NEW DELHI — Tesla’s Indian subsidiary reported revenue of Rs 247.31 crore and a net profit of Rs 5.16 crore for fiscal 2026, marking a significant increase in business activity during its first year of vehicle sales in the country.
According to regulatory filings, Tesla India Motors and Energy recorded nearly a twelvefold increase in revenue from operations, compared with Rs 20.83 crore in fiscal 2025.
Net profit also rose sharply from Rs 55.49 lakh in the previous financial year as the electric vehicle manufacturer expanded its operations following the opening of its first Indian showroom in Mumbai in 2025.
Fiscal 2026 marked the first year in which vehicle sales contributed to Tesla India’s revenue. During the preceding financial year, the subsidiary’s turnover had come entirely from service-related activities.
Vehicle sales generated Rs 214.69 crore during fiscal 2026, accounting for nearly 87% of total revenue. Services contributed another Rs 32.40 crore.
The financial performance came despite Tesla’s relatively limited sales volumes in India, where the company is still establishing its presence in the passenger vehicle market.
Tesla recorded 346 vehicle registrations between September 2025 and March 2026, reflecting the initial phase of its commercial operations.
However, registrations accelerated during the first half of fiscal 2027, reaching 650 vehicles between April and September 2026.
The six-month figure exceeded the company’s entire registration total for the preceding fiscal year, suggesting growing demand as Tesla expands its presence in India.
Average monthly registrations increased from approximately 49 vehicles during the initial launch period to about 108 vehicles in the April-September period.
Tesla also strengthened its Indian subsidiary’s financial position through additional capital investment.
Regulatory filings showed that the company injected approximately Rs 86 crore into its Indian operations during fiscal 2026.
Spending on property, plant and equipment, along with capital work in progress, increased substantially to Rs 62.54 crore, compared with just Rs 1.16 crore in the previous financial year.
The increase reflects Tesla’s growing investment in infrastructure and business operations as it establishes a foothold in the Indian market.
The company’s expansion in India comes as Tesla continues developing new electric vehicle technologies and products globally.
Earlier in October, CEO Elon Musk demonstrated an updated prototype of the company’s long-awaited Roadster sports car at a SpaceX facility in Texas.
During the demonstration, the prototype reportedly traveled along an elevated curved track before briefly becoming airborne and landing, prompting comparisons to a flying car concept.
Tesla India’s latest financial results indicate that vehicle sales have quickly become the primary source of revenue for its local subsidiary, while rising registrations and additional capital investment point to the company’s continuing efforts to expand in the Indian electric vehicle market. (Source: IANS)
