Delta AutocorpShare price, financial results, shareholding and management
- Market cap
- ₹57 cr
- Stock P/E
- 8.2peers 15.1
- Book value
- ₹52.5
- Price to book
- 0.70
- EV / operating profit
- 3.5
- Market cap to sales
- 0.71
- ROCE · FY26
- 11.7%
- ROE · FY26
- 9.0%
- ROE, 3-year average
- 13.8%
- Operating margin · FY26
- 7.7%peers 10.3%
- Sales growth, 3 years
- -4.3%
- Profit growth, 3 years
- -17.7%
- Debt to equity
- 0.02peers 0.18
- Borrowings
- ₹1.4 cr
- Interest cover
- 231.0×
- Cash from business / op. profit
- 104%
- Debtor days
- 57
- Pledged
- 0.00%
- Promoter holding
- 71.00%
- Change in promoter holding
- +0.27 pts
- Shareholders
- 1,358
- 52-week high / low
- ₹62 / ₹28
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Delta Autocorp share price chart
Close on 6 Nov 2026 · -1.33% on the day · Vol 12,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +5.7%
- 3 months
- +6.0%
- 6 months
- -16.6%
- 1 year
- -36.6%
- Since IPO
- -71.5%
- Traded a day, 20 days
- ₹0.06 cr
- Taken for delivery
- 78%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | -4% | -18% |
| 3 years, a year | - | - |
| Latest half, H2 FY26 | -28% | -47% |
About Delta Autocorp: business, products and customers
Delta Autocorp makes electric scooters, electric rickshaws, small electric goods and garbage carriers and new auto style three wheelers under the Deltic brand, mainly for buyers in smaller towns. Its shares trade on NSE Emerge.
Delta Autocorp designs its vehicles, has component makers build the parts to its specifications, and assembles them at Rupnarayanpur in West Bengal and Baghpat in Uttar Pradesh. Almost all sales are to its dealers, more than three hundred of them in twenty five states and union territories, who resell to riders; it also supplies spare parts, a few state and city vehicle programmes, and runs a small number of its own showrooms through its subsidiary Electrofine Motors.
As an assembler it buys most of the value of each vehicle as bought in parts, so raw material is about three quarters of sales and margins depend on keeping parts costs below what dealers will pay. Stock of parts and vehicles is large, and government orders arrive in lumps: a planned government order of about ₹20 cr slipped out of FY26. The company cut scooter prices by about 5% to 6% during FY26 and gave dealers more incentives, which grew scooter channel sales but squeezed margins.
Read more about the business
The offer document compares it with Wardwizard Innovations and Mobility, which also makes electric two wheelers. At the June 2026 call the managing director named Ola and Ather, along with older vehicle makers, as better funded competitors. In FY26 electric rickshaw buyers began shifting to the larger L5 category, and the company has launched L5 passenger, cargo and garbage models and four new road registered scooters.
From the red herring prospectus (January 2025), the FY26 annual report, the June 2026 investor presentation and the earnings call transcripts of June 2025, November 2025 and June 2026.
Read the deeper study ↓In its favour
- It has little debt for its size: debt to equity 0.02.
- The promoters own a large part of the company: 71.00%.
To watch
- Work orders for the two government programmes covering 340 vehicles, where the company says it is lowest bidder.
- Sales in FY27 against the about ₹105 cr the managing director spoke of in June 2026.
- Launch of the Reed scooter, expected within about twelve months of June 2026, and spending of the ₹18.5 cr of IPO money kept for new products.
- The outcome of the disputed customs demands and the investigation into the ₹1.58 cr of diverted payments.
