Eastman Auto & Power plans to achieve turnover of Rs 10,000 cr by FY26 – EQ
In Short : Eastman Auto & Power Ltd. is aiming for a significant growth milestone, targeting a turnover of Rs 10,000 crore by FY26. The company, which posted a turnover of approximately Rs 3,600 crore in FY24, plans to achieve this growth through investments in solar rooftop solutions and its core business in Last Mile E-Mobility Solutions. Strategic initiatives include expanding power electronics manufacturing, forming technology partnerships, and exploring advanced energy storage chemistries.
In Detail : Solar rooftop solutions provider Eastman Auto & Power Ltd on Thursday said it plans to achieve a turnover of Rs 10,000 crore by 2025-26 aided by capacity expansion on renewal energy side.
The company had posted a turnover of about Rs 3,600 crore in 2023-24, according to a statement.
Committed to sustainable and profitable growth, the company plans to achieve Rs 10,000 crore turnover by 2025-26 by investment in building the solar rooftop solutions business alongside mainstay Last Mile E-Mobility Solutions business, Eastman Auto & Power MD Shekhar Singal said in the statement.
This goal shall be driven by strategic investments in new power electronics manufacturing facilities for solar inverters (for grid-connected and off-grid solutions), technology partnerships and participation in multiple advanced chemistries for energy storage, he said.
To achieve this objective, the company has made some top level changes.
The company has appointed Ashok Jain as Chief Finance Officer (CFO) and Mantosh Kumar as vice president (finance), Ritesh Srivastava vice president (Supply Chain Management), Bhupinder Singh as VP (Exports) and Sudham Ravinutala as chief marketing officer.
