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Jayant Mundhra
•
Dexter Capital Advisors • 1y
Attrition at Ola Electric is 2.5x of Ather, 5x of TVS and 12x of Hero 📛📛 The employee attrition woes at Bhavish’s company are simply too big to ignore, now that it is a public company. .. At 47.48%, for those who may not get it, this implies that half its employees leave the company every year. The closest to it is Ather at 18-20% attrition, which itself is double the worst among other major players! For TVS, it’s 10%. For Hero, it’s a measly 4%. .. Why am I sharing these data points about Ather, TVS & Hero etc? Because, 47.48% attrition is just a number which may fail to help one visualise the gravity of the problem. But, once you realise that the attrition at Ola Electric is 2.5x of Ather, 5x of TVS and 12x of Hero, it helps one see the company’s state of affairs versus the industry and its competitors. And at least to me, it comes out as a very ugly picture. .. And today, that ugly picture got further marred. The company’s Head of Sales (Mahesh Alanthat) has also left Ola Electric. This is all too bad. And now that the company has tens of lakhs of investors (either directly or via mutual funds) 📛📛 To the naive me - This situation is pretty scary and worrisome. .. This news about another senior exit would have probably gone unnoticed. After all, there is so much noise about the founder (Bhavish), his ballistic business with the controversial comedian Kunal Kamra, and over 15% of the company’s all-time sold scooters being stranded at its service centres. Thus, I found it to be something worth being raised. Something that investors should know. What do you think? .. To those special set of people who would write in the comments below that I’ve been paid by Ather to write this: Do consider how I'm also highlighting Ather’s attrition rate being double of TVS and 5x of Hero’s. That’s super bad too 📛📛
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