EKA targets ₹2,000 crore capex for electric mobility expansion
after close1 source ↓machine-written, see hownot a recommendation
- M&M close
- ₹2,890
- On the day
- +0.70%
- Futures OI, short covering
- -2.1%
- Put-call ratio
- 0.82
- Max pain
- ₹2,900
EKA Mobility plans ₹2,000 crore of capital expenditure over three years to expand manufacturing across electric buses, heavy trucks and six-seater vehicles. The company’s disclosed order book stands at 11,000 buses valued at nearly $2 billion, including servicing, giving the planned capacity expansion a sizeable revenue base. Chairman Sudhir Mehta said EKA and Pinnacle Industries are targeting combined FY27 revenue of ₹2,800 crore.
Key Points:
• Pinnacle Industries expects around ₹800 crore of revenue this year from automotive seating systems, bus interiors, specialty vehicles and components supplied to vehicle manufacturers.
• The expansion broadens EKA’s focus beyond electric buses into electric freight and affordable rural transport, linking the investment to commercial-vehicle electrification and demand for lower-cost mobility. Electric buses remain the immediate anchor, while trucks and six-seaters represent new product and market segments ⚡.
• The bus order book includes servicing, so execution, deliveries and after-sales revenue will be important in assessing how much of the nearly $2 billion value converts into reported revenue.
For the wider automobile and auto-component sectors, the plan supports demand for battery-electric drivetrains, vehicle interiors, seating systems and specialty-vehicle components. It also gives suppliers such as Pinnacle a direct link to the expansion of electric public transport and commercial vehicles. The scale of the capex, however, makes commissioning timelines, funding and utilisation key factors for the earnings profile.
OI Charts data for listed auto comparables showed mixed recent momentum. One large-cap auto stock closed at ₹2,890 on 29 Oct 2026, up 0.7%, while its five-session move was down 0.6%; futures open interest fell 2.1%, indicating short covering. Another auto stock closed at ₹405.85 on 23 Oct 2025, up 1.0%, after gaining 3.8% over five sessions. These readings provide broader sector context rather than a direct market reaction to EKA’s announcement.
The next trading focus is on further details of the ₹2,000 crore investment, plant commissioning milestones, bus deliveries, truck and six-seater launches, and evidence that the order book is converting into revenue. The company’s FY27 revenue update will be the clearest test of the stated growth trajectory 🚚.
Source: BusinessLine, 30 Oct 2026
Not investment advice. For informational purposes only.