Company Structure and Operations - SVH's significant subsidiary, SRIVARU MOTORS PRIVATE LIMITED, holds a 94% ownership stake and operates in the transportation sector in India[291]. - SVH's organizational structure includes MOBV as a wholly owned subsidiary, enhancing its operational capabilities[290]. Financial Performance and Compensation - The CEO, Mohanraj Ramasamy, has an annual base salary of $271,000 and a target bonus of 25% of his salary, amounting to $67,750[302]. - The CFO, Mr. Leow, has an annual base salary of $216,000, a signing bonus of $24,000, and a target bonus of 25% of his salary, totaling $54,000[303]. Supply Chain and Cost Management - The company has experienced cost increases in logistics, raw materials, and manufacturing, but lower input prices in India have mitigated some of these costs[294]. - Supply chain challenges and higher costs are expected to persist into 2025, with stabilization anticipated in 2026 for certain components[294]. - The company is exposed to potential disruptions in supply for lithium-ion battery cells and semiconductor chips, which are critical for electric vehicle production[597]. Strategic Plans - SVH plans to expand its electric motorcycle sales initially in India, with future international expansion expected to increase currency rate risk exposure[295]. Compliance and Reporting - The company has not reported any significant new accounting pronouncements during the period ended March 31, 2024[293]. - The audit committee consists of independent members, ensuring compliance with Nasdaq listing standards and SEC rules[309].
SRIVARU(SVMH) - 2024 Q4 - Annual Report