Jindal Worldwide 's electric vehicle subsidiary, Jindal Mobilitric Private Limited, announced on August 31, 2026, its plan to expand its retail network to approximately 100 showrooms across India by the end of FY28.

The expansion aims to strengthen last-mile customer experience and accelerate EV adoption nationwide. The phased rollout includes a target of around 40 showrooms by the end of FY27, with the remaining units to be commissioned progressively through FY28. This calibrated approach is designed to ensure consistent quality of customer experience, robust after-sales support, and disciplined capital allocation as the network scales.

Current operational status

Jindal Mobilitric has already commenced commercial operations, with its manufacturing facility in Ahmedabad fully operational. The company has opened its first two showrooms at Srinagar and Jaipur, marking the on-ground beginning of its pan-India retail expansion. Early customer footfalls and conversions at these locations have been reported as highly encouraging.

In parallel, the company has appointed 52 dealers across the country, building a distribution network intended to support the planned showroom expansion and ensure deeper market penetration across urban and semi-urban geographies.

Showroom expansion roadmap

The following table summarises the subsidiary's showroom targets and current status:

The expansion plan positions Jindal Mobilitric to significantly grow its physical retail footprint within a two-year window, moving from the FY27 target of ~40 showrooms to a total of ~100 by FY28.

Management commentary

Amit Agarwal, Director at Jindal Mobilitric, stated that the response to their products from customers has been fantastic, reaffirming their belief that the brand resonates with Indian riders. With production already rolled out and the first showrooms open, the company is focused on scaling its retail and dealer network at pace.

Agarwal described reaching 100 showrooms by FY28 as an ambitious goal but one they are fully committed to. He viewed the next two years as a defining growth phase for the company, expressing confidence in delivering strong, sustained results for shareholders while building one of India's most trusted electric mobility brands.

Jindal Worldwide has granted a corporate guarantee of ₹15.00 crore to JIO Credit Limited to support credit facilities availed by its subsidiary, Jindal Mobilitric Private Limited.

The Operational Committee approved the transaction in a meeting held on August 25, 2026. The company executed the guarantee document on August 29, 2026, at 6:32 pm.

Transaction Details

The guarantee is issued in favour of JIO Credit Limited ("JCL"), which is neither a related party nor part of the promoter group of Jindal Worldwide. The filing confirms that the transaction was conducted at arm's length.

Regulatory Disclosure

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also references SEBI Master Circular No HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

What the Numbers Show

The ₹15.00 crore guarantee will be recorded as a contingent liability in the books of accounts of Jindal Worldwide. This accounting treatment reflects the potential obligation without immediate impact on the balance sheet equity or profit and loss statement, pending any default by the subsidiary.