- Customers take longer to pay than before: 57 days in FY26, against 16 in FY24.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Delta Autocorp revenue and profit growth
Half-yearly results · Profit and lossSales have fallen. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Delta Autocorp half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 30.84 | 52.34 | 42.13 | 37.54 |
| Expenses | 26.84 | 45.35 | 38.67 | 34.79 |
| Operating profit | 4 | 7 | 3.46 | 2.75 |
| OPM | 13.0% | 13.4% | 8.2% | 7.3% |
| Interest | 0.13 | 0.09 | 0.02 | 0.02 |
| Depreciation | 0.14 | 0.15 | 0.15 | 0.15 |
| Profit before tax | 3.77 | 7.54 | 4.61 | 4.69 |
| Net profit | 2.86 | 5.88 | 3.46 | 3.10 |
Delta Autocorp profit and loss
Full years to March, FY24 to FY26 · ₹ crore, consolidated where reported
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Sales | 62.83 | 83.19 | 79.58 |
| Expenses | 53.63 | 72.19 | 73.47 |
| Operating profit | 9.20 | 10.99 | 6.11 |
| OPM | 14.6% | 13.2% | 7.7% |
| Other income | 0.27 | 0.82 | 3.07 |
| Interest | 0.01 | 0.21 | 0.04 |
| Depreciation | 0.28 | 0.29 | 0.30 |
| Profit before tax | 9.18 | 11.31 | 9.20 |
| Tax rate | 25.5% | 25.7% | 24.9% |
| Net profit | 6.84 | 8.40 | 6.91 |
| EPS ₹ | 221.93 | 5.49 | 4.52 |
| Dividend payout | 0.0% | 0.0% | 0.0% |
Earnings per share before FY25 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Delta Autocorp profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Operating margin | 14.6% | 13.2% | 7.7% |
| Tax rate | 25.5% | 25.7% | 24.9% |
| ROCE | · | 23.4% | 11.7% |
| ROE | · | 18.5% | 9.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% |
Delta Autocorp debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. It cut its borrowings last year. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Delta Autocorp balance sheet
At each 31 March · ₹ crore
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Equity capital | 0.31 | 15.29 | 15.29 |
| Reserves | 17.47 | 57.77 | 64.97 |
| Net worth | 17.78 | 73.06 | 80.26 |
| Borrowings | 3.87 | 3.87 | 1.35 |
| Other liabilities | 11.35 | 7.97 | 7.80 |
| Total liabilities | 33 | 84.90 | 89.41 |
| Fixed assets | 0.90 | 0.97 | 1.08 |
| Capital work in progress | 1.03 | 2.91 | 0 |
| Investments | 0 | 0 | 0.50 |
| Other assets | 31.07 | 81.02 | 87.83 |
| Receivables | · | 16.61 | 12.46 |
| Inventory | · | 18.26 | 21.88 |
| Cash | · | 32.78 | 36.65 |
| Trade payables | · | 3.86 | 4.01 |
Delta Autocorp cash flow
₹ crore
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Cash from operations | -14.40 | -12.68 | 6.37 |
| Cash from investing | 0.46 | -2.07 | 0.06 |
| Cash from financing | 14.79 | 46.67 | -2.56 |
| Net cash flow | 0.85 | 31.92 | 3.87 |
| Capital spending | · | 1.94 | 2.11 |
Working capital
Days
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Debtor days | 16 | 73 | 57 |
| Inventory days | 138 | 108 | 141 |
| Days payable | 57 | 23 | 26 |
| Cash conversion cycle | 97 | 159 | 172 |
| Working capital days | 102 | 171 | 181 |
Delta Autocorp peers and competitors
Listed SME companies in the same industryBy sales, Delta Autocorp is number 4 of the 8 listed SME companies in automobiles.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Zelio E Mobility | 2,430 | 86.8 | 310 | 28 | 11.0% | 0.18 |
| Tunwal E-Motors | 144 | 11.2 | 277 | 12.8 | 7.2% | 0.22 |
| Amba Auto Sales and Services | 212 | 15.1 | 269 | 14 | 10.4% | 2.14 |
| Delta Autocorp | 57 | 8.2 | 79.6 | 6.9 | 7.7% | 0.02 |
| Supertech Ev | 40 | 10.2 | 78 | 3.9 | 8.6% | 0.15 |
| Bikewo Green Tech | 173 | 52.8 | 54.5 | 3.3 | 10.3% | 0.15 |
| Victory Electric Vehicles International | 33 | 15.2 | 32.1 | 2.2 | 12.0% | 0.00 |
