDT10.897.79 40 PBT7.145.10 40 NP3.983.41 17 Powered by Capital Market - Live

Remsons Industries will hold a meeting of the Board of Directors of the Company on 7 February 2025.Powered by Capital Market - Live

Net profit of Remsons Industries rose 10.99% to Rs 3.13 crore in the quarter ended September 2024 as against Rs 2.82 crore during the previous quarter ended September 2023. Sales rose 19.63% to Rs 91.31 crore in the quarter ended September 2024 as against Rs 76.33 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales91.3176.33 20 OPM %8.2110.72 - PBDT7.436.49 14 PBT4.193.66 14 NP3.132.82 11 Powered by Capital Market - Live

Remsons Industries will hold a meeting of the Board of Directors of the Company on 12 November 2024Powered by Capital Market - Live

Remsons Industries announced that ICRA has revised the credit rating on the long term bank facilities of the company to ICRA BBB from ICRA BBB-. The Outlook on long term rating is Stable. Further, the short term rating has been revised to ICRA A3+ from ICRA A3. Powered by Capital Market - Live

Remsons Industries announced that the Annual General Meeting (AGM) of the company will be held on 20 September 2024.Powered by Capital Market - Live