Relux Electric Revenue Soars 110%, Eyes Aggressive Pan-India Expansion

CHENNAI, India – April 09, 2026 – Electric vehicle (EV) infrastructure provider Relux Electric has announced a landmark fiscal year, reporting a 110% surge in revenue to ₹22.5 crore for FY26, up from ₹10.7 crore in the previous year. The company, a key player in India's burgeoning e-mobility sector, has set an ambitious target to more than double its revenue again, aiming for a ₹50 crore milestone in the current fiscal year, FY27.

This financial upswing marks the third consecutive year of strong growth, positive EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), and positive Profit After Tax (PAT) for the Chennai-based firm. This consistent profitability is a notable achievement in the capital-intensive EV charging industry, signaling robust operational discipline and increasing market adoption of its services.

Charting an Aggressive Growth Trajectory

Relux Electric's impressive financial performance comes as India's EV charging market is poised for explosive growth. Industry reports project the market to expand from approximately USD 1.2 billion in 2024 to over USD 10.6 billion by 2032, fueled by government incentives like the FAME (Faster Adoption and Manufacturing of Electric Vehicles) scheme and a national goal of 30% EV penetration by 2030. Within this competitive landscape, which includes major players like Tata Power EZ Charge, ChargeZone, and Statiq, Relux Electric is carving out a significant position through a diversified strategy.

"We remain focused on sustainable growth, building a future-ready EV ecosystem anchored in operational discipline and profitability," said Karthikeyan S., Managing Director of Relux Electric Private Limited, in a statement. "Our multi-channel strategy across public charging, enterprise, EPC, and technology-driven segments will drive balanced and diversified growth."

The company's strategy is not just about expanding its footprint but also about strategic asset ownership. "This year we plan to invest in highway land parcels across major highways to setup our own landmark hubs," Karthikeyan added, signaling a move towards creating comprehensive, company-owned charging destinations along critical transport corridors.

Powering a Nationwide Network

A cornerstone of Relux Electric's expansion is its strategic partnerships and targeted geographic growth. The company has embarked on a major collaboration with the Tamil Nadu Green Energy Corporation Limited (TNGECL) to deploy 500 EV charging stations across the state, bolstering Tamil Nadu's ambition to become a premier EV hub.

Beyond its home state, the company is making significant inroads into northern India. It plans a 300% increase in its charging station count in Punjab and Rajasthan, aiming to scale from the current 25 stations to 100 in the near future. This expansion is backed by substantial capital, including a previously secured ₹2.5 billion (approximately $29.93 million) in project financing designated for developing its hyper-charging network, particularly on highways in South India. Advanced discussions are also underway with several other state governments, indicating a clear intent to establish a truly nationwide charging ecosystem.

This physical expansion is complemented by a forward-looking technological approach. The new charging hubs are being designed to support a wide range of vehicles, with charging capacities spanning from 120 kW for passenger cars to a powerful 1 MW for commercial EVs, accommodating both intra-city commuters and long-distance logistics.

Building a Sustainable and Resilient Grid

Relux Electric is positioning itself not merely as an infrastructure provider but as a champion of sustainable energy. The company has announced a goal to achieve net-zero status within the current fiscal year, a commitment that is embedded in its technological infrastructure. New charging stations are being developed with an integrated model that incorporates renewable energy sources, such as solar power, and battery storage systems.

This model serves a dual purpose: it reduces the carbon footprint of charging and lessens the strain on traditional power grids, a critical consideration as EV adoption accelerates. By generating and storing its own clean energy, Relux can offer more reliable and sustainable service, insulating its operations from grid fluctuations and contributing directly to India's green energy targets. This forward-thinking design ensures that the growth of electric mobility does not inadvertently lead to an over-reliance on fossil-fuel-generated electricity, aligning the transport transition with broader climate goals.

Empowering Local Entrepreneurs in the EV Revolution

Perhaps one of the most distinctive elements of Relux Electric's strategy is its entrepreneurial business model, designed to democratize participation in the EV economy. The company offers a program for individuals to start their own charging stations, backed by what it terms a "100% investment guarantee." While the specific terms of this guarantee are not publicly detailed, the model aims to de-risk the investment for local entrepreneurs and accelerate the grassroots build-out of charging infrastructure.

This approach has the potential to create a powerful network effect, fostering local economic growth and creating jobs in installation, maintenance, and operations across the country. By empowering small business owners and individuals to become stakeholders in the e-mobility transition, Relux is building a distributed and community-integrated network. This strategy could prove vital in reaching underserved areas and ensuring that the benefits of the EV revolution are shared more broadly. This multi-pronged strategy positions Relux Electric not just as an infrastructure provider, but as a key architect of India's broader transition to sustainable transportation.