Tunwal E-Motors share price & results
- Mar 2026
- Jun 2026
Rajasthan/Pune-based manufacturer of electric two-wheelers (e-scooters/e-bikes) for students, gig and delivery riders and urban commuters, sold through a pan-India dealer and distributor network.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 132 | +26.9% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 6.0 | +1.7 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 4.0 | −33.3% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
| Return on equity | +1.9 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | -1.97 | +36.8 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Price
Performance −25.1% 1Y
1Y: ₹31.7 on 24 Oct 2025 → ₹23.75. High ₹45.6 (2 Dec 2025), low ₹22.85 (23 Oct 2026).
- Previous close
- ₹22.9
- Market cap
- ₹151 Cr
- 52-week range
- ₹22.85 – ₹45.6
- One year
- −25.08%
- Price to earnings (FY ending Mar 2026)
- 12.21×
- Return on equity (FY ending Mar 2026)
- 10.85%
Overview
- Symbol
- NSE:TUNWAL
- Industry
- Consumer Discretionary
- Exchange
- NSE
- Currency
- INR
What Tunwal E-Motors Ltd does
Based on the company's own presentations, annual report and earnings calls.
Tunwal E-Motors designs, manufactures and distributes a portfolio of electric two-wheelers built on lead-acid and lithium-ion battery packs with BLDC hub motors. The company traces its engineering roots to Tunwal Electronics (founded in Gandhinagar, Gujarat) and was incorporated in 2018, since when it has built manufacturing capacity in Rajasthan and a dedicated warehouse in Pune. It sells through an expanding dealer and distributor network and in FY25 acquired a wholly owned subsidiary, Palsana EV Industries India Private Limited, to add further manufacturing capacity.
Segments
- Electric two-wheelers
- Manufacturing plants
- 1 fully operational unit (Palsana, Rajasthan); 2 further factories under progress
- Dealer & distributor presence
- 20+ Indian states
- Product portfolio
- 11 electric two-wheeler models
- Warehouse facilities
- 1 dedicated warehouse (Pune)
- Manufacturing subsidiary
- Palsana EV Industries India Pvt Ltd (wholly owned, Rajasthan; operations under development)
- Battery options across range
- Lead-acid (28Ah/32Ah/43Ah) and Lithium-ion (30Ah)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 2 fiscal years held (Mar 2025 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −33% (quarter to mar 2026 against mar 2025).
| Line item | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 74 | 104 | 144 | 132 |
| Expenses | 67 | 100 | 132 | 124 |
| Operating profit | 8 | 4 | 12 | 8 |
| Operating margin | 11.0% | 4.3% | 8.0% | 6.0% |
| Other income | 1 | 5 | 1 | 1 |
| Interest | 1 | 1 | 1 | 1 |
| Depreciation | 1 | 0 | 1 | 2 |
| Profit before tax | 7 | 8 | 11 | 6 |
| Tax rate | 25.0% | 20.0% | 25.0% | 25.0% |
| Net profit | 5 | 6 | 9 | 4 |
| EPS (₹ per share) | 0.98 | 1.16 | 1.48 | 0.74 |
| Line item | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|
| Equity capital | 11 | 12 | 12 |
| Reserves | 91 | 111 | 114 |
| Borrowings | 33 | 33 | 27 |
| Other liabilities | 59 | 110 | 65 |
| Total liabilities | 194 | 265 | 218 |
| Fixed assets | 26 | 28 | 29 |
| Capital work in progress | 4 | 5 | 12 |
| Investments | 0 | 1 | 0 |
| Other assets | 165 | 231 | 176 |
| Total assets | 194 | 265 | 218 |
| Line item | Mar 2025 | Mar 2026 |
|---|---|---|
| Cash from operations | -53 | 9 |
| Cash from investing | -16 | -15 |
| Cash from financing | 77 | 3 |
| Net cash flow | 8 | -4 |
| Free cash flow | -69 | -5 |
| Line item | Mar 2025 | Mar 2026 |
|---|---|---|
| Debtor days | 45 | 18 |
| Inventory days | 247 | 176 |
| Days payable | 120 | 79 |
| Cash conversion cycle | 172 | 116 |
| Working capital days | 145 | 117 |
| Return on capital employed | — | 13.0% |
| Dividend payout | 5.0% | 4.0% |
What the price assumes
- Growth the price implies
- -5.0% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
Ownership
Who owns it
Promoters hold 63.90% as of Jun 2026; institutions cut 0.30 pts since Mar 2026.
- Promoters 63.90%
- Foreign institutions 0.00%
- Domestic institutions 0.60%
- Public 35.51%
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- newly disclosed 1.20% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Tunwal E-Motors Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| 61.43% | unchanged | |
| 2.12% | unchanged | |
| 1.20% | newly disclosed | |
| 0.35% | unchanged | |
| — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Your own record
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