| Resourceful Automobile | 15 | 10.1 | 26.2 | 1.5 | 9.9% | 0.69 |
| Median of the 7 others | 144 | 15.1 | 78 | 3.9 | 10.3% | 0.18 |
Delta Autocorp shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
Delta Autocorp shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Jan 25 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|
| Promoters | 70.73% | 70.73% | 70.73% | 71.00% |
| Foreign investors (FIIs) | 5.92% | 2.85% | 0.31% | 0.76% |
| Indian institutions (DIIs) | 6.84% | 7.01% | 5.60% | 3.92% |
| HNIs (over ₹2 lakh each) | 0.56% | 3.95% | 5.41% | 4.87% |
| Small holders (up to ₹2 lakh) | 13.42% | 10.87% | 13.29% | 15.88% |
| Companies and others | 2.53% | 4.59% | 4.66% | 3.57% |
| Number of shareholders | 2,018 | 1,177 | 1,327 | 1,358 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
Delta Autocorp study: the business from its own documents
Read from 7 of the company's own documentsDelta Autocorp so far
From the company's own record
- 14 Jan 2025Listed on NSE Emerge at ₹130
- 25 Aug 2026An order announced
- 31 March 2026Promoters at 71.00%
- 14 Jan 2025Highest close since listing, ₹130.90
Delta Autocorp key facts from the filings
Each figure with the document it comes from
- Vehicles sold
- 14,073
- Electric two and three wheelers sold in FY26, below the 16,000 to 17,000 the company aimed for.Investor presentation, June 2026, p.5; Earnings call transcript, June 2025, p.9
- Scooters through dealers
- 5,824 → 10,454
- Scooters sold through its own dealer channel, FY25 against FY26; white label supplies to other brands fell to 1,390 from 4,475.Earnings call transcript, June 2026, p.11
- Three wheelers
- 3,722 → 2,229
- Units sold, FY25 against FY26, as buyers paused while the market moves from L3 rickshaws to L5 autos.Earnings call transcript, June 2026, p.7 and p.12
- FY26 sales mix
- ₹40.9 cr scooters
- Two wheelers in FY26 sales, with three wheelers at ₹33.0 cr and spare parts at ₹5.6 cr.Investor presentation, June 2026, p.12
- Assembly capacity
- 60,000 scooters
- A year across the two plants, as the company states it, plus about 18,000 three wheelers.Earnings call transcript, June 2025, p.16
Show 5 more facts
- IPO money unspent
- ₹23.1 cr
- Of ₹46.5 cr raised, at March 2026; only ₹2.8 cr of the ₹21.3 cr for new products and none of the ₹4.4 cr for a three wheeler plant was used.Annual report FY26, p.31 and p.32
- Money diverted
- ₹1.58 cr
- Payments diverted by an employee who impersonated a vendor over two years; the employee was dismissed and an FIR filed.Annual report FY26, p.37 and p.38
- Disputed customs duty
- ₹2.74 cr
- Not paid at March 2026 because the demands are being contested before the customs commissioner.Annual report FY26, p.38
- Government orders
- 340 vehicles
- Two eastern India programmes where the company was lowest bidder in June 2026, worth ₹8 cr to ₹10 cr, awaiting work orders.Earnings call transcript, June 2026, p.6 and p.7
- Promoter holding
- 71.00%
- Held by the promoter group in March 2026, with nothing pledged.Shareholding pattern, March 2026
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
At the June 2026 call the managing director said the company expects sales of about ₹105 cr in FY27, of which about ₹60 cr from scooters through dealers, ₹20 cr from government orders, ₹15 cr from three wheelers and ₹8 cr to ₹10 cr from spares, and spoke of about ₹150 cr in FY28 and about ₹210 cr in FY29. The company says it expects EBITDA margin of 8% to 10%, plans ₹8.5 cr to ₹10 cr of spending on new products in FY27, and aims to launch its new Reed scooter within about twelve months and a sports motorcycle by the end of FY27.
