Why Choose us

About Zelio

India’s fastest-growing electric mobility company manufacturing and supplying stylish slow speed 2Ws and rugged 3Ws for Bharat
Among top 3 players in slow speed EV 2W Industry
Achieved 3x growth in revenue since FY2023 (CAGR 84%)
70,000+ units sold in last 3 years (4-5 % Market Share)
One of the EV companies in India to remain profitable since inception, delivering a PAT CAGR of ~124% since FY2023
2 “Make in India” models | Tier-2 & 3 focused | Aligned with Aatmanirbhar mission

335+

Strong distribution network spread across 25+ states & UTs

Capacity:
72,000 → 1,20,000

P. A. Units (scalable in existing premises)

Key Metrics

₹ 417 Cr.

Market Cap

₹ 198

CMP

₹ 172 Cr.

Revenue (FY25)

85.75%

RoE

36.86%

RoCE

India’s EV Revolution: Low-Speed 2Ws Catching Up with High-Speed Growth

High speed and Low speed Parallel Growth Curves

Registering around 30% annual growth (CAGR)

Zelio strategically positioned at Slow-Speed EV segment

  • Scaling from – FY22: ~3,000 units ———— FY25: 37,800 units with 330+ dealer network.
  • As one of the few profitable EV players with a ~5% market share in slow speed EV industry, Zelio exemplifies sustainable, volume-led growth in India’s evolving EV landscape.

Urban Market

(Metro and Tier 1 Cities)

High Speed E-2W

FY28 E – 25 Lakh units

Bharat Market

(Tier 2 and Tier 3 Cities)

Low Speed E-2W

FY28 E – 17.57 Lakhs units

VISION

  • We aims to be a benchmark brand in India’s slow-speed EV 2W segment, delivering reliable, high-quality vehicles backed by strong service support and trusted by housewives, students, and senior citizens across Tier-2 and Tier-3
  • Focused on accessible mobility and sustainable growth, driven by no-license, no-registration EVs that promote customer delight, economic inclusion, and a greener future.
  • To accelerate India’s transition to sustainable mobility by delivering reliable,high-quality slow-speed 2W and 3W EVs ensuring easy adoption for everyhousehold.
  • Guided by the spirit of Aatmanirbhar Bharat, we aim to strengthen domestic EV manufacturing, supply chain localization, and job creation, while deliveringaffordable innovation and nationwide mobility access

MISSION

Contributing in India's EV Self-Reliance

→ Building an Atmanirbhar EV Supply Chain, From CKD assembler today → India-first manufacturer tomorrow

→ Zelio’s commitment to quality aligns with Make in India’s emphasis on world-class manufacturing standards

→ Manufacturing 24,458.01 SM Facility

→ Human Resources 190+ Employees as on August 31, 2025

→ Strategic Benefits

  • Reduced forex risk and dependence on imports.
  • Enhanced supply chain control and quality management.
  • Cost optimization through local sourcing.
  • Improved margins through manufacturing efficiencies.

→ Obtained ISO 9001:2015, 14001:2015, 45001:2018 Certifications

Dealer Network

Strategic Expansion

  • Dealer network has grown more than 3x since FY21 (from 94 to
    337+)
  • Quarterly onboarding drives to scale network with market
    demand
  • Focused growth in Tier II/III and emerging EV markets

Partner Success Model

  • Comprehensive training & support for all dealer partners
  • Integrated portal for sales, inventory, and after-sales service
    tracking
  • Fast response service and warranty support

Vision Forward

  • Targeting 500+ dealers by FY27 with presence in every major district of India
  • Dealer-centric digital platforms to empower partners and improve efficiencies

Competitive Strengths

Experienced Promoters with senior management backed by marketing team

Promoters and senior management are backed by in-house sales and marketing team of 21 employees as on August 31, 2025

Geographically Diversified customer base

As of March 31, 2025 and FY ending 2023-24, 2022-23 and 2021-22, contributing 88.99%, 95.49%, 97.60% and 100.00% of total revenue from sales in top 10 geographical regions

Proven track record of Financial Success

Revenue grew from Rs.5,125.10 lakhs in FY 2023 to Rs. 17,218.94 lakhs in 2025. EBITDA rose from Rs .401.91 lakhs to Rs. 2,102.03 lakhs, with margin improving from 7.84% to 12.21%. PAT increased from Rs. 305.53 lakhs to Rs. 1,600.85 lakhs over the same period

Bharat Focus (An Untapped Market)

Aggressively expanding in Tier-II and Tier-III towns across India. Among the most recognized affordable EV brands in Northern & Eastern India. Dealer presence strategically scaled every quarter to unlock new local markets.

