Jindal Worldwide rolls into EV with scooter R40, targets ₹350 cr revenue by FY28
The textile maker's subsidiary Jindal Mobilitric to start commercial production this month. Installed capacity of 250,000 units a year, order book of 1,000 units, and a plan to expand from 35 to 100 dealerships in a year.
— 3 earlier stories on Jindal Worldwide Ltd. →What's new
- Jindal Mobilitric to begin commercial production of R40 electric scooter this month.
- Installed capacity of 250,000 units per year for assembly and battery at Ahmedabad plant.
- Company projects ₹100 cr revenue in FY27, ₹350 cr in FY28; order book at 1,000 units.
Why this matters
A textile maker with a market cap of ₹3,078 cr is pivoting into the EV two-wheeler space with concrete revenue targets. The playbook is blue-sky, but the capacity and dealer expansion plan give it more substance than a typical intent announcement.
What we're watching
- Homologation clearance – dispatches hinge on final regulatory approvals.
- Dealership ramp from 35 to 100 in a year – execution is the real test.
- Revenue trajectory: ₹100 cr in FY27 to ₹350 cr in FY28 implies steep scaling.
The full read
Jindal Worldwide is no longer just a textile play. Its subsidiary Jindal Mobilitric starts commercial production of the R40 electric scooter this month, backed by an integrated 250,000-unit annual capacity plant in Ahmedabad. The company projects ₹100 crore in revenue for FY27 and ₹350 crore in FY28 — ambitious numbers for a company whose latest quarterly sales stood at ₹640 crore. The order book of 1,000 units and a plan to expand from 35 to 100 dealerships give the blueprint some heft. But the R40 still needs regulatory clearance, and the fast-growing EV two-wheeler market is crowded. For a company trading at 44x earnings with 9.6% ROE, this is a high-stakes diversification. The ambition is clear; the execution is what matters.
Questions answered
- What is Jindal Worldwide's electric vehicle strategy?
- Through subsidiary Jindal Mobilitric, the company is entering the EV two-wheeler market with the R40 scooter, backed by a 250,000-unit annual capacity plant in Ahmedabad and a plan to expand from 35 to 100 dealerships within a year.
- What are the revenue projections for the EV business?
- Jindal Worldwide projects ₹100 crore in revenue for FY27 and ₹350 crore for FY28 from the electric scooter business, based on current order book of 1,000 units and expected scale-up.
- When will the R40 scooter be available?
- Commercial production begins this month, but dispatches are subject to final regulatory approvals as the scooter is undergoing homolagation. The claimed range is 165 km per charge.
- How does this fit with Jindal Worldwide's core textile business?
- The EV entry is a strategic diversification. Jindal Worldwide's latest quarterly sales were ₹640 crore (Mar 2026). The EV target of ₹350 crore by FY28 would be a substantial addition, but the company has a high P/E of 44 and modest recent growth.
- What is the scale of the investment?
- The filing does not disclose the total investment, but the installed capacity of 250,000 units per year and integrated battery manufacturing at the Ahmedabad plant represent a significant capital outlay for a textile company.
- What risks should investors watch?
- Execution risk is high: homologation is pending, the order book is just 1,000 units, and scaling from 35 to 100 dealerships requires strong operational capability. Also, the EV two-wheeler market is competitive with established players.
Jindal Worldwide Ltd.
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All notes on JINDWORLD →- 17 Jul 2026 · 4:35 PM IST Jindal Worldwide rolls into EV with scooter R40, targets ₹350 cr revenue by FY28
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