Ravindra Energy details renewables and EV growth targets

Ravindra Energy Limited has detailed significant progress in its renewable energy and electric vehicle (EV) businesses. In the renewable energy sector, the company aims for a 1 GW operating portfolio by March 2028, with 158 MWp already operational, 87 MWp under construction, and an additional 258 MWp in development. Revenue from operations is projected to reach Rs 250.4 crore in FY 2025, growing to Rs 800.6 crore by FY 2027, with EBITDA forecast at Rs 42.4 crore in FY 2025, rising to Rs 127.8 crore by FY 2027.

The EV business, operating under Energy//Motion (49.5% held by Ravindra Energy Limited), focuses on heavy commercial electric transport. Key milestones include the homologation of a 55-ton swappable heavy-duty electric tractor and 125 e-Tractors already sold for FY 2026. The company plans to deploy 400-600 tractor units and 8-10 swap stations in FY 2026, scaling up to 1000-1500 tractor units and 20-30 swap stations in FY 2027. A new EV assembly plant in Pune, with a first-phase investment of Rs 100 crore, is slated for a first vehicle rollout by June 2026.

EIM's strategy includes leveraging strong OEM partnerships, establishing accessible swapping and charging stations, facilitating financing solutions, and utilizing 100% renewable energy for EV charging. The company's unit economics for EVs show compelling savings over diesel tractors, with a projected breakeven for excess capex in 48 months.