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Earnings Call

Zelio E-Mobility Earnings Call: Key Takeaways

Zelio E-Mobility reported strong FY26 performance with ₹313cr revenue and ₹28.39cr PAT, transitioning from a private startup to a listed EV manufacturer.

Why this was an Alfa AlertManagement explicitly guides to >75-80% YoY revenue growth for the next single year (FY27), exceeding the 50% threshold.
Highlights
Revenue growth81.8% in FY26; 121% 4-year CAGR.
MarginsEBITDA margin 12.2%; PAT margin 9.1% and stable.
Demand visibilityStrong low-speed segment growth (20-25% industry rate).
Management confidenceHigh; emphasizing 100% profitability since inception.

Growth

FY26 revenue grew 81.8% YoY to ₹313cr; PAT compounded at 124% CAGR since FY23. Unit sales reached 70,000+.

Outlook

Guidance of 75-80% revenue growth for FY27; unit target >125,000. Expanding to 4 plants and 550+ dealers.

Risks

Low awareness of EV benefits; dependency on foreign technical components; competitive high-speed segment; monsoon impacts on rural income.

Last quarter's promises, checked

Delivered

  • Guided H1 FY26 Rev ₹134.78cr → delivered ₹134.78cr (= BEAT)
  • Guided H1 FY26 EBITDA ₹15.36cr → delivered ₹15.36cr (= BEAT)
  • Guided H1 FY26 PAT ₹11.8cr → delivered ₹11.8cr (= BEAT)

Partly delivered

  • Guided FY26 Revenue ₹260-280cr → delivered ₹313cr (= BEAT)
  • Guided 3-wheeler FY26 target 1,000 units → delivered 400 in H1 (= PARTIAL)
Source

Earnings Call filed with BSE, BSE: 544563. Summary written with AI assistance from the document.

Read the document ↗

Zelio E-Mobility Ltd: key numbers

Share price
₹1,022.40
Market cap
₹2,162 Cr
Revenue (annual)
₹310.7 Cr
Net profit (annual)
₹28.39 Cr
P/E (TTM)
76.2×Sector 32.5×
Promoter holding
72.77%
FII holding
0.01%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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Production Started

Zelio E-Mobility Production Started

Zelio E-Mobility began commercial production at its new Patan, Hisar plant on October 28, 2026. The plant adds 72,000 annual units of two- and three-wheeler capacity.

manufacturing capacity (two- and three-wheelers)
72000.0 units per annum