Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Sreemant Dudhoria is a CFA Charterholder with 17 years of experience in equity research and information technology. He is also a SEBI-registered Research Analyst (Registration Number: INH000016861). His focus is on analyzing companies with bottom-up, company-specific triggers. Previously, he worked with Unifi Capital, where he co-managed assets of about USD 800 million along with the CIO, and prior to that at Infosys Technologies.

Equity Analyst - Fundamental & Thematic

India Two-Wheeler OEMs – April EV Sales Dip Post-Policy Shift; Near-Term Trends Under Watch

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Thematic (Sector/Industry)

India Automobiles and components / Thematic (Sector/Industry)

<ul>
<li>EV sales rose 9% MoM in May, showing early signs of recovery post-April dip; YoY growth strong at 29%.</li>
<li>
<a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric (OLAELEC IN)</a> ’s market share slipped to 19%, while <a href="https://www.smartkarma.com/entities/tvs-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:16123:1" rel="noopener">TVS Motor (TVSL IN)</a> and <a href="https://www.smartkarma.com/entities/bajaj-auto-ltd" target="_blank" data-smartkarma-citation="entities:3613:1" rel="noopener">Bajaj Auto Ltd (BJAUT IN)</a> remained steady; market concentration continues.</li>
<li>Affordability challenges remain, as lower subsidies pressure entry-level demand; OEM pricing and rollout strategies in focus.</li>
</ul>


EV sales rose 9% MoM in May, showing early signs of recovery post-April dip; YoY growth strong at 29%.

Ola Electric (OLAELEC IN) ’s market share slipped to 19%, while TVS Motor (TVSL IN) and Bajaj Auto Ltd (BJAUT IN) remained steady; market concentration continues.
Affordability challenges remain, as lower subsidies pressure entry-level demand; OEM pricing and rollout strategies in focus.


Greaves Electric Mobility Ltd (GEML) (1295040D IN)

Bajaj, TVS Overtake Ola as EV 2W Market Consolidates