BSE: 544428
SUPERTECH EV LIMITED
Manufactures electric two-wheelers and three-wheelers, with the product line including the Zapster and Tiger electric scooters for personal use, the Pilot passenger three-wheeler, and the Load King electric loader for commercial cargo movement. The portfolio targets both personal commuters and commercial mobility buyers such as fleet and cargo operators. In February 2026, a new manufacturing facility at Harapanahalli, Karnataka was commissioned, adding annual capacity of 12,000 electric two-wheelers and 1,200 electric three-wheelers. FY26 revenue from operations was ₹78.04 crore, with the cost structure dominated by materials at 78.0% of revenue, employee costs at 3.4%, and other operating expenses at 13.9%. The company raised ₹2,989.63 lakhs through an IPO in June–July 2025 and listed on the BSE SME platform, deploying proceeds towards working capital, overdraft repayment, general corporate purposes, and issue expenses. Capex was 0.2% of revenue in FY26, indicating that capacity is being added incrementally rather than through large capital outlays. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Electric two-wheelers, Electric three-wheelers. Small-cap electric two- and three-wheeler assembler with a materials-heavy cost structure and incremental capacity additions
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 78 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 3.32 |
| ROE % · ROCE % | — · 12.2 |
| Debt / equity (x) | — |
| Cash from operations | (24) |
| Capex | (0) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 43 | 35 |
| Profit before tax | 5 | 0 |
| Net profit | — | — |
| EPS (₹) | 1.74 | 0.11 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ AUTO LIMITED | 2,69,354 | 22.9 | 6.70 | 19.0 | 26.3 | 23.1 | 17.8 | 24.1 |
| EICHER MOTORS LTD | 1,85,768 | 32.2 | 7.40 | 25.8 | 22.0 | 23.2 | 21.8 | 31.0 |
| TVS MOTOR COMPANY LTD | 1,82,410 | 53.2 | 17.03 | 25.1 | 29.7 | 19.9 | 23.6 | 15.4 |
| HERO MOTOCORP LIMITED | 97,179 | 17.8 | 4.46 | 12.2 | 26.5 | 29.9 | 8.9 | 16.8 |
| ATHER ENERGY LIMITED | 53,864 | — | — | — | — | — | — | 0.8 |
| OLA ELECTRIC MOBILITY LTD | 16,218 | — | 4.84 | — | (54.7) | (37.0) | — | (29.9) |
| Zelio E Mobility Limited | 2,337 | 73.4 | — | — | — | 29.9 | — | — |
| WARDWIZARD INNO & MOB L | 150 | 71.4 | 1.00 | 10.9 | 1.3 | 1.8 | — | 6.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.8 | 32.2 | 2 of 7 | 83% |
| ROCE | 10.3 | 21.5 | 6 of 8 | 29% |
| Market cap | 41 | 53864 | 9 of 9 | 0% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 25 Sept 2026 · 4th AGM concludes: All four resolutions approved by 99.49% majority | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Supertech EV 4th AGM concludes; FY26 profit falls about 36 percent | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Trading window closed from Oct 1, 2026 until H1 FY26 results announcement | compliance | minimal | — | — |
| 3 Sept 2026 · Newspaper publication of AGM notice for September 25, 2026 | compliance | minimal | — | — |
| 2 Sept 2026 · E-voting facility announced for 4th Annual General Meeting | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Supertech EV submits 4th Annual Report, 4th AGM set for Sept 25, 2026 | results | medium | — | — |
| 1 Sept 2026 · Board approves 4th AGM notice and appoints auditors for FY 2026-27 | board shareholder meetings | medium | — | — |
| 15 Jul 2026 · Quarterly compliance certificate for dematerialisation of shares | compliance | minimal | — | — |
| 14 Jul 2026 · Independent Director Mr. Sumit Khurana resigns from Supertech EV | management changes | medium | — | — |
| 13 Jul 2026 · Supertech EV appoints Deepak Chauhan as Independent Non-Executive Director | management changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.