Zypp Electric Targets INR 600 Cr Revenue in FY26 After EBITDA Breakeven

Gurugram-based EV as a service platform Zypp Electric has reported strong momentum across its operations after achieving EBITDA breakeven, while setting ambitious goals for the next two financial years.

The company expects to reach INR 600 crore in revenue by FY26 and is preparing for a potential public listing in FY27.

Zypp Electric recorded revenue of INR 448 crore in FY25, reflecting a year on year rise of 48 percent from INR 302.6 crore in FY24. The company said that it turned operationally profitable in July 2025, and its EBITDA margins improved from -19.3 percent in FY24 to +2 percent by September 2025.

Zypp has scaled from around 6,000 vehicles in 2022 to more than 20,000 electric two wheelers at present. Its long term plan includes deploying more than 1 lakh vehicles across 25 cities by 2030.

Akash Gupta, Co-founder and CEO of Zypp Electric, said, "Our next phase focuses on larger expansion, stronger profitability and smart business diversification. We are using our technology backbone through FleetEase.ai and exploring new revenue possibilities including fleet based advertising."

"Our aim is to develop an EV technology ecosystem that supports delivery partners through flexible rental options and accelerates India's shift toward electric mobility across both major metros and emerging Tier II cities," added Gupta.

The company has strengthened its operational model through multiple income streams that include EV rentals, logistics partnerships, advertising and software services. Its main revenue source continues to be the dual model of daily rentals and delivery commissions for large partners such as Zepto, Blinkit and Zomato.

Zypp has also launched an advertising division that uses its fleet and helmets as mobile branding spaces, generating INR 50 lakh since July 2025. Alongside this, its fleet management platform FleetEase.ai has been introduced as a subscription based service for external operators, priced between INR 149 and INR 499 per vehicle each month. This segment is projected to contribute roughly INR 60 lakh in FY26.

Zypp stated that a hybrid fleet structure using equal portions of leased and bank financed vehicles has improved capital efficiency and ensured nearly 90 percent vehicle uptime. The company is also widening its geographic footprint into Tier II markets, beginning with Jaipur in November 2025, with plans to expand across 25 cities in the next two years.

Its vehicle range is also expected to grow, with more than 1,000 electric three wheelers planned for deployment by March 2026. The company said its strategy places it on a clear path to becoming a major player in India's sustainable last mile logistics sector.