ELPIS

The Company has ventured into the after-market business as part of its growth and de-risking strategy. The Company through its wholly owned subsidiary company, namely, Elpis Automotives Private Limited (Formerly Elpis Components Distributors Private Limited) is engaged in this business. Elpis started this business with a warehouse in Okhla, New Delhi. Due to good demand from customers, Elpis has established a new warehouse in Gurugram, Haryana to cater to the distribution requirements.

The focus of Elpis is to promote spare parts as well as premium car accessories to the customer. Elpis is establishing a distribution network and foraying into e-commerce by promoting the products on e-commerce websites (Amazon) as well as its own online shopping portal (shopelpis.com).

The Company has restructured and consolidated its spare parts business in its facility located at Surajpur Industrial Area, Uttar Pradesh. This facility focus on supply of parts to its OEM customers as well as develop and supply parts for the Company’s aftermarket initiatives.