Business Strategies

1. Expand Our Manufacturing Facility

Company is committed to expanding its manufacturing capabilities, For pursuing the same, land has been acquired via a 10-year lease agreement, dated February 13, 2025

2. Expansion of Our Geographical Footprint

Through geographic diversification, aim to mitigate operational risks associated with overreliance on specific regions

3. Scale Up Branding and Promotional Activities

Intend to continue marketing initiatives through regular participation in national level exhibitions, regular visit in international trade fairs, sales & promotional videos

Government Initiatives

The Government has reaffirmed itscommitment towards EVs and its mission for 30% electric mobility by 2030

Budget announced customs duty exemption on the import of capital goods and machinery required for the manufacture of lithium-ion batteries

FAME II for EV Scheme was Commenced on 1st April 2019 with a total budgetary support of US$ 1.43 billion (Rs. 10,000 crore), 30% procurement of manufactured or processed products must be from SMEs

As of December 2023, EV manufacturers received a subsidy of US$ 637 million (Rs. 5294.00 crore) for selling 11,79,669 electric vehicles under Phase-II of the FAME India Scheme

Electric Mobility Promotion scheme: Scheme supports 3,72,215 EVs, comprising 3,33,387 e-2Ws, and 38,828 e-3Ws (including 13,590 rickshaws & e-carts and 25,238 e3Ws in L5 category), offering incentives exclusively for advanced battery-equipped vehicles

Zelio E-Mobility Limited - Company Overview

Zelio E-Mobility Limited is a 100% Indian electric vehicle manufacturer incorporated in 2021, founded by Neeraj Arya and Kunal Arya, and headquartered at Shop No. 542, Auto Market, Hisar, Haryana. The company is registered with the Registrar of Companies, Delhi (CIN: U34102HR2021PLC096362), with an authorized share capital of Rs 25 crore and paid-up capital of Rs 16.53 crore. Its directors include Kunal Arya, Niraj Arya, Deepak Arya, Sayuri Arya, Meenakshi Jain, and Sulabh Jain.

Products and Brands

The company operates under two distinct brands: Zelio for electric two-wheelers (E-2Ws) and Tanga for electric three-wheelers (E-3Ws). Its E-2W lineup includes models such as Eeva, Gracy, Gracy Pro, Legender, Legender Plus, Mystery, XMen, Logix, and the newly launched Little Gracy – a license-free scooter targeting riders aged 16-18, priced at Rs 52,500. Its three-wheeler range includes the Tanga Butterfly and Tanga SS, launched at the EV India Expo 2024, and the Tanga e-Loader for last-mile commercial delivery. All vehicles are specifically engineered for Indian road conditions rather than adapted from European or Mandarin market designs. Batteries are removable and chargeable at standard 5-amp household sockets.

Manufacturing Footprint

The company’s primary manufacturing facility is in Hisar, Haryana. The Odisha facility commenced operations in February 2026, while the Patan manufacturing facility was targeted for commissioning by April 2026. Subject to stabilization of the Odisha and Patan facilities, the company is also evaluating opportunities for an additional manufacturing or assembly facility in Southern India. Existing production capacity has been expanded by 70% to over 1,20,000 units per annum, with the company expecting 85% capacity utilization for FY26.

Subsidiary

In May 2025, Zelio incorporated Zelio Auto Components as a subsidiary to increase localization of parts, improve cost control, and strengthen margins. The subsidiary’s results are consolidated into the parent company’s financials from H1 FY26 onwards.

Recent Financial Performance

For H1 FY26 (April–September 2025), Zelio reported consolidated revenue of Rs 134.78 crore and net profit of Rs 11.87 crore. On a standalone basis, revenue rose 77% year-on-year to Rs 133.3 crore, while profit after tax climbed 69% to Rs 11.8 crore, up from Rs 7 crore in H1 FY25. Sequential PAT growth was 33%.

In Q3 FY26, the company posted a 67% increase in revenue to Rs 91.6 crore from Rs 54.94 crore in Q3 FY25. During the Diwali festive period, unit sales increased 74% year-on-year, with revenues growing 64% year-on-year and festive unit volumes hitting 13,566 units.

The company’s 2-year Profit CAGR stands at 124% and Sales CAGR at 84%, and it remains on track for a turnover of over Rs 260 crore in FY26, representing more than 51% growth over FY25. Between FY24 and FY25, revenue grew 83% and PAT rose 154%

 

IPO and Stock Market Listing

Zelio went public on the BSE SME platform. IPO proceeds were used primarily for debt repayment, capacity expansion, and working capital support.

The SME IPO raised Rs 78 crore at an issue price of Rs 136 per share, with the IPO open from September 30 to October 3, 2025. Hem Securities Ltd. was the book-running lead manager and Maashitla Securities Pvt. Ltd. was the registrar.

Distribution Network

The dealer network has expanded to 360+ dealerships across 25+ states. The network spans urban, semi-urban, and Tier-2/Tier-3 markets, which represent the company’s primary growth engine. The company also claims over 2 lakh satisfied riders.

