EV Maker Tunwal Crosses ₹276 Crore Revenue in FY2026, Grows 55% Riding Tier II City Demand
Tunwal E-Motors records a peak ₹276.84 Cr revenue in FY26. The brand's 55% YoY jump outpaces the broader Indian electric two-wheeler sector's growth by more than 2.5x.
- (1888PressRelease) June 07, 2026 - Tunwal E-Motors Limited (NSE: INE0OXV01027), an electric two-wheeler company with deep roots in Maharashtra and manufacturing expertise built over a decade, crossed ₹276.84 crore in revenue for FY2025-26 - a 55% jump over the previous year. The growth, driven largely by expanded reach in eastern India and deeper Tier II and III city penetration, reflects rising EV adoption among India's everyday commuters who are switching away from petrol for practical, economic reasons rather than aspiration.
Founded in 2014 with a focus on making electric mobility genuinely accessible - not just affordable - Tunwal's product range addresses the specific realities of non-metro India. Its low-speed scooter lineup (priced from ₹41,222) requires no RTO registration and no driving licence under the Motor Vehicles Act, making them accessible to women riders, senior citizens, and first-time vehicle buyers across India's smaller cities and towns. The company now serves customers through dealer and service touchpoints in 19+ states.
FY2026 saw particular growth in eastern India - a market where EV penetration has historically lagged but is now accelerating rapidly. Financing accessibility improvements through NBFC partnerships and strengthened after-sales infrastructure were key operational drivers of the year's performance. Financially, the company delivered operating profit of ₹20 crore (up 67%), profit before tax of ₹17.02 crore (up 13%), and net profit of ₹12.73 crore. Net worth stood at ₹125.74 crore. The results follow a four-year revenue trajectory that has seen the company grow from ₹75 crore in FY2022 to ₹276.84 crore in FY2026.
India's electric two-wheeler market grew approximately 22% in FY2025-26. Tunwal's 55% growth - 2.5 times the industry rate - came predominantly from Tier II and III city expansion and eastern India deepening, markets that are emerging as the next major growth front for EV adoption in the country.
ABOUT TUNWAL E-MOTORS LIMITED
Tunwal E-Motors Limited is a publicly listed Indian electric two-wheeler manufacturer (NSE: INE0OXV01027) headquartered in Rajasthan. Founded with a mission to make clean, affordable electric mobility accessible to every Indian, the company offers a range of electric scooters distributed through a pan-India dealer and service network spanning 19+ states. From near-zero revenues in FY2019, Tunwal has scaled to ₹276.84 crore in FY2026 - one of the most consistent EV growth trajectories among publicly listed players in India.
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