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20-F: FY2024 Annual Report

20-F: FY2024 Annual Report

20-F：2024财年年报
美股SEC公告 ·  2024/07/19 06:07

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SRIVARU Holding Limited reported fiscal year 2024 revenue of $42,538, down 62.27% from $112,409 in FY2023, primarily due to raw material shipment delays. Net loss widened significantly to $11.48 million from $674,948 in the prior year. The company recorded a $263,000 inventory write-down due to compliance with revised EV battery regulations and Prana 1.0 license expiration.General and administrative expenses surged to $10.92 million from $405,078, driven by increased headcount, professional services, and technology costs. The company maintained a cash position of $175,041 as of March 31, 2024. Management secured a $25 million equity financing facility in July 2024 to support operations and received an initial $1 million disbursement.Looking ahead, SRIVARU is focused on obtaining the Prana 2.0 license and expanding its manufacturing facility in India. The company expects current cash reserves combined with the new equity facility will support operations beyond the next twelve months. Management plans to raise additional funds through private placement subject to market conditions.
SRIVARU Holding Limited reported fiscal year 2024 revenue of $42,538, down 62.27% from $112,409 in FY2023, primarily due to raw material shipment delays. Net loss widened significantly to $11.48 million from $674,948 in the prior year. The company recorded a $263,000 inventory write-down due to compliance with revised EV battery regulations and Prana 1.0 license expiration.General and administrative expenses surged to $10.92 million from $405,078, driven by increased headcount, professional services, and technology costs. The company maintained a cash position of $175,041 as of March 31, 2024. Management secured a $25 million equity financing facility in July 2024 to support operations and received an initial $1 million disbursement.Looking ahead, SRIVARU is focused on obtaining the Prana 2.0 license and expanding its manufacturing facility in India. The company expects current cash reserves combined with the new equity facility will support operations beyond the next twelve months. Management plans to raise additional funds through private placement subject to market conditions.
SRIVARU Holding Limited报告2024财年的营业收入为42538美元，比2023财年的112409美元下降了62.27%，主要由于原材料发货延迟。净亏损大幅扩大至1148万，从去年同期的674948美元上升。由于符合修订后的电动汽车电池法规和Prana 1.0许可证到期，公司记录了263000美元的库存减值。一般和行政支出激增至1092万，从405078美元上升，这主要是由于员工人数增加、专业服务和科技成本上升。截止到2024年3月31日，公司保持现金状况为175041美元。管理层于2024年7月获得了2500万美元的股权融资便利以支持运营，并获得了首次100万美元的支付。展望未来，SRIVARU专注于获取Prana 2.0许可证并扩大其在印度的制造设施。公司预计目前的现金储备结合新的股权融资便利将支持未来超过十二个月的运营。管理层计划通过定向增发筹集额外的资金，具体取决于市场状况。
SRIVARU Holding Limited报告2024财年的营业收入为42538美元，比2023财年的112409美元下降了62.27%，主要由于原材料发货延迟。净亏损大幅扩大至1148万，从去年同期的674948美元上升。由于符合修订后的电动汽车电池法规和Prana 1.0许可证到期，公司记录了263000美元的库存减值。一般和行政支出激增至1092万，从405078美元上升，这主要是由于员工人数增加、专业服务和科技成本上升。截止到2024年3月31日，公司保持现金状况为175041美元。管理层于2024年7月获得了2500万美元的股权融资便利以支持运营，并获得了首次100万美元的支付。展望未来，SRIVARU专注于获取Prana 2.0许可证并扩大其在印度的制造设施。公司预计目前的现金储备结合新的股权融资便利将支持未来超过十二个月的运营。管理层计划通过定向增发筹集额外的资金，具体取决于市场状况。
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