Zelio E-Mobility

Zelio E-Mobility Ltd. is an Indian manufacturer of electric two‑wheelers (and in some cases three‑wheelers), producing under the brand “Zelio” (for scooters) and “Tanga” (for 3‑wheelers). The company was incorporated in 2021 and converted to a public limited company in late 2024. Its manufacturing plant in Hisar, Haryana currently has an annual capacity of around 72,000 units, with plans to expand capacity and add a semi‑automated three‑wheeler facility as demand grows. In financial year 2025, Zelio reported revenue of approx...Read More

Zelio E-Mobility Ltd. is an Indian manufacturer of electric two‑wheelers (and in some cases three‑wheelers), producing under the brand “Zelio” (for scooters) and “Tanga” (for 3‑wheelers). The company was incorporated in 2021 and converted to a public limited company in late 2024. Its manufacturing plant in Hisar, Haryana currently has an annual capacity of around 72,000 units, with plans to expand capacity and add a semi‑automated three‑wheeler facility as demand grows. In financial year 2025, Zelio reported revenue of approximately ₹172 crore, EBITDA around ₹21 crore and net profit (PAT) of about ₹16 crore. Between FY23 and FY25, the company delivered a high compound annual growth rate (CAGR) — roughly 83% for revenue and 128% for PAT — reflecting rapid growth and improving operating efficiencies. In late 2025, Zelio raised fresh capital through a ₹78 crore SME IPO, to fund capacity expansion, new manufacturing units, working capital, and partial pre‑payment of borrowings, aiming to better meet rising demand for EVs. Following the IPO and its first half of FY26, the company posted consolidated revenue of ₹134.78 crore and net profit of ₹11.87 crore — indicating continued momentum post-listing. With a growing nationwide dealer network (covering 20+ states), increasing EV adoption in India, and management’s focus on capacity expansion and localisation via subsidiary for components, Zelio is positioning itself as a rising domestic player in the affordable EV two‑/three‑wheeler segment. That said, its future success will depend on scaling production efficiently, supply‑chain execution, and maintaining competitiveness and product quality as it expands. ...Read Less