Tesla India Motors and Energy Private Limited delivered strong financial results in its first full year of vehicle sales operations. According to reports from Moneycontrol, the company reported revenue of ₹247.31 crore and a net profit of ₹5.16 crore in FY26, marking a significant milestone for the Elon Musk-owned automaker's domestic operations. Revenue from operations rose nearly 12-fold from ₹20.83 crore in FY25, while net profit increased substantially from ₹55.49 lakh in the previous financial year. At the European Central Bank's reference rate of 23 October, this translates to approximately €23.3 million of revenue and €490,000 of profit, representing a net margin of roughly 2%. The financial performance came alongside a small initial sales base, demonstrating the company's ability to achieve profitability despite modest volumes.
Vehicle sales emerged as the primary revenue driver in FY26, generating ₹214.69 crore and accounting for nearly 87% of total revenue. As reported by Moneycontrol, services contributed ₹32.40 crore to the company's turnover. This represents a significant shift from FY25, when the company's entire revenue came from services, making FY26 the first year vehicle sales contributed to reported turnover. Tesla began selling its Model Y in India after opening its first showroom in Mumbai in July 2025. Vehicle revenue comes to approximately ₹62 lakh per car, close to the Model Y list prices of the time, although registrations and invoices need not match exactly. The company's vehicle sales generated ₹214.69 crore, with services contributing the remaining ₹32.40 crore to the total turnover.
Tesla's market presence showed remarkable growth in vehicle registrations during FY27. According to Vahan data reported by Moneycontrol, the company recorded 346 vehicle registrations between September 2025 and March 2026, with registrations rising to 650 between April and September FY27. Average monthly registrations increased from around 49 to 108, indicating higher volumes following the initial launch period, although the increase was from a small base. The company's Indian subsidiary made money in its first year of selling cars, though not much, demonstrating the early success of its domestic operations. Registrations reached 650 vehicles in the first six months of FY27, exceeding the previous financial year's tally within six months, showing accelerated growth momentum.
Tesla made substantial investments in its Indian operations during FY26, infusing ₹86 crore into its Indian entity. As reported by Moneycontrol, Tesla International BV contributed ₹85.91 crore, while Tesla Motors Netherlands B.V. contributed the remaining ₹8.6 lakh. Cash expenditure on property, plant and equipment and capital work-in-progress increased significantly to ₹62.54 crore in FY26 from ₹1.16 crore a year earlier, reflecting the company's infrastructure expansion efforts. Employee costs rose to ₹43.67 crore from ₹13.46 crore, while rent expenses increased to ₹30.32 crore from ₹2.64 crore, indicating the company's growing operational footprint.
The company's financial position strengthened with cash and cash equivalents standing at ₹87.82 crore at the end of March 2026, compared with ₹10.28 crore a year earlier, according to Moneycontrol reports. Vehicle deliveries have surged following the opening of the automaker's flagship Mumbai showroom, driving substantial capital investments in local infrastructure. Monthly registration volumes continue to climb rapidly as operations expand, positioning Tesla for further growth in the Indian market. The company's first year of car sales operations in India has been successful, with the subsidiary achieving profitability despite modest margins, indicating strong operational efficiency and market potential.
