Date: August 14, 2026
Renewable Energy Generation Business (Portfolio Update)
Operational Capacity (261.2 MWp across 77 locations):
- MSKVY-1: 19 locations, 135.8 MWp, off-taker MSEDCL (Maharashtra), commissioned Oct-2025
- MSKVY-2: 15 locations, 58.7 MWp, off-taker MSEDCL (Maharashtra), commissioned Jun-2026
- Karnataka: 14 locations, 34.2 MWp, off-taker Karnataka DISCOMs, commissioned Aug-2017
- Rooftop: 21 locations, 5.1 MWp, off-taker Private consumers (Maharashtra & Karnataka), commissioned 2018-2025
- Wind Asset (51% stake): 1 location, 1.3 MWp, off-taker Private consumers (Maharashtra), commissioned Mar-2006
- Open Access: 7 locations, 26.2 MWp, off-taker Private consumers (Maharashtra), commissioned Oct-2025 to May-2026
Under Construction & Development (231.1 MWp across 37 locations):
- Open Access: 1 location, 3.8 MWp, off-taker Private consumer (Maharashtra), expected Dec-2026
- MSKVY-3: 23 locations, 156.0 MWp, off-taker MSEDCL (Maharashtra), expected Sep-2027
- Karnataka-2: 13 locations, 71.3 MWp, off-taker HESCOM (Karnataka), expected Jan-2027 (10 out of 13 locations)
Operational Performance (Quarter Ended June 30, 2026):
| Project Type | Locations | MWp | June-26 (KWh in Lakhs) | June-25 (KWh in Lakhs) | YoY Change | Mar-26 (KWh in Lakhs) |
| MSKVY Phase-I | 19 | 135.8 | 530.4 | 102.5 | - | 1,255.5 |
| MSKVY Phase-II | 15 | 58.7 | 132.7 | - | - | 44.3 |
| Karnataka | 14 | 34.2 | 138.1 | 122.3 | 12.9% | 469.2 |
| Rooftop | 21 | 5.1 | 19.3 | 16.8 | 14.8% | 64.8 |
| Wind Asset | 1 | 1.3 | 5.7 | 5.7 | -0.2% | 13.8 |
| Open Access | 7 | 26.2 | 51.6 | - | - | 93.5 |
| Total | 77 | 261.2 | 877.8 | 247.3 | | 1,941.1 |
Electric Vehicle Business Activities (EIM)
Operational Performance:
| Parameter | Units | 30th June 2026 | 31st Mar 2026 | 31st Dec 2025 |
| E-HCV Sales | Nos | 58 | 152 | 55 |
| E-HCV Lease | Nos | 29 | 10 | 10 |
| Charging Network Sales | in mWh | 3,352 | 1,615 | 712 |
| Swap Station locations | Nos | 7 | 2 | 2 |
| Stand-alone chargers | Nos | 7 | 2 | 2 |
Network Performance (Till July 31, 2026):
- Total battery swaps across all stations: 29.5 Thousand
- Total charging sessions across all chargers: 9.6 Thousand
- Total energy dispensed: All stations combined
- Operational battery swapping stations: 7 in India with 1,008 swaps per day
- Target: 40 battery swapping stations to be operational by March 31, 2027
Electric Heavy Vehicle Assembly Plant:
- Capacity: 5,000 units per annum
- Commissioning date: October 2026
- Features: Conveyor assembly line, end of line testing, wheel assembly station
Partnership Update: CATL
- CATL to supply 0.5 GWh (500 MWh) of advanced LFP battery cells & pack kits
- First in India to deploy CATL's new-generation LFP battery platform
- Upgraded CB7T0 cell & L324D06 pack platform with higher energy density and longer cycle life
- Configured into 400.6 kWh systems for EIM's Ashwa 4×2 e-tractors
- EIM will assemble battery pack systems in new battery assembly plant in Talegaon, Pune
Financing Partners:
13 financing partners across banks, NBFCs and leasing companies:
- Banks (Loan to value up to 90%): Yes Bank, Axis Bank, HDFC Bank, Kotak Bank, ICICI Bank, IDFC Bank, Bandhan Bank
- NBFCs (Loan to value up to 85%): Tata Capital, Bajaj Finance, Sundaram Finance
- Leasing Companies (100% financing): Drivn, Stride Green, Vertello
EIM Financial Performance:
| Parameter | Units | 31st June 2026 | 31st Mar 2026 | 31st Dec 2025 |
| E-HCV Sales | In ₹ million | 352.2 | 966.1 | 329.5 |
| E-HCV Lease | In ₹ million | 10.3 | 6.4 | 1.0 |
| Charging Network Sales | In ₹ million | 65.3 | 38.6 | 17.2 |
| Total Revenue | In ₹ million | 427.9 | 1,011.0 | 347.6 |
| PAT / (Loss) | In ₹ million | (211.3) | (89.8) | (45.6) |