Investor presentationSep 2026
Sep 2026 · PPT
Source: Nse
Bikewo Green Tech Ltd. (BIKEWO)
SME CapAuto stocks · SME cap · NSE
Bikewo Green Tech Limited is an NSE SME listed company transitioning from a last-mile delivery focus into a scalable energy and mobility infrastructure platform providing full-stack electric vehicle assets, leasing, charging, financing support, lifecycle services, and intelligence.
Data qualityFresh enough for analysisQuote updated 22 Oct, 05:50 pm ISTDetails
Quote22 Oct, 05:50 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result01 Jun, 07:51 pm IST
Score22 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Auto P/E 25.7 (n=127)
Technical timing lens
Trend score and candlestick chart
55NeutralSMA20 +18.4% / mo · MACD − · near 52W high · sector -3.5pp vs Nifty 500 (3M)
Stock trend: 62
Sector RS: 43
Sector 3M: -9.1% vs Nifty 500 -5.6%
Auto FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
BIKEWOD candles · FIT view+374.6%Latest close ₹118.65 on 2026-10-22
Bar
+0.0%
RSI
49
MACD hist
-1.91
52W pos
90%
2026-10-22O ₹118.65H ₹118.65L ₹118.65C ₹118.65Vol 18,000 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
BIKEWONifty AutoNifty 500
- BIKEWO
- +99.7%
- Nifty 500
- -6.2%
- Nifty Auto
- -8.5%
- Vs Nifty 500
- +106.0 pp
Chart stats
22 Oct 2026- From 52W high
- -8.9%
- 52W range position
- 90%
- ATR (14)
- 2.5%
- Volume vs 20D
- 0.47x
- Avg traded value
- ₹0.4 Cr
- 20D price channel
- ₹115.6 - ₹130.3
₹130.3
₹13.7 - ₹130.3
₹2.9
Latest completed session
20-session average
24.5% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED28
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Neutral55
Price trend and sector-relative-strength timing.
Valuation
Legacy model-22.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence62
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹37.5 Cr | NDF | +159.4% |
| EBITDA | ₹4 Cr | NDF | +149.1% |
| Operating margin | 10.7% | NDF | +125 bps |
| PAT | ₹3.3 Cr | NDF | +3170.0% |
| PAT margin | 8.7% | NDF | +368 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 50.30
- P/B
- 3.94
- EV/EBITDA
- 26.22
- Market Cap
- 164.00Cr
Profitability
- ROE
- 8.14%
- ROCE
- 11.00%
- ROA
- 6.43%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 131.90%
- EPS 5Y
- 395.45%
- Revenue 3Y
- 131.90%
- EPS 3Y
- 395.45%
Balance Sheet
- Debt/Equity
- 0.15
- Interest Coverage
- 20.11×
- Altman Z
- 8.52
- Book Value
- 32.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- 9.92 Cr
- EPS TTM
- 2.51
Shareholding
- Promoter Hold
- 53.20%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 97%
Financial History
Updated 22/10/2026
Revenue
₹ CrLatest: 54.5+131.9% vs prev
Net Profit
₹ CrLatest: 3.3+395.5% vs prev
Return on Equity
%Latest: 7.8+357.3% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 49. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~15.5% over last month) — short-term momentum positive.
- RSI(14) at 49 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 9% off 52W high · 763% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
99
RS percentile
Stage 2 UptrendEstablished S2
1M return
-7.2%
3M return
+99.7%
6M return
+413.6%
1Y return
+707.1%
RS 1D
0
RS 20D
0
Sector rank
#5
Industry rank
#32
Stage evidence
- Price is 98.5% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +30.4%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
07 Apr 2026
S2 age
138 trading sessions
Sector
neutral
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
252 observations
22 Oct 2026Value 820.8-1.34%
RS vs Nifty 500821
Valuation & peers
U-Score 28 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 28 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth23/25
Quality0/20
Balance Sheet8/15
Cash Flow1/10
Piotroski
8/9 (+5)
Penalties
-9
Raw sum
28
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
28/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 23/25 to the score.
- Balance sheet contributes 8/15 to the score.
Main drags
- Penalty bucket subtracts 9 points.
- Fair-value margin of safety is negative at -22.6%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
50.3
PB
3.9
EV/EBITDA
26.2
ROE
8.1%
ROCE
11.0%
FCF Yield
—
Debt/Equity
0.1
MoS
-22.6%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 22 Oct 2026
v4.3-runtime-valuation
Final score
28
Previous: 28
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-22.6%
Previous: -25.1%
Score history
12 stored score snapshots. Latest stored move: +0 points.
