ANNOUNCMENT UNDER REGULATION 30- CAPACITY EXPANSION IN EXISTING PLANT AND COMMENCEMNET OF NEW MANUFACTURING PLANT AT ODISHA
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Zelio E-Mobility has increased its total electric vehicle manufacturing capacity by 2.5x, from 72,000 units per annum to 1,80,000 units per annum, effective February 23, 2026. The existing plant at Ladwa, Hisar (Haryana) was expanded from 72,000 to 1,20,000 units per annum through process optimization like an extended conveyor belt and additional machinery, requiring minimal incremental capex. A brand-new greenfield plant at Cuttack, Odisha has commenced commercial production, adding 60,000 units per annum of capacity. The company's existing capacity utilization was around 85% (FY26 projected), indicating strong demand. The expansion is funded through internal accruals and existing resources, aimed at meeting rising demand, improving supply chain efficiency, and building a pan-India manufacturing footprint.
Positive for shareholders — capacity has tripled at low incremental cost, signalling strong demand traction (85% utilization) and positioning the company for revenue growth, though execution and offtake of the new Odisha capacity will be the key things to watch.