Zelio E-Mobility’s Net Profit Zooms 2.6X YoY To ₹31 Cr In H1

BSE SME-listed electric vehicle (EV) maker Zelio E-Mobility’s consolidated net profit surged 164.3% to ₹31.4 Cr in the first half (H1) of the fiscal year 2026-27 (FY27) compared to ₹11.9 Cr in the year-ago period. Its bottom line also jumped 90.1% from ₹16.5 Cr in H2 FY26. 

Operating revenue also grew 120% to ₹296.7 Cr in H1 FY27 as against ₹134.8 Cr during the corresponding period last fiscal. Sequentially, the top line rose 68.3% from ₹175.9 Cr in H2 FY26.

Including other income of ₹3.1 Cr, Zelio Mobility’s total revenue stood at ₹299.8 Cr for the period under review. 

Meanwhile, total expenses more than doubled to ₹261.5 Cr for the half-yearly period ended September 2026 from ₹121.4 Cr in H1 FY26. 

Zelio also incurred ₹6.9 Cr in tax expenses in H1 FY27. Of this, ₹6.6 Cr was attributable to current tax expenditure, while the remaining ₹23.2 Lakh pertained to deferred taxes. 

Founded in 2021 by Neeraj Arya, Zelio E-Mobility manufactures electric scooters at its factory located in Hisar and primarily operates in the low-speed, non-RTO electric scooter segment. It operates in over 25 states with a network of more than 300 dealers. 

The EV manufacturer operates manufacturing units across multiple cities and towns including Ladwa, Hisar, Alarpur and Cuttack. The OEM also inaugurated a manufacturing plant in Coimbatore in July this year to increase its annual manufacturing capacity to 2.4 Lakh units.

That said, the EV maker plans to further scale its growth initiatives going forward. As part of this, the company’s board, in September, approved a proposal to raise up to ₹167.9 Cr via a preferential issue of equity shares and convertible warrants. It also received shareholder approval for the fundraise at its extraordinary general meeting (EGM) last month.

Zooming Into Zelio’s H1 FY27 Expenses

Expenses continued to bite Zelio E-Mobility in the half-yearly period ended September 2026. Here is how the EV maker spent in H1 FY27:

Cost of Material Consumed: This was the biggest cost centre for the company. The EV maker spent ₹231.4 Cr under this header during the period under review, up 126% from ₹102.4 Cr in H1 FY26.

Direct Expenses: The EV maker also spent ₹8.3 Cr towards direct costs in H1 FY27 as against ₹4.2 Cr in the year ago fiscal year. 

Employee Benefits Expenses: The OEM also spent ₹6.9 Cr towards employee salaries and other allied incentives in the first half of FY27, zooming 93.6% from ₹3.5 Cr in the year-ago period.

Other Expenses: Costs under this bucket more than doubled (108% to be precise) to ₹16.6 Cr in H1 FY27 as against nearly ₹8 Cr in H1 FY26.

Shares of Zelio ended Friday’s trading session 5% higher at ₹1,127.15 apiece on the BSE.

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