Nagesh Basavanhalli, Group CEO & Managing Director of Greaves Cotton, said that they are seeing a lot of traction in the personal mobility segment. He also said that the traction from two and three wheelers is improving.

“In the recently concluded analyst call, we said on a monthly run rate we are running at about roughly Rs 20 crore per month run rate. We have exceeded last year’s numbers in terms of revenue. So, the traction on a monthly run rate both from two wheelers and three wheelers is improving. Quarter-on-quarter (QoQ) for example we saw 100% plus sales.”

“On the bottomline, we demonstrated that this business potentially can break even. But we are also in an investment phase and our market share capture phase. So, this is the fine line while we are obviously very conscious of profitable growth."

"We are also in a stage right now where we are investing in talent, we are adding capacity, we are adding dealers, and we are working on technology. So, we believe that the industry is at a critical juncture,” he said in an interview to CNBC-TV18.

He also said that commodity prices and supply chain challenges persist.

“Commodity prices and the supply chain challenges continue. I think the entire industry is going through that. We are also in the transition in terms of localization and increasing our localization. So, commodity prices, all of us are impacted,” he said.

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(Edited by : Bivekananda Biswas)