The company also has plans to enter the EV market under its subsidiary Kinetic Watts & Volts.
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The company also has plans to enter the EV market under its subsidiary Kinetic Watts & Volts.
Kinetic Engineering Ltd. (KEL) announced that the company has received an investment of ₹177 crore by its promoters. Of the above amount, ₹55 crore will be invested by March, 2025. According to the company officials, the fresh investment will play a key role as it has set itself a revenue target of ₹1,000 crore by 2029, a significant jump compared to its current revenue of ₹150 crore. The promoters will also increase their stake in Kinetic Engineering and the plan is to hold 70% stake in the company by 2027.
Commenting on the development, Ajinkya Firodia, Vice Chairman, Kinetic Group, said: “Kinetic Engineering Limited has over 50 years of experience in manufacturing. It has successfully transformed into an auto components business and enjoys strong relationships with the world’s largest OEMs. Leveraging these long-standing partnerships, we expect to finalise significant business deals shortly. Additionally, we are heavily focused on the EV segment, with plans for our subsidiary, Kinetic Watts & Volts, nearing finalisation. These initiatives will drive an 8x to 10x revenue growth, and we are pleased to make this investment to meet the required capital expenditure, working capital, and growth initiatives. This infusion of capital from the promoters reinforces our growth blueprint, enabling us to take bold strides toward achieving our INR 1,000 crore revenue milestone.”
KEL also has plans to enter the EV space although the company hasn’t specified yet whether it will be the two-wheeler or the three-wheeler segment. Kinetic was among the biggest two-wheeler manufacturers in the country with the iconic Luna, the Kinetic-Honda DX scooter and later ventured into motorcycles too. The current business focuses on components and it supplies to many renowned OEMs in the country and also exports gears and other components. In its restructure plan, Kinetic Engineering has been successful in reducing losses, debt and the company is now profitable.
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