BikeWo targets 10,000-vehicle fleet in FY27
Hyderabad, Sept 22 (TNT): BikeWo Green Tech Ltd (NSE: BIKEWO) on Tuesday said it is targeting an operating fleet of around 10,000 vehicles during 2026-27, supported by a preferential issue through warrants worth more than Rs 76 crore.
In a release, the Hyderabad-based company said the expansion marks a shift from electric vehicle sales and distribution towards EV asset ownership and leasing, fleet deployment, specialised mobility applications, operating partnerships, lifecycle support and technology-enabled logistics.
As part of the expansion, termed “BikeWo Ascend”, the company has entered into an engagement with Reliance Industries Ltd’s Bio Energy Division for hiring and deployment of specialised electric tractors.
The contracts have an estimated aggregate value of around Rs 66.46 crore and are valid until July 2033, the company said.
The tractors will be equipped with specialised loader, catcher and grabber applications and will be deployed along with driver and vehicle-operation services.
The company said the deployment would extend electric mobility into bio-energy and biomass-handling operations.
BikeWo’s expansion plans cover last-mile, mid-mile and long-distance transportation, enterprise mobility, specialised fleet applications and related mobility infrastructure.
BikeWo has appointed Sumanth Badiga to its Advisory Board. He has more than three decades of experience in the automotive and transportation sectors.
BikeWo CEO Hiten Pal Saklani said the company was seeking to build a larger business around electric mobility by expanding into infrastructure, operations and technology supporting vehicle deployment.
BikeWo, incorporated in Telangana in 2016, began as a multi-brand electric two-wheeler retailer and entered fleet operations in 2025. It was listed on NSE Emerge in September 2024 after raising Rs 24.09 crore.
For the financial year ended March 2026, the company reported consolidated revenue of Rs 54.49 crore, up 132 per cent, while net profit stood at Rs 4.50 crore against Rs 0.88 crore in the previous year.
The company said the approximately Rs 66.46 crore contract value is indicative and estimated, with actual revenue depending on services deployed and executed under the contractual terms.
The 10,000-vehicle figure is a management target for FY 2026-27, while the preferential warrant issue is subject to subscription, exercise and applicable terms.
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