Key Strategic Differentiators

Zelio claims it does not rely on government subsidies, which insulates it from policy volatility as EV incentives taper over time. The company has reached profitability ahead of much larger EV peers such as Ola Electric and Ather Energy. Its focus on the slow-speed EV segment – affordable, practical, low-maintenance two- and three-wheelers – targets cost-sensitive buyers in smaller towns where total cost of ownership matters more than performance.

According to MD Kunal Arya, fuel savings alone can recover the cost of the scooter within two years, making the economics compelling for last-mile commercial users.

 

FAQs about Zelio E Mobility Limited

Q1: What is Zelio E Mobility and what does the company do?

Zelio E Mobility (also known as Zelio E Mobility Limited) is a 100% Indian electric vehicle manufacturer. Incorporated in 2021, Zelio E Mobility Limited is engaged in manufacturing, assembling, and supplying electric vehicles – including two-wheelers under the “Zelio” brand and three-wheelers under the “Tanga” brand. Company headquarters is located in Hisar, Haryana, and the company was co-founded by Neeraj Arya and Kunal Arya with the mission to make clean, affordable mobility accessible to every Indian. Zelio E Mobility also have manufacturing plants in Odisha and Coimbatore.

Zelio E Mobility products span a wide range of electric scooters and three-wheelers. Their portfolio of E-2Ws includes scooter series such as EEVA, Gracy, Legender, XMen and Mystery while the 3W range includes Tanga and Tanga e-Loader. With 19 electric scooter models in total, Zelio E Mobility electric scooter variants cater to students, families, daily commuters, and even young riders with low speed scooter range..

Zelio E Mobility scooter price starts at an accessible Rs 42,000 for the Little Gracy and goes up to Rs 80,000 for some Lithium battery models. The most popular models include the Zelio Eeva (Rs 50,000), Zelio Gracy i (Rs 54,000), and Zelio X Men 2.0 (Rs 69,499). When comparing Zelio E Mobility price across variants, buyers should also factor in on-road costs such as insurance and registration charges applicable on higher-speed models.

The Zelio E Mobility IPO was one of the most watched SME listings in India’s EV segment.

The Zelio E Mobility Limited IPO was an SME IPO of 57,60,000 equity shares with a face value of Rs 10, aggregating up to Rs 78 crores. Bidding opened on September 30, 2025 and closed on October 3, 2025, with allotment finalised on October 6, 2025.

This was a landmark moment for Zelio E Mobility news watchers and investors tracking the EV sector.

The Zelio E Mobility IPO price band was set at Rs 129-136 per share. The Zelio E Mobility IPO lot size was 1,000 shares, with a minimum and maximum retail investment of Rs 2,72,000 for two lots.

Regarding the Zelio E Mobility IPO GMP (Grey Market Premium), market sentiment was positive ahead of listing. The listing price was Rs 154.9, meaning investors who applied for the IPO made a profit of approximately 13.9% on listing day.

The Zelio E Mobility share price has seen strong momentum since its listing. The 52-week high of Zelio E Mobility Ltd share price is Rs 610.00, while the 52-week low stands at Rs 154.90 (listing price), reflecting significant investor interest following its BSE SME listing in October 2025.

Investors tracking the Zelio E Mobility Limited share price can monitor it live on BSE SME, or through platforms like Kite, Groww, ICICI Direct, and Screener.

As on 2nd April, 2026, Zelio E Mobility share price is Rs 347 with a market cap of Rs 745 crores.

For those using a Zelio E Mobility screener, the stock is listed on BSE SME and widely covered on financial platforms.

On Screener, Zelio E Mobility is categorised under Consumer Discretionary – Automobile and Auto Components – Automobiles 2/3 Wheelers, with a market cap of approximately Rs 735 crore (as on 2nd April 2026) – please verify live price on BSE.

Detailed financial ratios, profit & loss statements, and peer comparisons for the Zelio E Mobility share can be found on platforms like Screener.in, Groww, and Trendlyne.

Zelio E Mobility Limited has demonstrated impressive growth in recent years. The company’s revenue increased by 83% and profit after tax rose by 154% between the financial years ending March 31, 2024 and March 31, 2025.

Zelio E Mobility Ltd is among India’s top 3 slow-speed EV 2-wheeler manufacturers, with 3x revenue growth since FY2023 and a 5% market share. This strong performance has made Zelio E Mobility Limited IPO investors and analysts take note of the company’s trajectory.

Recent Zelio E Mobility news highlights rapid expansion. In February 2026, Zelio commissioned its Cuttack plant, raising annual capacity from 72,000 to 1,80,000 units, with Odisha adding 60,000 units under an investment of under Rs 3 crore. Additionally, Zelio launched new models X-Men+ and Gracy+ in 2026.

Zelio E Mobility also announced partnership with Punjab Kings team in March 2026 to improve brand’s national visibility after provisioning Rs 2.5 crores for all marketing activities in the upcoming financial year.

For inquiries, you can reach the team at info@zelioebikes.com, or contact customer care at 9992229874 and the sales team at 9254993050.

For Dealer Locations – Visit our Dealer Locator on Zelioebikes.com

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