Zelio E-Mobility Ltd

- The company raised funds through its IPO, which has enabled capex investments, especially for the 3-wheeler plant. - For the 2-wheeler assembling plant in Odisha, the capex requirement is low, mainly for assembling rather than heavy manufacturing. - Regarding future fundraising, the company is currently working on expansion plans but has not disclosed specific details on new debt or equity fundraising. - When asked about how long expansion plans can run without fundraising, management replied they are working on it and will provide updates soon. - Overall, no explicit mention of imminent or planned new fundraising through debt or equity was provided during the call.

- Current capex includes less than INR 3 crores investment in the Odisha plant focused on 2-wheeler assembly. - A new 3-wheeler manufacturing plant in Patan (Hisar) is under construction and expected to be operational by April 2026, with capacity increasing from 2,000 units to 24,000 units annually. - Future capex will be planned for geographic expansion and setting up additional manufacturing facilities as needed. - The company raised funds through IPO to support the Patan plant and future capex requirements. - Capex for the Odisha 2-wheeler plant is primarily for assembly, requiring lower investment, supported by government subsidies. - Strategic focus on improving margins via in-house fabrication to reduce costs and increase market reach in 3-wheelers. - Planning continual capacity expansion aligned with demand growth and R&D initiatives for product development.

- FY26 revenue expected between INR 260 to 280 crores, with H1 at INR 134.78 crores (80% YoY growth). - FY26 sales volume target for 2-wheelers: over 60,000 units. - FY27 sales volume target for 2-wheelers: approximately 1 lakh units; for 3-wheelers: around 3,000 units. - FY27 revenue projection: approximately INR 400 to 450 crores. - Long-term goal to double revenue annually, targeting 20%-25% market share in slow-speed EV 2-wheeler segment. - Expansion with new plants in Odisha and Patan to increase capacity and improve logistics, reducing costs and enhancing margins. - Focus on expanding dealer network, R&D, and product line to sustain growth. - Expect rural and Tier 1 city demand to grow significantly, supporting volume increases. - Margins expected to be sustainable at 7%-8% EBITDA for 3-wheelers and stable for 2-wheelers despite volume growth.

- FY26 revenue expected between INR 260-280 crores, with EBITDA and PAT margins hoped to remain constant. - FY27 revenue guidance is approximately INR 400-450 crores, aiming to maintain stable margins. - Target sales volume for 2-wheelers in FY27 is 100,000 units; 3-wheelers target is around 3,000 units with potential upside as operations scale. - EBITDA margins for 2-wheelers currently at 13%, expected to remain stable; 3-wheeler margins to improve to 7-8% post own manufacturing plant operation starting April 2026. - Expansion plans include setting up the Odisha plant (operational from February) and Patan plant (April 2026) to increase capacity and reduce logistics cost, enhancing margin sustainability. - Long-term growth expects doubling business annually, with an aim to capture a 5-6% market share in the slow-speed EV segment by FY28. - Focus on R&D, improved localization (targeting 80% Indianization), and scaling operations to drive disciplined, profitable growth.

The transcript does not explicitly mention the current or expected order book or pending orders for Zelio E-Mobility Limited. However, related insights include: - H1 FY '26 sales: Approximately 30,000 units of 2-wheelers and 400 units of 3-wheelers delivered. - FY '26 target: Over 60,000 units of 2-wheelers and 1,000 units of 3-wheelers planned. - FY '27 target: Around 100,000 units of 2-wheelers and 3,000 units of 3-wheelers targeted. - Revenue guidance: INR 260-280 crores for FY '26, with INR 400-450 crores expected in FY '27. - Expansion of dealer network and setting up Odisha plant expected to boost deliveries and sales volumes. - Capacity expansion ongoing to meet growing demand. No specific data on order book or pending orders was disclosed during the investor call.