Date: May 29, 2026
Financial Results
FY26 Total Income: ₹7,537 Crores vs ₹6,876 Crores in FY25 (10% increase)
FY26 EBITDA: ₹98 Crores (excluding Mark-to-Market fair value loss of ₹172 Crores on investment in shares of RattanIndia Power Ltd.)
Cocoblu Retail Performance
Q4 FY26 Total Income: ₹1,647 Crores vs ₹1,464 Crores in Q4 FY25 (13% increase)
Growth driven by Amazon ecosystem integration and vendor expansion
Operational Metrics:
- 5-star rating consistently on Amazon platform
- Served 20,000+ pin codes across India (covering 99.9+%)
- Tied up with 520 Amazon fulfilment centres & Quick Commerce dark stores
- 1,500+ active vendors in Q4 FY26 (vs 1,200+ in FY25)
- ~8.4 million unique items offered
- ~45 Crore orders served till date
- ~3 Crore orders served in Q4 FY26 (~4 orders per second)
Global Expansion
Commenced business operations in the Middle East with Noon - a leading regional e-commerce marketplace
Noon is one of the largest e-commerce platforms in the MENA (Middle East and North Africa) region
Partnership leverages noon's marketplace operations and Cocoblu's sourcing strengths
Revolt Motors EV Business
Market Position: ~70% share of India's EV Motorcycle market in FY25-26
Dealer Network: 221 stores across 202 cities in 24 states/UTs
International Operations: Operating dealerships in Sri Lanka & Nepal
Brand Ambassador: Hardik Pandya joined as Brand Ambassador
Product Portfolio:
- RV1: Range 100 kms, Price ₹99,999, Battery 2.2 kwH (Commuter)
- RV1+: Range 160 kms, Price ₹1,04,990, Battery 3.24 kwH (Commuter)
- RV BlazeX: Range 150 kms, Price ₹1,19,990, Battery 3.24 kwH (Commuter)
- RV400 BRZ: Range 150 kms, Price ₹1,29,950, Battery 3.24 kwH (Sports)
- RV400: Range 150 kms, Price ₹1,39,950, Battery 3.24 kwH (Sports)
Subsidy Status: Received official approval for Government of India's EV subsidy schemes from Ministry of Heavy Industries
All past issues related to FAME II subsidies stand fully resolved
Currently receives ₹5,000 per motorcycle under PM-E Drive subsidy scheme
NeoSky Drone Business
FY26 Performance: Total income grew 6X between FY25 to FY26
Customer Acquisition: Acquired over 30 new customers in FY26
Drone Deliveries: Delivered '00's of drones in FY26, 210% higher than previous year
Drone Types Delivered: OFC drones, GPR drone, Weaponized drones, Surveillance (Tavas AI), Training, Mapping, Videography, Agri drones
Training: Completed drone training for close to 1,500 students in FY26 (85,000 hours of training, 207% higher than previous year)
Defence Contracts:
- Weaponized drones equipped with grenade-dropping mechanism and AK-47/Mortar payload capability delivered to Indian Army
- Developed GPR (Ground Penetrating Radar) for landmine detection delivered to DRDO
- Delivered drones to Centre for Counter Terrorism (CCT) Police
- Started delivering surveillance drones to Indian Railways
Partnerships: NeoSky & FICCI association expanded to 14 new locations for drone demonstration and training
Trained more than 200 women through FICCI FLO partnership
Gen Z Brand Portfolio (NeoBrands)
Growing at ~21% YoY with 7 Amazon-native brands:
- Fyltr: Western Clothing (ASP: INR 499-999)
- Inkd: Denim (ASP: INR 699-1,299)
- Pump'd: Athleisure (ASP: INR 349-1,149)
- Kaari: Ethnic Premium Wear (ASP: INR 999-1,699)
- Kalaanj: Ethnic Economy Wear (ASP: INR 499-699)
- Akkord: Musical Instruments (Pricing: INR 199-3,999)
- Neomate: Stationery (Pricing: INR 189-699)
Management Team
Mr. Mouli Venkataraman - CEO Ecommerce (Alumnus IIT Madras and IIM Lucknow, previously at Cloudtail India, Arvind Lifestyle Brands, Nokia, Asian Paints)
Mr. Ashok Kumar Sharma - Chief Financial Officer (30+ years experience, 23 years with the group)
Mr. Rajesh Arora - Company Secretary (28 years experience, previously at Britannia Industries, M&M Ltd)
Mr. Davinder Dogra - Head Investor Relations (25+ years experience, previously at DLF, Future Group, Airtel, PepsiCo, Pernod Ricard)
Mr. Archit Patwari - CFO Cocoblu (Chartered Accountant and Company Secretary, previously at Deloitte, Goldman Sachs, Cloudtail, Jumbotail)
Governance
50% of Board is independent
Statutorily audited by Walker Chandiok & Co LLP (GT)
Governance committees headed by Independent Directors
Great Place To Work® certified for 2025-26
Business Philosophy
New Age businesses, ESG compliant, Direct to consumer engagement, Staying away from debt-heavy businesses, Low capex, Clean tech focus, Rapid scalability, Aiming to be amongst the leaders