Zelio E-Mobility Starts Production at Hisar Plant, Adds 72,000 Annual Unit Capacity

Key numbers

New Capacity	72,000 UnitsPer Annum
Market Cap	₹2,199.6 CrSmall Cap
Annual Revenue	₹310.71 CrFY26 Actual
P/E TTM	77.49Sector: 31.38

Key highlights

• New manufacturing plant at Patan, Hisar commenced production on October 28, 2026
• Facility adds 48,000 electric two-wheeler units and 24,000 three-wheeler units per annum
• Total capital investment in the new Patan plant exceeds ₹20 crore
• Expansion funded through a combination of IPO proceeds and internal accruals
• The plant aims to optimize logistics and achieve greater operating leverage in Q3 FY27

Strategic Expansion in Hisar for EV Manufacturing

Zelio E-Mobility Limited has announced the commencement of commercial production at its new manufacturing facility located in Patan, Hisar, Haryana, effective October 28, 2026. This move marks a significant step in the company's approved capital expenditure plan, involving an investment exceeding ₹20 crore. The primary objective behind this facility is to enhance overall production capacity, improve regional supply efficiency, and optimize logistics.

Additionally, the plant is designed to support backward integration and achieve greater operating leverage, with a major portion of the investment directed towards enhancing the manufacturing process for its electric vehicle portfolio.

Scaling Production to Meet Rising Demand

• The expansion adds a total of 72,000 units per annum to the company's existing manufacturing footprint of 2,40,000 units.
• Production capacity for electric two-wheelers will increase by 48,000 units annually at the new site.
• The electric three-wheeler segment sees an additional capacity of 24,000 units per annum.
• A portion of the investment was funded through IPO proceeds in accordance with the objects of the issue.
• Remaining capital requirements for the plant are being met through the company's internal accruals.
• The new capacity is expected to be fully integrated into operations during the third quarter of FY 2026-27.

Historical Growth Trajectory and Management Outlook

The Hisar plant commencement follows a series of aggressive capacity additions by Zelio E-Mobility throughout 2026. In July, the company operationalized its Coimbatore plant, which added 60,000 units, bringing the total capacity at that time to 2,40,000 units per annum. Earlier in February 2026, the company expanded its Cuttack facility and upgraded its Ladwa plant.

Management has provided guidance for FY27 targeting a revenue range of ₹400–450 crore and sales volumes exceeding 125,000 units. The company's momentum is further supported by a recent EGM approval for a ₹167.96 crore preferential issue to fund future manufacturing milestones.

What to watch next

• Execution and allotment of ₹167.96 crore preferential issue following October 2026 EGM approval
• Expansion of the dealership network to reach a target of 550+ outlets by the end of FY27
• Achievement of FY27 revenue guidance of ₹400-450 crore as production scales
• Next financial results announcement scheduled for May 2027

Zelio E Mobility · financial snapshot

Share price	₹1040
Market capitalisation	₹2,199.60 Cr
Revenue (annual)	₹310.71 Cr
Net profit (annual)	₹28.39 Cr
P/E (TTM)	77.49×Sector 31.38×
Promoter holding	72.77%
FII holding	0.01%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.