Zelio e-Mobility has reported strong financial performance for FY 2025-26, reporting 81.8% year-on-year growth in revenue to ₹313.68 crore, the first time that the company has crossed the ₹300 crore milestone. The electric two-wheeler and three-wheeler maker had reported revenue of ₹172.19 crore in FY25.
The company also recorded a significant increase in profitability, with net profit rising 75.4% year-on-year to ₹28 crore, compared to around ₹16 crore in the previous financial year.
Zelio E-Mobility said the strong growth reflects its continued expansion in India’s fast-growing electric mobility market, supported by growing EV adoption and the company’s aggressive growth strategy in the electric two-wheeler and three-wheeler segments.
The company also recorded consolidated EBITDA of ₹38.01 crore with an EBITDA margin of 12.2%, while consolidated PAT for FY26 stood at ₹28.39 crore. Zelio has remained profitable since inception, a rare feat in India’s EV startup ecosystem. From ₹12.89 crore in the first year of operations to ₹313 crore in FY20, the company has achieved an impressive ~121% revenue CAGR in four years, reflecting continued business expansion, operational discipline and growing market acceptance across India.
Further strengthening its national footprint, Zelio e-Mobility expanded its dealership and distribution network to 400+ dealers across 25+ states, creating one of the largest slow-moving EV retail networks in the country. During the year, the company also announced two major manufacturing facilities in Odisha and Tamil Nadu, significantly strengthening its regional manufacturing and supply chain capabilities. With these additions, Zelio’s installed production capacity is set to reach 2,40,000 units annually, which will support the company’s aggressive growth plans in North, East and South India.
Commenting on the performance, Kunal Arya, Managing Director, Zelio e-Mobility said, “FY26 has been a transformational year for Zelio e-Mobility. Crossing the revenue mark of ₹313 crore not only reflects the growing acceptance of electric mobility across India, but also validates our strategy of creating affordable, reliable and accessible EV solutions for everyday consumers. From expanding our manufacturing footprint and dealer network to becoming a listed By successfully transitioning the company, we have laid a strong foundation for the long term. As we move into FY27, our focus remains on growing responsibly, increasing market penetration and strengthening our position in both the two-wheeler and three-wheeler EV segments.
Another major milestone during FY26 was the successful transition of Zelio e-Mobility into a publicly listed company following an IPO and BSE SME listing in October 2025. The company raised ₹78.34 crore through a public issue, which included a fresh issue of ₹58.84 crore and an offer for sale of 11.4 lakh shares worth ₹15.50 crore. The IPO was subscribed 1.5 times overall, with participation from both institutional and retail investors. Since its listing, the company has witnessed strong investor interest, with the stock hitting the upper circuit several times as investor confidence in the company’s profitable and fast-growing business model has strengthened.
Looking ahead, Zelio E-Mobility is focused on accelerating growth through strategic manufacturing expansion and deeper market penetration. The company is set to commission its Coimbatore manufacturing plant in July 2026, which will open up South India as a key growth corridor, while the Patan facility in Haryana will strengthen its electric three-wheeler business with meaningful revenue contribution for FY27. Zelio also plans to deepen its presence in Eastern India through its operational Cuttack plant, which will make its first full year contribution in FY27. Additionally, the company aims to expand its dealer network to 550+ dealerships by the end of FY 2027 with growth focused in South India and North-East region.