Zelio E-Mobility Limited reported an 81.8% year-on-year increase in consolidated revenue to INR313 crores for the financial year ended March 31, 2026. Profit after tax for the period stood at INR28.39 crores, representing a net margin of 9.1%. The company has maintained profitability in every financial year since inception, recording zero audit qualifications for four consecutive years.

On a consolidated basis, revenue from operations reached INR310.71 crores, while total revenue was INR313.68 crores. EBITDA for the year was INR38.01 crores at a margin of 12.2%. The company’s net worth stood at INR111.53 crores, supported by a debt-to-equity ratio of 0.18x and a current ratio of 3.4x.

Operational Expansion and Capacity

The company significantly expanded its manufacturing footprint during the year, increasing annual production capacity from 72,000 units to 240,000 units. This includes a flagship plant in Ladwa, Haryana, with a capacity of 120,000 units, and a facility in Cuttack, Odisha, with 60,000 units. Additionally, two new plants were commissioned in July 2026: Patan, Haryana for electric three-wheelers, and Coimbatore, Tamil Nadu for South India operations.

Financial Performance

Strategic Outlook

For the financial year 2027, Zelio E-Mobility targets sales of more than 125,000 units, supported by a planned expansion of its dealer network to over 550 outlets across 25+ states. The management projects sustained year-on-year revenue growth of 75% to 80%. The company also announced plans to launch two high-speed EV models and increase localization, aiming for 70% to 80% indigenous content in new vehicles by 2027.

Zelio E-Mobility reported a 75.4% rise in net profit to ₹280.27 crore for the financial year ended March 31, 2026, driven by strong operational performance. Revenue from operations increased 76.3% to ₹3,035.42 crore from ₹1,721.89 crore in the previous year. Total revenue for the period stood at ₹3,066.01 crore. On a quarterly basis, the company's standalone net profit for Q4 came in at 162M rupees, compared to 90M rupees in the same period of the previous year, reflecting continued momentum in business growth.

Q4 Standalone Financial Highlights

Zelio E-Mobility's Q4 standalone performance showed strong year-on-year growth across key metrics. Revenue for the quarter stood at 1.7B rupees, up from 969M rupees in the corresponding quarter of the prior year. EBITDA for the quarter rose to 191M rupees from 118M rupees year-on-year, though the EBITDA margin contracted to 11.21% from 12.15% in the same period last year.

Full-Year Financial Performance (Standalone)

For the full year ended March 31, 2026, the company reported a profit before tax of ₹339.20 crore, compared to ₹193.55 crore in the prior year. Total expenses for the year were ₹2,726.80 crore, up from ₹1,544.41 crore in the previous year. Earnings per share (EPS) for the year increased to ₹14.95 from ₹9.67 in the previous year. The company's consolidated net profit for the year was ₹283.87 crore.

Board Approvals and Audit

The board of directors, in a meeting held on May 28, 2026, approved the audited standalone and consolidated financial results for the half year and year ended March 31, 2026. The statutory auditors, Murari Garg & Co., issued an unmodified opinion on the financial results. The company also appointed M/s T S A & Co., Chartered Accountants, as the internal auditor for the financial year 2026-27.

Balance Sheet and IPO Proceeds

The company's cash and bank balances as of March 31, 2026, stood at ₹2,600.19 crore, a significant increase from ₹31.65 crore in the previous year. This rise was primarily due to the proceeds from the initial public offer (IPO) completed in October 2025, which aggregated ₹628.32 crore. The unutilised IPO proceeds of ₹250.53 crore have been temporarily deployed in fixed deposits with HDFC Bank. Total equity increased to ₹1,111.69 crore as of March 31, 2026, from ₹266.74 crore in the previous year, while share capital rose to ₹211.50 crore from ₹165.30 crore.