Electric vehicle maker Ampere Vehicles showed early signs of recovery in FY25 as revenue stabilised and losses narrowed sharply, following a steep decline in the previous fiscal.
Ampere’s operating revenue rose 8% year-on-year to ₹659 crore in FY25 from ₹612 crore in FY24, according to financial statements filed with the Registrar of Companies (RoC). Including other income of ₹16 crore, the company’s total income stood at ₹675 crore for the year, compared with ₹641 crore in FY24.
Ampere, a brand under Greaves Electric Mobility, derives its revenue entirely from the sale of electric scooters and three-wheeled vehicles.
On the cost side, material expenses remained the largest component, accounting for 64% of total expenditure. This cost increased 12% to ₹589 crore in FY25. Employee benefit expenses declined 22% to ₹79 crore, while advertising and promotional spends jumped 30% to ₹43 crore during the year.
Depreciation costs rose 41% to ₹45 crore, and other overheads including warranty claims, finance costs and miscellaneous expenses added ₹205 crore. Overall, total expenses increased 7% to ₹918 crore in FY25.
Despite modest revenue growth, Ampere significantly improved its bottom line. Losses narrowed by 65% to ₹240 crore in FY25 from ₹691.5 crore a year earlier. The company’s ROCE and EBITDA margin improved to -85.27% and -30.50%, respectively. On a unit basis, Ampere spent ₹1.39 to earn every rupee of operating revenue, marginally better than ₹1.40 in FY24.
As of March 2025, Ampere reported cash and bank balances of ₹25 crore and current assets of ₹263 crore. Greaves Electric Mobility, Ampere’s parent, has already received SEBI approval for its proposed ₹1,000 crore IPO.
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