| What management said | When | What happened |
|---|---|---|
| Sales of ₹110 cr to ₹120 cr in FY26 | June 2025 call | ₹79.6 cr |
| Sales of about ₹100 cr in FY26 | November 2025 call | ₹79.6 cr |
| 16,000 to 17,000 vehicles in FY26 | June 2025 call | 14,073 |
| Government orders of ₹23 cr to ₹24 cr to be supplied in FY26 | June 2025 call | About ₹20 cr of government orders slipped to FY27 |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Delta Autocorp earns money by assembling electric scooters and three wheelers from bought in parts and selling them through dealers in smaller towns, on a thin margin over parts cost.
Its weak spots are a crowded market with far bigger rivals, falling three wheeler demand, missed sales targets, and lapses in control such as diverted payments.
WatchCan it set its own prices?No. It cut scooter prices during FY26 to keep up with the market and pays dealers incentives, and better funded rivals set the pace.
WatchHow strong is it against rivals?It is a small maker in a market where large brands and many unorganised assemblers compete, and its three wheeler market has more supply than demand.
AverageWho are its customers?Mostly a spread of dealers across many states, with some lumpy government orders.
AverageDoes it need a lot of money?It carries a lot of stock, but holds more cash than it needs today, and most of the IPO money for new products is still unspent.
AverageCan it keep finding new work?Scooter sales through dealers grew strongly and it has new models and government bids, but three wheeler sales fell and targets have been missed.
WatchDo good and bad years swing a lot?Yes. A delayed government order, a shift in three wheeler demand or a one off loss can move a year sharply.
Who runs Delta Autocorp?
Promoters, directors and officers; tap a name for the background
AAAnkit AgarwalPromoter, Chairman and Managing Director · holds 57.62%
Bachelor of Engineering from Visvesvaraya Technological University, Belgaum, and an MBA from S.P. Jain (Dubai and Singapore). Began as a business analyst at UBS working on financial models and valuations; 14 years in valuation, finance and the business of electric vehicles, logistics and real estate. Founded Delta Autocorp LLP in 2016. The offer document states that Ankit Agarwal is the spouse of Priyanka Agarwal and the son of Sanwarmall Agarwalla.
Red herring prospectus, p.126, p.169, p.172 and p.173PAPriyanka AgarwalPromoter, Whole Time Director and Chief Financial Officer · holds 7.78%
Bachelor of Arts in Mathematics from the University of Delhi and a certificate in actuarial technique from the Institute of Actuaries of India, with over 14 years in finance, risk consulting, HR and management at Evalueserve, WNS Global Services and Mercer Consulting.
Red herring prospectus, p.170 and p.172SASanwarmall AgarwallaPromoter and Non-Executive Director · holds 1.12%
MBBS from Assam Medical College, Dibrugarh, and a diploma in gynaecology and obstetrics from Gauhati Medical College, with over 45 years in medicine; founder of a nursing home in Nagaland. Paid ₹1 lakh a month as a non-executive director from May 2024.
Red herring prospectus, p.170, p.172 and p.174KNKishore NandaIndependent Director
Bachelor of Engineering in Computer Science from the University of Mysore and an MBA from S.P. Jain, with 20 years in data analytics, media measurement, marketing and strategy; a director at GBG Marketing Science Southeast Asia at Facebook Singapore (Meta).
Red herring prospectus, p.171 and p.172VKVikas KumarIndependent Director
Master of Science in telecommunication from the University of Maryland and a bachelor's in electronics and communication from RVCE, Bengaluru, with over 10 years in software and in anti-counterfeiting systems in India.
