Delta Autocorp Limited (**Deltic**) is a technology-driven electric vehicle (EV) manufacturer specializing in the **2W and 3W** segments. Established in **2016** and listed on the **NSE SME Platform** in **January 2025**, the company is the first listed Indian peer to offer a dual portfolio of electric two-wheelers and three-wheelers. Deltic targets the "Bharat" market—specifically Tier-II and Tier-III regions—through an integrated model encompassing R&D, manufacturing, and a pioneering aftermarket ecosystem. --- ### **Manufacturing Infrastructure & Operational Footprint** Deltic operates a multi-state manufacturing and corporate infrastructure supported by **ISO 9001:2015, 14001:2015, and 45001:2018** certifications. | Facility | Location | Focus/Status | | :--- | :--- | :--- | | **Unit-I** | Rupnarayanpur, West Bengal | Registered Office & Primary Manufacturing | | **Unit-II** | Bagpat, Uttar Pradesh | Manufacturing & Northern Hub | | **Corporate Office** | Pitampura, Delhi | Strategic, Digital & Design Operations | | **Subsidiary** | Electrofine Motors Pvt Ltd | Wholly Owned Subsidiary (Inc. **April 2025**) | * **Capacity & Compliance:** The company currently operates on a **single-shift plan** with sufficient headroom to meet growth targets. All products are certified by national agencies, including **ICAT, NATRAX, and CIRT**. * **Quality Standards:** Vehicles undergo a **13-tank CED paint process** and utilize **double-bonded chassis** with **4mm thick ABS** body panels for durability in rugged Indian conditions. --- ### **Product Portfolio: Engineering for the "Bharat" Market** Deltic has transitioned its entire lineup to **Lithium Ferro Phosphate (LFP)** battery technology, utilizing **Gotion cells** and **CAN communication protocols** for superior thermal stability and safety compared to NMC alternatives. #### **Electric Three-Wheelers (E3W)** Deltic serves both the **L3** (e-rickshaw) and **L5** (high-speed/high-capacity) categories. * **Deltic Express (L5 Passenger):** A **6-seater** designed to offer **30-35% lower operating costs** than traditional autos, increasing driver earning potential by **50%**. Commercial rollout is slated for **April 2026**. * **Airavat (L5 Loader):** Features a **1274 kg GVW**, **577 kg payload**, and an **8.00 kWh** battery providing a **115 km** range. * **L3 Segment (Star, Vista, Vayu):** Range options from **120 km to 150+ km** per charge, featuring heavy-duty chassis and high-torque motors. * **B2G Specialized Vehicles:** The **Garbo** e-garbage van features auto-hydraulics and a **100 km** range. Deltic recently executed an order for **2,000 units** and a repeat order of **402 units** for the **Assam Government**. #### **Electric Two-Wheelers (E2W)** The portfolio spans from entry-level scooters to high-performance motorcycles. * **Performance Scooters:** Includes the **Infinia**, **Trento Plus** (3000W motor), and **Crossberg** (75+ km real-world range). * **Upcoming "Reed" Scooter:** Positioned as a "Flagship Killer" with a **75 kmph** top speed, **120 km** range, and IoT-enabled app connectivity. * **Superion Motorcycle (Prototype):** Built on a high-tensile **trellis chassis**, targeting a **100 kmph** top speed and **120 km** range. --- ### **The "EV Hub" & Aftermarket Ecosystem** To solve the lack of standardized repair infrastructure in India, Deltic is pioneering the **"EV Hub"** concept. * **Component-Level Repair:** Unlike competitors who replace entire modules, Deltic hubs repair batteries, controllers, and converters for **all EV brands**. * **Micro-Distribution:** Acts as a marketplace for genuine electronic and mechanical spares, significantly reducing **Vehicle Off Road (VOR)** time. * **Skill Development:** Launched initiatives to train dealers and job seekers in "child-part" level repairs to ensure long-term dealer viability. --- ### **Distribution Strategy & Strategic Alliances** Deltic utilizes a **hub-and-spoke model** to reach remote blocks, supported by **150 primary trucks** and **500 secondary vehicles**. * **Network Expansion:** Currently operating **350+ touchpoints** across **25 States/UTs**, with a long-term target of **800 dealers**. * **COCO Strategy:** Transitioning toward **Company-Owned Company-Operated** outlets in high-footfall and religious hubs (e.g., **Ayodhya, Varanasi, Delhi**) to standardize customer experience and gather direct consumer data. * **Rapido Partnership:** An exclusive collaboration where Deltic buyers can register as "Captains" with **zero fees**. This provides immediate revenue for the buyer, making retail financing more accessible to lenders. * **Digitalization:** Implementation of a global **CRM and sales automation platform** for real-time lead tracking and dealer forecasting. --- ### **Financial Performance & Capital Structure** The company demonstrated resilience in **FY25**, maintaining stable margins despite an industry-wide slowdown in the E2W segment. | Metric | Value / Status | | :--- | :--- | | **Total EVs Sold (FY25)** | **13,006 Units** | | **Cumulative Sales (to Oct 2024)** | **37,000+ Units** | | **Revenue (H1 FY26)** | **₹42.13 Crore** | | **PAT (H1 FY26)** | **₹3.46 Crore** | | **Sales CAGR (FY21-25)** | **49.47%** | | **EBITDA Margin (FY25)** | **14.06%** | * **Capital Expansion:** In **July 2024**, the company issued bonus shares in an **8:1 ratio**. Following the **January 2025 IPO**, the paid-up equity capital stands at **₹15.29 Crore**. * **Financial Independence:** Growth initiatives have been funded primarily through **internal accruals**, maintaining a healthy balance sheet without heavy external debt. --- ### **Sustainability & ESG Roadmap** Deltic has committed to a structural ESG framework with specific milestones: * **2030 Targets:** Achieve **Carbon Neutrality** across operations and transition all manufacturing plants to **renewable energy**. * **Circular Economy:** Developing in-house capabilities for **battery recycling** and second-life energy storage applications. * **Waste Management:** Aiming for **Zero-Waste-to-Landfill** status by repurposing manufacturing by-products. --- ### **Risk Management & Contingencies** Deltic manages regulatory and operational risks through a newly implemented **24-hour intra-department escalation policy** for statutory notices. * **Customs Dispute:** A pending adjudication regarding a **₹76.91 Lakh** duty notice (plus interest) related to motor and controller imports between 2021-2022. Management is actively contesting the interpretation of exemption notifications. * **Related Party Transactions:** Shareholder approval is sought for transactions with **Antler Akash EV Private Limited**, capped at the lower of **₹50 crore** or **10% of turnover** per SEBI SME regulations. * **Litigation:** Successfully concluded a consumer case (*Shakeel Ahmeed*) in **March 2026** with a minimal settlement of **₹10,000**, significantly lower than the original claim. * **Forex Risk:** The company remains exposed to currency fluctuations due to the import of raw materials and electronic components.