ThunderPlus Reports INR 15 Cr YTD Revenue, Eyes INR 33.4 Cr in FY27 with 2.2X Growth

ThunderPlus Solutions Pvt. Ltd. has reported a Year-to-Date (YTD) revenue of approximately INR 15 crore for FY 2025–26, signalling strong operational momentum and a steady march towards profitability in India’s electric vehicle (EV) charging sector.

The company is now targeting INR 33.4 crore in revenue for FY 2026–27, projecting a 2.2X growth backed by expanding public charging infrastructure and a diversified business model.

ThunderPlus has emerged as a profitable, asset-light player in the EV charging ecosystem, reporting a 19 percent operational margin and a positive Profit After Tax (PAT) margin of 15 percent. This positions the company among a limited number of players in the sector operating sustainably amid widespread industry losses.

The company’s growth trajectory has been steep, with monthly revenue rising from INR 4 lakh in April 2025 to INR 138 lakh in October 2025, marking a 34-fold increase within six months. Charging operations remain the primary revenue driver, contributing over 60 percent to total revenue.

In a significant shift, ThunderPlus has reduced its dependence on a single anchor client, with revenue concentration declining from 75 percent  to 38 percent over the past year. Non-anchor revenue surged by 157 percent, supported by onboarding clients such as Freshbus, GEMS, and Ather Energy.

The company is also witnessing strong traction in public EV charging, with unregistered public charging revenue increasing from INR 5.3 lakh in May 2025 to INR 14.4 lakh in February 2026. This reflects rising EV adoption and growing demand for accessible fast-charging networks.

Currently operating over 250 charging stations nationwide, ThunderPlus is expanding aggressively across key states including Tamil Nadu, Karnataka, and Andhra Pradesh.

The company has achieved operating breakeven and is nearing consistent profitability, with expectations of sustained Profit Before Tax (PBT) positivity once monthly revenues reach INR 150–160 lakh.

As part of its expansion strategy, ThunderPlus is investing INR INR 9.05 crore to establish six high-capacity public charging stations along key transit corridors. These assets are projected to generate INR 99 lakh in annual operational margin.

Commenting on the performance, Rajeev YSR, Executive Director of ThunderPlus, said that the company remains focused on sustainable and disciplined growth, emphasizing profitability alongside scale as EV adoption accelerates across India.

Looking ahead, ThunderPlus plans to scale through a diversified four-channel model, comprising public charging, Park & Charge solutions, EPC services, and equipment sales. Each segment is expected to contribute no more than 25 percent of total revenue, ensuring balanced growth and reduced dependency on any single stream.