Newsletter
Turns out Roadster isn’t the only thing by Tesla that’s soaring.
Tesla India’s revenue jumped more than 11 times to ₹247.3 crore in FY26, its first year of selling cars in the country. In FY25, its ₹20.8 crore revenue came entirely from services.
The jump followed Tesla’s Model Y launch in India in July 2025, alongside the opening of its first showroom in Mumbai.
How much did it sell: Tesla registered 346 cars in India between September 2025 and March 2026. In the next six months, from April to September 2026, it registered 650 cars, nearly double its earlier tally.
Making sense of the numbers:
- operating profit nearly quintupled to ₹13.7 crore,
- net profit rose from ₹60 lakh to ₹5.2 crore.
- operating margin fell from 13.7% to 5.5%, meaning it kept less operating profit from every rupee earned.
- expenses surged to ₹240 crore, including ₹143.4 crore spent on goods and ₹43.7 crore on employees.
- gross margin also fell from 100% to 42%, as the business shifted from services to selling cars.
- total assets more than quadrupled to ₹293.5 crore,
- while cash rose to ₹87.8 crore.
Tesla India also had no borrowings in either year.
Why India matters: the country’s EV market is growing fast, with 26.6 lakh electric vehicles sold in FY26, nearly 30% more than the previous year. Government incentives, lower running costs and a growing charging network are helping drive adoption. The PM E-DRIVE scheme has also allocated ₹2,000 crore towards public EV charging infrastructure.
India’s EV market is projected to grow around a whopping 5,048%, from $3.71 billion in 2025 to $191 billion by 2034, making it a very opportune time for Tesla to cement its presence.
IBEF
