/PRNewswire/ The "Extended Warranty Market by Distribution Channel, by Coverage Type, by Application, and by End User - Global Opportunity Analysis and.
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The company saw its expenses zoom to Rs 1,240 crore registering an increase of 306 per cent year-on-year (YoY). The company’s employee benefit expense amounted to Rs 282 crore in FY22 up from Rs 197 crore in FY21
Seven electric two-wheeler companies in India have collectively lost over Rs 9,000 crore ($1.2bn) in unpaid dues and market loss after their subsidies were stopped last year, according to the Society of Manufacturers of Electric Vehicles (SMEV). The Indian government has told the companies to refund the subsidies availed by them. The companies may have to absorb unpaid dues, interest, debt, loss of market share, reputational loss and the cost of capital along with potential recapitalisation.
Seven electric two-wheeler companies have suffered a cumulative loss of over Rs 9,000 crore on account of unpaid dues and loss of market after their subsidies were stopped last year, the Society of Manufacturers of Electric Vehicles (SMEV) said on Wednesday.
These companies have also been directed by the govt to refund the subsidies availed by them.
The audit by SMEV s chartered accountants indicates the total, cumulative damages to affected companies could account for over Rs 9,000 crore on a conservative basis, it noted.