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.