Victory Ele.
: VICTORYEV · 2/3 Wheelers
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Snapshot
Unlock Victory Ele.'s vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Victory Electric Vehicles International Limited designs, manufactures, and distributes a range of electric vehicles including E-Rickshaws, cargo loaders, and L5 category three-wheelers. The company focuses on the electric mobility sector within the Indian market.
Business Model
The company operates primarily through a business-to-business (B2B) model, which generates over 90% of its total revenue.
- B2B Revenue Contribution:>90%
Growth Outlook
Growth is driven by the increasing demand for electric three-wheelers and cargo solutions in the Indian logistics and transportation sectors.
Key Risks
- Regulatory Risk. Changes in government subsidies or safety regulations for electric vehicles could impact operational costs and demand.
- Supply Chain Dependency. The company is susceptible to disruptions in the supply of critical components such as lithium-ion batteries and electronic controllers.
- Market Competition. The electric two and three-wheeler segment in India is highly competitive, with numerous established players and new entrants.
- Technological Obsolescence. Rapid advancements in battery technology and vehicle efficiency may require significant ongoing capital expenditure to remain competitive.
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Peers · 2/3 Wheelers
| Company | Mkt Cap | P/E | EV/EBITDA | Rev Gr YoY | EBITDA Mgn | ROE | ROCE | 1Y Return |
|---|---|---|---|---|---|---|---|---|
Victory Ele.VICTORYEV | ₹39 Cr | — | — | — | 12.0% | — | — | — |
Hero MotoCorp Ltd.HEROMOTOCO | ₹1.12L Cr | 20.56 | 13.03 | 25.6% | 16.9% | 26.8% | 34.2% | +10.1% |
Ather Energy Ltd.ATHERENERG | ₹61,924 Cr | -158.93 | -440.68 | — | -3.3% | -25.4% | -14.6% | +259.1% |
Ola Electric Mobility Ltd.OLAELEC | ₹18,042 Cr | -9.92 | -26.72 | -49.2% | -40.0% | -41.0% | -22.4% | -27.9% |
Zelio E-MobilityZELIO | ₹1,865 Cr | — | — | — | 11.0% | — | — | — |
EBIX LimitedEBIX | ₹465 Cr | -77.46 | 55.00 | -90.8% | 106.8% | 1.7% | 18.5% | -52.7% |
As of Mar 2026
Financials
Victory Ele.
: VICTORYEV · 2/3 Wheelers
Limited coverage
We are not actively covering this company or have limited coverage today. Click to request coverage.
Snapshot
Unlock Victory Ele.'s vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Victory Electric Vehicles International Limited designs, manufactures, and distributes a range of electric vehicles including E-Rickshaws, cargo loaders, and L5 category three-wheelers. The company focuses on the electric mobility sector within the Indian market.
Business Model
The company operates primarily through a business-to-business (B2B) model, which generates over 90% of its total revenue.
- B2B Revenue Contribution:>90%
Growth Outlook
Growth is driven by the increasing demand for electric three-wheelers and cargo solutions in the Indian logistics and transportation sectors.
Key Risks
- Regulatory Risk. Changes in government subsidies or safety regulations for electric vehicles could impact operational costs and demand.
- Supply Chain Dependency. The company is susceptible to disruptions in the supply of critical components such as lithium-ion batteries and electronic controllers.
- Market Competition. The electric two and three-wheeler segment in India is highly competitive, with numerous established players and new entrants.
- Technological Obsolescence. Rapid advancements in battery technology and vehicle efficiency may require significant ongoing capital expenditure to remain competitive.
Start your research today
Unlock AI insights, financials, peers and live data on Victory Ele. and 5,000+ companies — free.
Peers · 2/3 Wheelers
As of Mar 2026