EBCO is a British company distributing electric bikes designed for the rapidly expanding British e-bike market. The company has tie ups with most major dealers across the United Kingdom (UK). The turnover was Rs 7.07 crore with a loss after tax of Rs 15.15 crore in FY24.
TVS Motor (Singapore) views EBCO as a long-term partner in expanding its presence in the e-bike industry. The company plans to acquire the remaining stake in EBCO through its Singapore subsidiary, TVS Motor (Singapore).
As a result, EBCO has now become a wholly owned subsidiary of both TVS Motor Singapore and TVS Motor Company.
TVS Motor Company is a reputed two- and three-wheeler manufacturer globally. It has four manufacturing facilities in India and Indonesia. TVS Motor's group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Its subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement, have a leading position in the e-bike market in Switzerland.
The company’s standalone net profit rose 4.24% to Rs 618.48 crore on 10.33% increase in revenue from operations to Rs 9,097.05 crore in Q3 FY25 over Q3 FY24.
The scrip rose 0.34% to Rs 2,438.95 on the BSE.