Synopsis: India’s EV sector witnessed another year of growth in Q4 FY26, supported by rising adoption, policy support, and infrastructure expansion. Investors closely tracked EV-linked stocks amid evolving industry developments.
India’s electric vehicle (EV) industry continues to gain momentum, supported by favourable government policies, expanding charging infrastructure, and growing consumer acceptance. EV penetration is steadily increasing across vehicle categories, while investments in battery manufacturing and clean mobility solutions are accelerating.
Industry estimates suggest the Indian EV market could grow at over 40% CAGR through 2030, with electrification expected to play a key role in the country’s transition towards sustainable transportation. Amidst this growth, a few stocks are listed below that have delivered robust results during FY26.
Olectra Greentech Ltd
Olectra Greentech Limited is a leading manufacturer of electric buses in India and operates in the clean mobility and composite products segments. The company supplies electric buses to state transport undertakings and other fleet operators across the country. It is also involved in the production of fibre-reinforced polymer composite products.
With the market capitalization of Rs. 10,465 Crores, the shares of Olectra Greentech Ltd were trading at around Rs. 1275 per share which is 25 percent discount from its 52 week high of Rs. 1,714 per share and is trading at a P/E of 59 whereas industry P/E stands at 30
Revenue from operations has increased from Rs. 449 Crores in Q4 FY25 to Rs. 645 Crores in Q4 FY26, up 43 percent. Operating profit has increased from Rs. 54 Crores to Rs. 100 Crores, up 85 percent and net profit has increased from Rs. 21 Crores to Rs. 57 Crores, up 171 percent.
JBM Auto Ltd
JBM Auto Limited is a diversified automotive and mobility company with a growing presence in the electric vehicle segment. Through its mobility business, the company manufactures electric buses and provides integrated public transportation solutions. It also supplies auto components and systems to leading automobile manufacturers in India and overseas.
With the market capitalization of Rs. 16,193 Crores, the shares of JBM Auto Ltd were trading at around Rs. 685 per share which is 13 percent discount from its 52 week high of Rs. 790 per share and is trading at a P/E of 72.1 whereas industry P/E stands at 28.2
Revenue from operations has increased from Rs. 1646 Crores in Q4 FY25 to Rs. 1852 Crores in Q4 FY26, up 12.5 percent. Operating profit has increased from Rs. 185 Crores to Rs. 229 Crores, up 23 percent and net profit has increased from Rs. 72 Crores to Rs. 84 Crores, up 17 percent.
Exide Industries Ltd
Exide Industries Limited is one of India’s leading battery manufacturers, serving automotive, industrial, and energy storage markets. The company has a strong presence across the lead-acid battery segment and is expanding into lithium-ion cell and battery manufacturing. It plays an important role in supporting India’s growing electric mobility and energy transition ecosystem.
With the market capitalization of Rs. 33,018 Crores the shares of Exide Industries Ltd were trading at around Rs. 388 per share which is 10 percent discount from its 52 week high of Rs. 431 per share and is trading at a P/E of 38.5 whereas industry P/E stands at 28.2
Revenue from operations has increased from Rs. 4335 Crores in Q4 FY25 to Rs. 4735 Crores in Q4 FY26, up 9 percent. Operating profit has increased from Rs. 428 Crores to Rs. 488 Crores, up 14 percent and net profit has increased from Rs. 188 Crores to Rs. 217 Crores, up 15 percent.
Servotech Renewable Power System Ltd
Servotech Renewable Power System is an Indian clean energy company focused on EV charging infrastructure, solar energy solutions, and power backup products. The company manufactures AC and DC EV chargers, solar products, and energy storage solutions, catering to both residential and commercial customers. With India’s growing electric mobility ecosystem, Servotech has emerged as a key player in the EV charging and renewable energy segments.
With the market capitalization of Rs. 2355 Crores the shares of Servotech Renewable Power System Ltd were trading at around Rs. 104 per share which is 32 percent discount from its 52 week high of Rs. 154 per share and is trading at a P/E of 65 whereas industry P/E stands at 29.2
Revenue from operations has increased from Rs. 146 Crores in Q4 FY25 to Rs. 217 Crores in Q4 FY26, up 48 percent. Operating profit has increased from Rs. 12 Crores to Rs. 23 Crores, up 92 percent and net profit has increased from Rs. 8 Crores to Rs. 11 Crores, up 37.5 percent
Atul Auto Ltd
Atul Auto Limited is an Indian three-wheeler manufacturer based in Gujarat, producing passenger and cargo vehicles along with e-rickshaws. The company operates across diesel, CNG, petrol, and electric segments, focusing on last-mile mobility. It is steadily expanding its EV portfolio to capture growing demand in electric three-wheeler transport.
With the market capitalization of Rs. 1282 Crores, the shares of Atul Auto Ltd were trading at around Rs. 462 per share which is 16 percent discount from its 52 week high of Rs. 554 per share and is trading at a P/E of 29.7 whereas industry P/E stands at 33.1
Revenue from operations has increased from Rs. 211 Crores in Q4 FY25 to Rs. 241 Crores in Q4 FY26, up 14 percent. Operating profit has increased from Rs. 15 Crores to Rs. 27 Crores, up 80 percent and net profit has increased from Rs. 6 Crores to Rs. 18 Crores, up 200 percent.
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