Key Highlights

  • 12-fold revenue growth: Tesla India Motors and Energy reported FY26 revenue of Rs 247.31 crore, up from Rs 20.83 crore in FY25.
  • Profit surge: Net profit rose to Rs 5.16 crore from Rs 55.49 lakh a year earlier.
  • Cars now drive the business: Vehicle sales contributed Rs 214.69 crore, nearly 87 per cent of revenue; services added Rs 32.40 crore.
  • Sales momentum: Registrations hit 650 units in April-September FY27, already beating the 346 units recorded between September 2025 and March 2026.
  • Fresh investment: Tesla infused about Rs 86 crore into its Indian arm, while capex rose to Rs 62.54 crore from Rs 1.16 crore.

Tesla’s first full year of selling cars in India has delivered a striking set of numbers. According to a regulatory filing, Tesla India Motors and Energy, the Indian unit of Elon Musk’s electric vehicle company, reported revenue of Rs 247.31 crore and a net profit of Rs 5.16 crore for FY26.

Revenue from operations jumped nearly 12-fold from Rs 20.83 crore in FY25, while net profit climbed from Rs 55.49 lakh. The leap is explained by a fundamental shift in the business. In FY25, the company’s turnover came entirely from services-related operations. FY26 was the first year in which vehicle sales contributed to reported revenue, following the opening of Tesla’s first Indian showroom in Mumbai in 2025.

Vehicle sales brought in Rs 214.69 crore, accounting for nearly 87 per cent of total revenue, while services contributed Rs 32.40 crore.

Small Base, But the Trend Line Matters

On their own, the volumes remain modest by Indian auto standards. Tesla recorded 346 vehicle registrations between September 2025 and March 2026. For a market where mass-segment carmakers sell lakhs of units a year, that is a niche figure.

The more meaningful signal lies in the momentum. Registrations rose to 650 units during April-September FY27, surpassing the entire previous year’s tally in just six months. Average monthly registrations have more than doubled, from around 49 units during the initial launch phase to about 108 units.

This growth is notable because Tesla currently sells imported cars in India, which places them firmly in the premium price bracket. That it is still finding steady demand suggests a growing pool of affluent buyers willing to pay for the brand, its technology and its charging ecosystem. It also offers a useful data point for the wider premium EV segment, where established luxury players have been competing for the same customers.

Investing for the Long Haul

The filings also show Tesla is putting more money behind its India bet. The parent company injected about Rs 86 crore into its Indian subsidiary during FY26. Cash spending on property, plant and equipment and capital work-in-progress rose sharply to Rs 62.54 crore from just Rs 1.16 crore a year earlier, pointing to investment in showrooms, service infrastructure and charging support as the brand expands its footprint.

For Indian EV watchers, the key question is whether this steady climb can evolve into a larger strategy, including more models, deeper city coverage or eventually local manufacturing, which would be essential to bring prices within reach of a broader audience.

Globally, Tesla continues to generate headlines beyond its sales figures. Earlier in October, Musk showcased a new version of the Roadster sports car, a prototype that briefly lifted off the ground during a demonstration at a SpaceX facility in Texas. He said the vehicle navigated an elevated curved track before becoming airborne for a short distance and landing safely, sparking comparisons with the idea of a flying car.

For now, though, Tesla India’s story is far more grounded: a profitable first year of car sales, a sales curve that is clearly rising, and fresh capital that signals the company sees India as a market worth building for.