Red herring prospectus, p.171 and p.172Delta Autocorp latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹37.5 cr (-28%), net profit ₹3.1 cr (-47%) on H2 FY25.
- Shareholding, 31 March 2026: promoters 70.73% to 71.00%.
- 25 Aug 2026: an order announced.
Delta Autocorp announcements
32 on record, latest first; each opens the filing on the exchange
- Quarterly Compliance Report on Corporate governance - within 21 days from the enDelta Autocorp Limited has informed regarding Submission of the Non-Applicability of Regulation 27(2) as per Regulation 15 of Chapter IV of SEBI (LODR) RegulatiPDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018For the quarter ended 30.09.2026PDF ↗
- Shareholders meetingvoting results of 3rd Annual General Meeting held on September 29, 2026PDF ↗
- Shareholders meetingSrutinizers report of 3rd Annual General Meeting held on September 29, 2026PDF ↗
- Shareholders meetingProceedings of 3rd Annual General Meeting held on September 29, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Copy of Newspaper PublicationOf notice of 3rd Annual General Meeting (AGM) of the Company, and information of E-Voting schedule & cut-off DatePDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 29, 2026PDF ↗
- Outcome of Board MeetingOutcome of Board MeetingPDF ↗
- Action(s) initiated or orders passedBy Office of the Principal Commissioner of Customs (Port), Kolkata and Company intends to exercise its statutory right of appealPDF ↗
- General UpdatesIntimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding the RPDF ↗
- Resignation of Director/KMP/SMPResignation of Director/KMP/SMPPDF ↗
Delta Autocorp annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 June 2026 ↗read
- 30 Nov 2025 ↗read
- 30 June 2025 ↗read
Delta Autocorp share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Delta Autocorp's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,52,89,698 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY24 (₹221.93) and FY25 (₹5.49) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY24 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Delta Autocorp
What does Delta Autocorp do?
Delta Autocorp makes electric scooters, electric rickshaws, small electric goods and garbage carriers and new auto style three wheelers under the Deltic brand, mainly for buyers in smaller towns. Its shares trade on NSE Emerge.
What is the share price of Delta Autocorp?
₹37 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Delta Autocorp?
₹57 cr at the close on 6 Nov 2026, on 1,52,89,698 shares.
What is the P/E of Delta Autocorp?
8.2 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Delta Autocorp's revenue and profit?
Revenue ₹80 cr and profit after tax ₹7 cr in FY26.
Who are the promoters of Delta Autocorp?
Ankit Agarwal, Priyanka Agarwal, Sanwarmall Agarwalla; promoters held 71.00% at 31 March 2026.
What was the IPO price of Delta Autocorp?
₹130 a share; it listed on 14 Jan 2025.
What is Delta Autocorp's website?
www.deltic.co
More SME companies like Delta Autocorp
Other listed SME companies in automobiles, the closest in size first, each read from its own documents.
- Supertech EvSEVL · BSE SME · AutomobilesMarket cap ₹38 cr
- Victory Electric Vehicles InternationalVICTORYEV · NSE Emerge · Automobiles · listed 2026Market cap ₹31 cr
- Tunwal E-MotorsTUNWAL · NSE Emerge · Automobiles · listed 2024Market cap ₹132 cr
- Bikewo Green TechBIKEWO · NSE Emerge · Automobiles · listed 2024Market cap ₹173 cr
- Amba Auto Sales and ServicesAMBAAUTO · NSE Emerge · Automobiles · listed 2026Market cap ₹179 cr
- Resourceful AutomobileRAL · BSE SME · AutomobilesMarket cap ₹12 cr
Every listed SME company in Automobiles → · SME companies listed in 2025 →
Built from 3 earnings call transcripts, 2 investor presentations, 1 offer document, 1 annual report, 32 exchange announcements, 4 shareholding patterns and 3 years of reported results. Every figure carries its source; where the documents are silent, the page says so.