Electric Bus Maker Reports Five-Fold Sales Growth in FY26, Expands Manufacturing

Key Highlights

• Company reports five-fold year-on-year sales growth with 1,143 units dispatched in FY26
• Production reached 1,344 units reflecting increased operations and demand for electric mobility
• Manufacturing capacity expanded with new plant and plans for 10,000 buses annually
• Electric buses deployed in African markets with agreements for assembly and distribution
• Company plans to manufacture electric buses in Australia as part of global expansion

Strong Growth Across Segments

The company's growth was driven by expansion into several segments. These included electric buses, small commercial vehicles (SCVs), and a new entry into the medium and heavy commercial vehicle (M&HCV) truck segment. Electric buses remained a key contributor, supported by deployments across multiple states under government-backed programmes.

The SCV segment also experienced increased adoption, especially for last-mile and intra-city mobility. The addition of electric trucks opened a new avenue for growth during the year. This multi-segment strategy allowed the company to address a broader market and meet diverse transportation needs.

Manufacturing Expansion and Capacity Increase

The company expanded its manufacturing footprint to support higher demand. It now operates two facilities in Pune, with another plant in Pithampura, Madhya Pradesh nearing completion. The company increased its planned annual capacity to 10,000 buses, 6,000 trucks, and 24,000 SCVs. Sudhir Mehta, Founder and Chairman, stated that the company is not only scaling volumes but also expanding its manufacturing capabilities to meet rising demand across segments and geographies.

International Initiatives and Future Plans

Internationally, the company began deploying electric buses in African markets. It entered into agreements for assembly and distribution in these regions. The company also announced plans to manufacture electric buses in Australia, marking early steps toward global expansion. These initiatives reflect the company's strategy to extend its presence beyond India and tap into emerging markets for electric mobility solutions.

The company's efforts align with the broader industry trend toward electrification of commercial vehicles. Its increased production and expanded manufacturing capacity position it to meet both domestic and international demand in the coming years.