The corporate’s revenues elevated 78% from Rs 21,724 throughout FY19 to Rs 38,757 crore in FY20, in keeping with monetary knowledge accessed by enterprise intelligence platform Tofler.
The China-based model which holds quantity fifth rank in India’s smartphone market shipped 16.5 million models throughout calendar yr 2020 and captured 11% of the general market, however on-year development remained flat, in keeping with analysis agency IDC India.
As per the Oppo’s monetary report launched on Wednesday, the corporate has secured $400 million (near Rs 3,280.5 crore) by way of exterior industrial borrowing (ECB) over the last fiscal.
“Through the interval underneath overview, the Firm had obtained ECB of USD 250 Million and ECB of USD 200 Million vide ECB Settlement dated tenth September 2019 and twenty fourth March 2020 for the Basic Company Functions/Working Capital/Import of Capital Items/Modernisation or Enlargement of Current Unit/Native Sourcing of Capital Items,” Oppo stated in its report.
Oppo had introduced an funding of Rs 2,200 crore in January 2020 for manufacturing enlargement of its Better Noida facility which assembles telephones for Oppo and sister manufacturers Realme and OnePlus. The plant presently churns out near 50 million smartphones per yr.
It has additionally invested Rs 2 crore in its monetary providers entity known as M-Kash integrated in July 2019 for extending fast loans, insurance coverage and mutual fund investments. The corporate powers fintech companies of each Realme and Oppo manufacturers in India.
“The Firm has granted a mortgage of Rupees 20,000,000 for Basic Company Functions of M-KASH, as M-KASH being a startup Firm, due to this fact the Firm has invested in the identical,” it stated.