Capital Market Last Updated at February 17, 2022 15:04 IST
Kabra Extrusiontechnik advanced 3.56% to Rs 475 after the company's announced Battrixx will be supplying the advanced range of lithium-ion battery packs with smart batteries designed by BGauss for its range of high-speed e-two-wheelers.
Battrixx is the battery division of Kabra Extrusiontechnik (KET), which is part of the Kolsite Group. It provides a wide range of advanced lithium-ion battery packs with smart battery management system (BMS).
BGAUSS is a dynamic, stylish, premium-yet-affordable automobile brand and is part of RR Global, a prominent conglomerate in the electrical industry.
With this deal, Battrixx will be equipping 50,000 BGauss e-two-wheelers with its cutting-edge battery packs, thereby strengthening the company's resolve to power the growth of India's transition to green energy storage and electric transportation.
Anand Kabra, vice chairman & managing director, Kabra Extrusiontechnik, said: Electric mobility in India continues to gain momentum with the EV two-wheeler industry seeing a 132% growth in sales last year. We are onboarding new customers each month and we are glad to associate with BGauss to power their high-speed e-two-wheelers which will enable a revolution in the high-speed two-wheeler space.
Kabra Extrusiontechnik is India's largest manufacturer of plastic extrusion machinery for last more than 4 decades and recently ventured into manufacturing of lithium-ion battery packs.
The company's consolidated net profit rose 50.77% to Rs 8.76 crore on a 69.94% increase in sales to Rs 105.36 crore in Q3 FY22 over Q3 FY21.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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