Synopsis: Mukul Mahavir Agrawal increased his stake by 5.25% to 7.25% in Zelio E-Mobility Limited in March 2026, signalling strong confidence in growth.
This Micro-cap Stock, engaged in manufacturing and selling electric two-wheelers, EV charging solutions, and lithium-ion batteries for sustainable mobility in India, hit a 5 percent upper circuit after Ace investor Mukul Mahavir Agrawal increased his stake by 5.25 percent in the March quarter of 2026.
With a market capitalization of Rs. 924.36 crores, the shares of Zelio E-Mobility Limited hit a 5 percent upper circuit of Rs. 437.05 per share on Thursday, up from its previous closing price of Rs. 416.25 per share.
Reason Behind the Surge
Zelio E-Mobility Limited is engaged in manufacturing and selling electric two-wheelers, focusing on affordable, eco-friendly mobility solutions for urban and semi-urban consumers in India. Ace investor Mukul Mahavir Agrawal has increased his stake in Zelio E-Mobility Limited in the March quarter of 2026.
Mukul Mahavir Agrawal is a prominent figure in the Indian stock market. According to recent shareholding disclosures, he holds stakes in around 72 listed companies, with a total portfolio value exceeding Rs. 6,871.5 crore, highlighting his strong presence and influence in the market.
In a recent quarter update, Mukul Mahavir Agrawal increased his holding in Zelio E-Mobility Limited from 2 percent in September 2025 to 7.25 percent in March 2026, marking a 5.25 percent increase in his stake. His current holding is valued at Rs. 63.8 crores and consists of 15.33 lakh shares in the company.
In the shareholding pattern of Zelio E-Mobility Limited, the company had a majority stake held by the promoters at 72.77 percent, foreign institutional investors at 0.09 percent, domestic institutional investors at 2.13 percent, and the public at 25.01 percent in the March Quarter of 2026.
Company Overview
Zelio E-Mobility Limited is one of India’s fastest-growing electric mobility companies, focused on manufacturing and supplying stylish low-speed electric two-wheelers and rugged three-wheelers tailored for the Bharat market.
The company has positioned itself among the top three players in the slow-speed EV 2W segment and has achieved strong revenue growth since FY2023, supported by rising demand for affordable and eco-friendly mobility solutions.
With over 70,000 units sold in the past three years and a wide distribution network spanning more than 25 states and union territories, Zelio continues to expand its footprint. The company has also maintained profitability since inception and is scaling its production capacity from 72,000 to 120,000 units annually, aligning with its “Make in India” focus and growth strategy.
Recent Quarter Results
Coming into financial highlights, Zelio E-Mobility Limited’s revenue has increased from Rs. 75 crore in H1 FY25 to Rs. 133 crore in H1 FY26, which has grown by 77.33 percent. The net profit has also grown by 71.43 percent from Rs. 7 crore in H1 FY25 to Rs. 12 crore in H1 FY26.
Zelio E-Mobility Limited’s revenue and net profit have grown at a CAGR of 136.52 percent and 151.98 percent, respectively, over the last three years.
In terms of return ratios, the company’s ROCE and ROE stand at 51.8 percent and 85.8 percent, respectively. Zelio E-Mobility Limited has an earnings per share (EPS) of Rs. 12.6, and its debt-to-equity ratio is 0.70x.
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