Tesla India revenue surged nearly 12-fold to Rs 247.31 crore in FY26, marking the electric carmaker’s first financial year of vehicle sales in the country. The Indian entity of Elon Musk-owned Tesla also reported a net profit of Rs 5.16 crore, up from Rs 55.49 lakh in FY25.
The results reflect the company’s transition from service-based operations to vehicle sales. Tesla India Motors and Energy began selling its Model Y after opening its first showroom in Mumbai in July 2025. Vehicle sales accounted for nearly 87% of its total revenue in FY26.
According to the company’s regulatory filings, revenue from operations increased from Rs 20.83 crore in FY25. The previous year’s turnover came entirely from services, making FY26 the first year in which vehicle sales contributed to its reported revenue.
Key Highlights
- Tesla India revenue reached Rs 247.31 crore in FY26, up nearly 12-fold year over year.
- Vehicle sales contributed Rs 214.69 crore, accounting for nearly 87% of revenue.
- Registrations rose to 650 vehicles in April–September FY27, exceeding the previous financial year’s tally.
Vehicle Sales Drive Tesla India Revenue Growth
Tesla’s vehicle sales generated Rs 214.69 crore in FY26, while services contributed Rs 32.40 crore. The company’s financial growth coincided with an increase in vehicle registrations, although volumes remain relatively small.
Tesla recorded 346 vehicle registrations between September 2025 and March 2026, according to Vahan data. Registrations increased to 650 between April and September FY27, surpassing the previous financial year’s total within six months.
Average monthly registrations rose from around 49 to 108 during the respective periods. The increase indicates improving sales momentum following the initial launch phase.
Tesla also invested in expanding its Indian operations. Its filings show a capital infusion of approximately Rs 86 crore during FY26. Tesla International BV contributed Rs 85.91 crore, while Tesla Motors Netherlands B.V. contributed the remaining Rs 8.6 lakh.
Cash expenditure on property, plant and equipment and capital work-in-progress increased to Rs 62.54 crore from Rs 1.16 crore in FY25. Cash and cash equivalents stood at Rs 87.82 crore at the end of March, compared with Rs 10.28 crore a year earlier.
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Tesla Expands Its Model Y Lineup in India
Business expansion also increased operating costs. Employee benefit expenses more than tripled to Rs 43.67 crore from Rs 13.46 crore, including Rs 11.99 crore in share-based compensation. Rent expenses climbed to Rs 30.32 crore from Rs 2.64 crore, while advertising and promotional spending reached Rs 2.16 crore. Total expenses stood at Rs 240 crore.
Tesla currently offers the Model Y and Model Y L in India. The five-seat Model Y features rear-wheel drive, a claimed range of up to 500 km, and a starting ex-showroom price of Rs 50.89 lakh. The Model Y L comes with all-wheel drive and a three-row, six-seat configuration. It offers a claimed range of up to 681 km and starts at Rs 61.99 lakh, ex-showroom.
Tesla has experience centers in Delhi, Noida, Gurugram, Mumbai, Chennai, Bengaluru, and Hyderabad. It also operates Tesla-approved body shops in Pune and Ahmedabad.
With rising registrations and continued investment, Tesla India is building its presence in the country’s electric vehicle market. Its ability to sustain sales growth while managing operating costs will be important as it expands its business.