22 Oct 2026
v4.3-runtime-valuation
28
28
28
28
28
28
28
28
28
28
28
28
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹42.51
-179.1% MoS
Growth-justified P/E
38.5
Growth-justified Value
₹96.76
-22.6% MoS
PEG
0.13
Comparable companies
Peers
Business-comparable peers in Auto — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
TUNWAL
SME
Tunwal E-Motors Ltd.
Auto Components
match 141
52
12.4
10.7%
+49%
FAIR VALUE
SHIGAN
SME
Shigan Quantum Technologies Ltd.
Auto Components
match 137
37
18.9
7.0%
+51%
WATCHLIST
VIAZ
SME
Viaz Tyres Ltd.
Auto Components
match 137
39
24.0
10.8%
+38%
WATCHLIST
SHREEOSFM
SME
Shree OSFM E-Mobility Ltd.
Auto Components
match 136
63
12.3
8.8%
+74%
UNDERVALUED
MUNISH
SME
Munish Forge Ltd.
Auto Components
match 136
40
20.6
10.4%
+47%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-10-22T07:40:46.113Z
Management commentary snapshot
Bikewo outlines its strategic roadmap toward potential Mainboard eligibility by September 2027 and targets migration by December 2027, backed by a pivot into an energy and mobility infrastructure model.
The company's strategic pivot toward a full-stack energy and mobility infrastructure platform addresses typical fleet ownership pain points in India's last-mile delivery market. However, because the document lacks historical financials, current revenue numbers, and actual utilization metrics, execution risk remains high and must be monitored against stated timelines.
Growth engines
Energy & Mobility Infrastructure (EMI) Platform
In DevelopmentBuilding a full-stack platform spanning mobility assets/leasing, energy/charging, financing support, lifecycle services, and VZN connected intelligence.
Last-Mile Delivery Fleet Integration
ActiveTargeting tech-enabled urban and peri-urban last-mile logistics operators with a serviceable obtainable market of ₹2,500–3,000 crore.
Downstream Diversification
PlannedExpanding into adjacent businesses including open energy infrastructure, aviation logistics, global sourcing, and connected intelligence.
Capacity and execution
Mainboard Migration Timeline
TargetedTargeting Mainboard eligibility by September 2027 and a targeted migration application by December 2027, subject to approvals and criteria.
Tailwinds
Expanding Last-Mile Delivery Demand
FavorableIndia's last-mile market is expanding as e-commerce (54.3% share in 2025), B2C share (69.9% in 2025), faster delivery expectations, and urban density reshape fleet demand.
Headwinds
Vehicle Ownership Complexities for Operators
ChallengingHigh upfront capex, financing gaps for smaller operators, fragmented fleet ownership, and EV transition complexity make traditional ownership inflexible.
Risk radar
Execution and Timing Risks
High RiskManagement notes that eligibility and migration timelines are forward-looking statements subject to satisfying financial, market, shareholding, governance, and regulatory requirements.
Asset Utilization and Downtime
Operational RiskConventional supply models face demand fluctuations and downtime that can leave vehicles idle and dilute returns if capacity is mismatched.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The provided investor presentation is a strategic roadmap update detailing long-term transition milestones, market sizing, and platform architecture rather than sequential quarterly financial results.
Sector KPIs management disclosed
Addressable Market Sizing (SOM)
TargetBikeWo estimates a serviceable obtainable market (SOM) of ₹2,500–3,000 crore within a total addressable market (TAM) of ₹65,000+ crore for India last-mile delivery.
Market Growth Rate
FavorableIndia's last-mile delivery market is projected at a 12.7% CAGR from 2026 to 2031, with same-day delivery growing at a 14.3% CAGR through 2031.
Management forward view
Shift to Mobility as a Service
Strategic FocusManagement highlights that logistics operators increasingly need reliable mobility capacity as a service rather than traditional vehicle sales.
Capital Deployment Phase
OngoingCapital deployment into energy, mobility, and EV logistics began in August 2026, with further growth capital deployment slated for December 2026.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Mainboard Migration Progress | Targeting September 2027 for eligibility and December 2027 for migration application | Compliance with financial, governance, and regulatory requirements for NSE mainboard migration |
| Capital Deployment Execution | Capital deployment initiated in August 2026 | Actual deployment velocity and scaling of energy and mobility infrastructure assets |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
62Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 35th percentile of the scored universe and 21st percentile within Auto. Main check: cash conversion is weak at 43/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
0 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
35th percentile
overall median 67 · Auto: 21st pctile, median 74 · SME: 41st pctile, median 64
Evidence depth
Financial-only
0 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
60
acceptable · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
Trust risks
- ▸Promoter holding fell 9.3%.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Bikewo Green Tech Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · Shareholders meeting 4 Sep - Submitted FY2025-26 annual report and AGM notice; includes director reappointments and 29 September 2026 AGM.
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.