RattanIndia Enterprises (REL) shared key highlights for the nine months ending December 2025 (9M FY26), showing robust growth across its new-age businesses. Cocoblu recorded 12% revenue growth, while REVOLT maintained its 70% leadership in EV motorcycles and expanded its dealership network to 219 stores. NeoSky demonstrated strong execution by delivering specialized drones for defence and civilian use, while the historical power business reported an EBITDA of Rs. 226 crore in Q3 FY26.
Company-Wide Operational Highlights (9M FY26)
For the nine months ending December 2025 (9M FY26), RattanIndia Enterprises announced that its Revenue from Operations reached Rs. 5,834 Cr, marking a 12% increase compared to 9M FY25 (Rs. 5,198 Cr). The company noted a Q3 FY26 loss of Rs. 162 Cr primarily due to unrealized notional losses on investments. The business philosophy centers on New Age businesses, being ESG compliant, maintaining a low capex structure, and aiming for rapid scalability.
E-commerce: Cocoblu and Neobrands Expansion
The e-commerce division, operating through Cocoblu and Neobrands, showed significant traction:
- Cocoblu recorded 9M FY26 Revenue from Ops of Rs. 5,707 Cr (a 13% growth).
- It served approximately 3.7 Cr orders in Q3 FY26, averaging 4.5 orders per second.
- Cocoblu is entering a global growth phase by partnering with Noon for the Middle East/Gulf region, leveraging Noon’s marketplace and deep sourcing strengths.
- The Neobrands portfolio of Gen Z brands grew by more than 35% from Q3 FY25, introducing new lines like Kaari (ethnic wear), INKD (denim), and Akkord (musical instruments).
Electric Vehicles: REVOLT Dominance and Expansion
REVOLT continues to lead the EV motorcycle segment:
- REVOLT maintained its leadership position in CY 2025 with an estimated ~70% market share.
- The dealer network expanded to 219 stores (up from 186 in Q3 FY25), covering 197 cities across 24 states.
- The company has successfully resolved past FAME-II subsidy issues and currently receives Rs. 5,000 per motorcycle under the PM-E Drive scheme.
- Key models include the RV1 (starting at Rs. 99,999) and the technologically advanced RV400, which boasts AI features. The Total Cost of Ownership (TCO) for a REVOLT bike over 5 years is up to 70% lower than petrol counterparts.
Drones: NeoSky’s Capabilities in Security and Skilling
NeoSky aims to be a full-line drone player, focusing on both defence and commercial applications:
- NeoSky has emerged as a strong player, securing the Defence license (DIPP) and ISO certifications.
- Key achievements include supplying Optic Fiber Drones (OFC) to the Indian Army and delivering specialized drones for Surveillance, Cargo, and Mapping to the Centre for Counter Terrorism (CCT).
- The company is focused on Drone Pilot Training, having completed training for over 500 agricultural students in partnership with the Government of Karnataka.
- The drone market is projected to reach Rs. 1.66 lac Cr by FY2028, positioning India as a potential global hub.
Residual Equity: RattanIndia Power
In the legacy business segment, RattanIndia Power demonstrated strong financial performance.
- The Amravati thermal power plant achieved 79% Plant Load Factor (PLF) and 86% Availability till Q3 FY26.
- The company reported an EBITDA of Rs. 226 crore in Q3 FY26.
- The plant has a total installed capacity of 1350 MW and secured a 1200 MW Power Purchase Agreement (PPA) with MSEDCL.
Source: BSE
