Powering the Last Mile: Battery Smart’s Growth Trajectory
India’s leading battery-swapping startup, Battery Smart, has announced robust financial results for the fiscal year 2025. The company’s operating revenue skyrocketed by over 51% to ₹249 crore, driven by the rapid adoption of electric two-wheelers and three-wheelers in industrial hubs and metropolitan cities.
While the company reported a net loss of approximately ₹27 crore for the year, it emphasized that it has achieved EBITDA break-even in recent months. The losses were primarily attributed to aggressive capital expenditure as the firm expanded its swap-station network to over 1,000 locations.
The Future of Swapping
Battery Smart is positioning itself as the “fuel station of the future” for India’s massive fleet of delivery partners and rickshaw drivers. With a fresh infusion of capital and a surging revenue base, the company plans to double its footprint by 2026, aiming to become the first profitable large-scale EV infrastructure player in the country.
