Zelio E-Mobility Reports Strong H1 FY26 Performance With Revenue Up 77% And Profit Rising 69%
Zelio E-Mobility Reports Strong H1 FY26 Performance With Revenue Up 77% And Profit Rising 69%
● Consolidated revenue reaches INR 134.78 crore with PAT at INR 11.87 crore
● Standalone revenue jumps 77% YoY to INR 133.3 crore; PAT climbs 69% YoY
Zelio E-Mobility, a rapidly expanding electric two and three wheeler manufacturer that has been doubling its growth year over year, has announced its H1 FY26 financial results, marking one of its strongest half-year performances to date. In its first reporting cycle following a successful SME IPO, the BSE-listed EV manufacturer reported consolidated revenue of INR 134.78 crore and net profit of INR 11.87 crore, reaffirming its position as one of India’s few consistently profitable EV players.
The consolidated results for H1 FY26 include contributions from its newly incorporated subsidiary, Zelio Auto Components, established in May 2025. The subsidiary marks a strategic shift toward deeper localisation, improved cost efficiencies and stronger margin control which will become increasingly important as the company scales production volumes. On a standalone basis, Zelio delivered robust performance with revenue rising 77 percent year on year to INR 133.3 crore and profit after tax increasing 69 percent year on year to INR 11.8 crore, compared to INR 7 crore in the same period last year. Sequential PAT rose 33 percent, highlighting operational improvements and consistent demand across the company’s dealer network.
Total standalone income reached INR 134.3 crore, which includes other income of INR 98 lakh. Expenses increased 78 percent year on year to INR 119.9 crore, driven by higher production, inventory expansion and network growth. Despite elevated costs, Zelio maintained solid margins which remains a rare achievement in India’s cost sensitive EV market. On a consolidated basis, total assets stood at INR 85.33 crore and net worth reached INR 38.55 crore, supported by a lean capital structure and disciplined financial management. Operating cash flow for the half year was INR 10.20 crore while capital expenditure of INR 5.23 crore was deployed toward tooling, machinery and upcoming manufacturing facilities.
This performance follows the company’s INR 78.34 crore SME IPO which closed with 1.5 times oversubscription. Zelio raised INR 62.83 crore through the fresh issue while promoters divested shares worth INR 15.50 crore through the OFS route. As of 14 November 2025, approximately INR 36 crore of unutilised IPO proceeds remain parked in fixed deposits with the Bank and are earmarked for capacity expansion and new facility development. A major priority has been strengthening its manufacturing backbone.. The Board has also approved leasing of new industrial premises in Odisha which will strengthen its access to eastern India’s fast growing EV market.
Zelio continues to scale its national distribution network. The company now operates through 337 plus dealerships across 20 plus states, with strong penetration in Tier 2 and Tier 3 markets where demand for affordable slow speed EVs is rising rapidly. Its mass market portfolio includes EEVA, Gracy, Legender, Mystery, XMen and the Tanga e Loader and is focused on customers who want simple, practical and cost efficient mobility. The recently launched Little Gracy, targeted at riders aged 10 to 18, has gained encouraging traction and reflects the growing opportunity in the non RTO EV segment.
Investor confidence remains high, with the company’s share price closing at INR 367.70, up 5% percent on the BSE today. Commenting on the results, Kunal Arya, Managing Director, Zelio E-Mobility, said, “Our H1 FY26 results demonstrate the strong fundamentals of our business and the trust that our customers and investors place in us. As we expand capacity, deepen localisation and strengthen our network, our focus remains on disciplined execution and delivering reliable and accessible electric mobility to customers across India.”
With strong half year financials, healthy liquidity, growing manufacturing capabilities and increasing localisation through Zelio Auto Components, the company is well positioned for an even stronger second half. Zelio enters FY26 to FY28 with accelerating momentum and continues to emerge as one of India’s fastest growing, most stable and operationally efficient mass market EV brands.
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