Zypp Electric Revenue Performance FY26

Zypp Electric has reported its FY26 revenue figures, achieving Rs 461 crore, which is below its initial target of Rs 600 crore. The B2B delivery and shared mobility startup experienced a modest growth rate of 5% year-on-year.

Revenue Details for FY26

The company’s operational revenue increased slightly from Rs 438 crore in FY25 to Rs 461 crore in FY26, as per its consolidated financial statements from the Registrar of Companies (RoC). Zypp Electric operates as an EV-as-a-service platform, providing electric vehicle rentals and delivery services through its fleet of e-scooters, specifically targeting gig workers.

Breakdown of Revenue Sources

Delivery services contributed approximately 60% of Zypp’s operating revenue, remaining relatively stable at Rs 322 crore for FY26. In contrast, income derived from vehicle rentals saw a 24% increase, reaching Rs 138 crore. Additionally, Zypp Electric garnered Rs 15 crore from interest income, bringing its total income to Rs 476 crore for the fiscal year.

Expenditure Analysis

Despite the moderate revenue growth, Zypp Electric managed to achieve a reduction in rider expenses by 5.6%, bringing them down to Rs 335 crore in FY26. Employee benefit costs also decreased to Rs 64 crore. Total expenditure, driven by rental, battery-swapping, and other overhead costs, amounted to Rs 535 crore during the fiscal year.

Loss Reduction

With restrained expenditure alongside limited revenue growth, Zypp Electric reduced its losses by 44%, lowering them from Rs 107 crore in FY25 to Rs 60 crore in FY26. The company’s accumulated losses stood at Rs 320 crore as of March 2026.

Financial Ratios

In FY26, Zypp Electric recorded a return on capital employed (ROCE) of -41.33%, while its EBITDA margin improved to -2.82%. The financial data indicates that the company spent Rs 1.16 to generate every rupee of revenue.

Funding and Competitors

Zypp Electric has successfully raised around $76.5 million in total funding, with ENEOS Group as the lead investor. Last year, the company raised $6.5 million from 16 investors as part of its Series C funding round. Meanwhile, its competitor Yulu secured $93 million in a Series C round led by GEF Capital. In FY25, Yulu recorded Rs 237 crore in revenue and a loss of Rs 126 crore, though it has yet to submit its annual results for FY26.