Electric two- and three-wheeler manufacturer Zelio E-Mobility has reported audited financial results for FY2025-26, registering revenue of Rs 313.68 crore compared to Rs 172.19 crore in FY25, reflecting a year-on-year growth of 81.8%.
The company reported consolidated EBITDA of Rs 38.01 crore, with an EBITDA margin of 12.2%. Consolidated profit after tax (PAT) stood at Rs 28.39 crore during the financial year, compared to around Rs 16 crore reported in FY25.
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According to the company, revenue has grown from Rs 12.89 crore in its first year of operations to over Rs 313 crore in FY26, translating into a revenue CAGR of approximately 121% since inception.
Dealer Network Expands Across India
During FY26, Zelio expanded its sales and distribution network to more than 400 dealerships across over 25 states. The company said the network expansion was aimed at strengthening its presence in multiple regions of the country.
The company also announced new manufacturing facilities in Odisha and Tamil Nadu during the year. Following these additions, its annual production capacity is expected to reach 2,40,000 units.
IPO And BSE SME Listing Completed In FY26
A key development during the year was Zelio E-Mobility's public listing. The company was listed on the BSE SME platform in October 2025 following its initial public offering (IPO).
The IPO raised Rs 78.34 crore, including a fresh issue of Rs 58.84 crore and an offer for sale of 11.4 lakh shares valued at Rs 15.50 crore. The issue received an overall subscription of 1.5 times.
FY27 Focus On Manufacturing And Three-Wheeler Business
For FY27, Zelio plans to commission its manufacturing facility in Coimbatore, Tamil Nadu, which is expected to support operations in South India. The company also expects contributions from its Patan facility in Haryana, which is focused on electric three-wheelers.
Its Cuttack facility in Odisha is also expected to contribute through its first full year of operations. In addition, Zelio aims to increase its dealership network to more than 550 outlets by the end of FY27, with expansion planned in South India and the North-East region.
Kunal Arya, Managing Director, Zelio E-Mobility, said, “FY26 has been a transformational year for Zelio E-Mobility. Crossing the Rs 313 Crore revenue mark reflects not only the growing acceptance of electric mobility across Bharat but also validates our strategy of building affordable, dependable, and accessible EV solutions for everyday consumers. From expanding our manufacturing footprint and dealer network to successfully transitioning into a listed company, we have laid a strong foundation for long-term growth. As we move into FY27, our focus remains on scaling responsibly, deepening market penetration, and strengthening our position across both two-wheeler and three-wheeler EV segments.”
Elctrik Speaks
Zelio's FY26 results reflect the continued growth of electric mobility demand in the low-speed electric two-wheeler segment. The company's financial performance, dealer network expansion, manufacturing investments and entry into the public markets indicate its focus on scaling operations while expanding into new regions and vehicle segments, including electric three-wheelers.