EV 2-W Registrations Surge 58% to 1.64 Lakh in May 2026 as TVS Holds No. 1 Spot, Bajaj Gains, Ather Nearly Doubles, and Ola Slips

 EV 2-W market showed strong momentum in may`26 with total registration rising to 164k up 58% YoY from 104k ( may`25) & up 18% MoM from 139k ( april`26)  driven by better charging, more models, rising adoption, and fuel-supply concerns.

Company Wise Performance 

TVS Motor retained the top spot with 41k registrations up 61% YoY from 25k units and a 25% market share.

Bajaj Auto held second spot with 38k registrations up 68% YoY from 23k units and a 23% market share ,up ^ 1% compared to may 25~ 22% .

Ather Energy posted the sharpest growth among major players with 27k registrations up 96% YoY from 14k units and a 17% market share ,up 4% ^ compared to may 25~ 13% .

Hero Moto reported strong performance with 18k registrations up 147% YoY from 7k units and a 11% market share ,up ^ 4% compared to may 25~ 7%.

Ola Electric saw pressure from competition and execution issues with 15k registrations down 22% YoY from 19k units and a 9% market share ,down ^ 9 %  compared to may 25~ 18% .

Beyond the Numbers: How IND AS 115 Brought Transparency to Revenue Recognition – A Cross-Industry Roadmap for Businesses & Investors

 

IND AS 115 in Action: 5 Industry Examples That Show How Revenue Recognition Changed Forever

If you've been following our series on India's accounting revolution, you already know that IND AS 115 fundamentally reshaped how companies recognize revenue. But theory only goes so far – let's see how this plays out in the real world across five major industries.

Example 1: Construction Contracts – Building Bridges, One Performance Obligation at a Time

The Old Way (IND AS 18):

A construction company would recognize revenue progressively as work was completed – simple percentage-of-completion method.

The New Way (IND AS 115):

Revenue is now recognized based on transfer of control, not just progress.

Real-World Scenario:
Imagine a company building a bridge for a government client. Under IND AS 115, they must first identify distinct performance obligations within that single contract:

Performance Obligation	When Control Transfers	Revenue Recognized
Design completion	When designs approved & handed over	✅ At design sign-off
Construction phases	As each section is completed & accepted	✅ Milestone-based
Testing & handover

Where to extract data for further analysis of the companies?

1.  Annual Reports
   

How to Annual Report - Which Sections to cover?

 

Ever wondered how successful investors make informed decisions about which companies to invest in? The answer often lies in a document that many people overlook: the annual report. This comprehensive guide will transform you from someone who skips these documents to someone who uses them as a powerful investment tool.

Accounting Gimmicks & Spotting Red flags

 Below are several accounting gimmicks and red-flag signals that a diligent investor can spot by examining a company’s last three years of financial statements and carefully reading the notes to accounts -

Michael Mauboussin on Amazon: Lessons in Expanding the Total Addressable Market

 

Mauboussin, known for his influential research on corporate value creation, uses Amazon as a key example of a company that continually redefines its TAM—not just by launching new products or services, but also by creating and seizing "option value," or new business opportunities that weren't originally part of its core model. GPU Server production: Nvidia AMD LLMs: Google Meta OpenAI

Unlocking India’s Water and Waste Infrastructure: Gaps, Data, and Opportunity

India currently has approximately 1,300 operational sewage treatment plants, while China boasts 

between 20,000 and 30,000 such facilities—a disparity that highlights India’s significant infrastructural gap in wastewater management. This difference is particularly stark considering that India’s urban population is well over 480 million, producing an estimated 72,368 million liters per day (MLD) of sewage, yet only about 37% is actually treated before being released into the environment. By contrast, China’s robust infrastructure allows it to treat nearly 90% of urban sewage, significantly reducing environmental and public health risks.

This infrastructural deficit in India presents three major investment and development opportunities:

1. Sewage Treatment Plants: Expanding the number and capacity of sewage treatment facilities is critical. The Central Pollution Control Board (CPCB) reports that over 60% of sewage generated in India goes untreated, polluting rivers and harming ecosystems. The sector is poised for high growth as governmental schemes like Namami Gange and AMRUT focus on wastewater management. Estimates suggest India needs at least 10,000 more plants to meet current demand and comply with global norms.
2. Water Desalination Plants: With over 18% of the world’s population but just 4% of its freshwater resources, India faces acute water scarcity in many regions. Desalination offers a promising solution, especially for coastal cities like Chennai and Mumbai. While India currently has around 20 large desalination plants, China has over 1,000 operational plants with a combined capacity of over 1.5 million cubic meters per day. The potential for expansion is substantial, particularly as water stress worsens due to climate change and population growth.
3. Waste Recycling Plants: India generates over 62 million tonnes of solid waste annually, yet less than 30% is scientifically processed or recycled. In comparison, advanced economies like China and the European Union recycle or treat up to 80% of their waste. There is enormous scope for increasing the number of waste recycling plants—especially for plastic, e-waste, and organic waste—as new government rules and incentives encourage private participation and innovation.

Signs of Excessiveness and Extremism

Top Signs	Bottom Signs
1. Large no. of IPOs	1. No Mergers and Acquisitions
2. Rapidly Rising Prices	2. No IPOs
3. Excess Leverage	3. No new money for Venture Capital
4. Availability of Credit	4. Low Price/Sales and EV/EBITDA Multiples
5. Over-optimistic Front Covers of Newspapers and Magazines	5. Many Companies Trading below Book Value
6. Very High Trading Volumes	6. Very Low P/E Multiple
7. Historically HighP/E and EV/EBITDA Multiples	7. Central Banks eased for 6 to 12 Months
8. Art and Luxury Markets Booming	8. Recession Declared Officially, News is Stale
9. Financial Press and Financial TV become Favourites	9. Previously Favourite Sectors are Hated
10. This Time is Different" Declared	10. Credit only available to High Quality Borrowers
11. Amateur Investors moveto Equity Asset Class	11. Investors are Cautious and Out of the Markel
12. Innovation Leads to Euphoria	12. Negative Front Covers of Newspapers and Magazines
13. Social Proof Leads to Herding	13. Negative and Depressed Consumer Sentiment

The Role of ROIC - 2/n

 

Good quality business are those kinds of business that can generate higher return on the capital that is being reinvested but outstanding business are those businesses that can keep compounding the profit at higher return.

Financial Analysis - A fairytale lore towards analysing different aspects of numbers of the company - Revenue - Part 2/n

It is possible that the method of calculation of revenue could have changed over the years so it is important for us to make sure that the number that has been taken over the years are comparable in nature, some of the following transitions includes: