COMPANY INTELLIGENCE PROFILE
Euler Motors Private Limited
Euler Motors is a Delhi-headquartered electric commercial vehicle (e-CV) manufacturer, founded in 2018 (as per Inc42) with the entity incorporated 15-Jan-2015.
Euler Motors Private Limited, headquartered in Delhi, is an electric commercial vehicle manufacturer incorporated in 2015. The company designs and produces electric 3-wheelers and light trucks, catering primarily to fleet and logistics operators, and has over 1,000 electric vehicles in operation. Euler Motors has filed more than 50 patents. Recent funding includes a Series E round led by Lightrock and a Series D round led by Hero MotoCorp. Legal challenges involve copyright infringement disputes and constitutional matters.
AI-generated, may contain errors.
Business Overview
- Euler Motors is a Delhi-headquartered electric commercial vehicle (e-CV) manufacturer, founded in 2018 (as per Inc42) with the entity incorporated 15-Jan-2015.
- It designs and makes electric 3-wheeler cargo/last-mile vehicles and light electric trucks, Turbo EV 1000, Storm T1500/HiLoad EV models, targeting fleet and logistics operators, with a stated 1000+ EVs on road and 50+ patents filed, source: eulermotors.com.
- DPIIT-recognised startup, TheCompanyCheck.
- Registered business activity per MCA filing category: "Motor vehicle manufacturing services
- Rental and leasing of motor vehicles, machinery, equipment, capital goods" (Tofler).
Sector & Classification
Automotive / electric commercial vehicle manufacturing (NIC classification shown inconsistently across aggregators — Tofler tags "Computer Related Services" which is very likely a mis-tagged NIC code; TheCompanyCheck tags "Automotive - electrical and bio fuel vehicles", consistent with the actual business)
Directors & Key Management
Directors — source notes
Core/founding directors confirmed across 2 sources: Saurav Kumar (DIN 03196571) and Gaurav Kumar (DIN 07055759) — both Director/Shareholder. Nominee directors differ by snapshot date (reflecting board changes across funding rounds), not cross-confirmed: Tofler (older snapshot) lists Arpit Agarwal (DIN 03585313) and Ashish Agarwal (DIN 09754114) as nominee directors; TheCompanyCheck (more recent snapshot) lists Arpit Agarwal (DIN 03585313), Kausalya Nandakumar (DIN 11334553) and Chirantan Patnaik (DIN 11377400) as nominee directors. Falconebiz (best source for DINs per playbook) could not be scraped this session — no additional cross-check obtained. Treat nominee-director DINs as partial/unconfirmed; founder DINs as confirmed.
GST Registrations
Not obtained. PAN AAFCC9003K identified (Tofler) but no valid full GSTIN could be retrieved — knowyourgst/findgst/mastersindia PAN-lookup endpoints all returned 404/500 this session, and a Bing-summarized "07AAFCC9003K" is not a well-formed 15-digit GSTIN and was discarded as unreliable. Home state almost certainly Delhi given registered address; #registrations and status not obtained.
Financials
Euler Motors Private Limited reported varied financial figures for FY2025, with revenue between ₹191 Cr and ₹206 Cr and a loss of ₹200 Cr. FY2026 projections estimate revenue from ₹402 Cr to ₹433.2 Cr. Employee numbers range from 447 to 1,360. Borrowings increased by 135.55% as per Tofler. Data inconsistencies remain.
AI-generated, may contain errors.
- Figures conflict materially across sources and appear to mix standalone entity data with press-reported consolidated/group figures
- None independently verified against an audited filing this session — treat as partial: • Tofler (as of Mar-2025): total assets ₹410.2 Cr, net worth down 23.95% YoY, total borrowings up 135.55% YoY, debt-to-equity 1.84, operating revenue growth 15.73% YoY, absolute revenue/PAT/EBITDA paywalled. • TheCompanyCheck (FY2025): revenue ₹206 Cr (+18% YoY), EPFO employee count 447, open charges ₹344 Cr, satisfied charges ₹180 Cr. • Inc42 company tracker: FY25 revenue ₹206.0 Cr, FY26 revenue ₹433.2 Cr (+110.69% YoY), employee count 1,360. • Entrackr, press reporting: FY25 revenue ₹191 Cr with ₹200 Cr loss
- FY26 revenue ₹402 Cr (doubled) with net loss widening 21% to ₹315 Cr.
- FY25 revenue figures diverge, ₹191 Cr vs ₹206 Cr, and FY26 revenue diverges, ₹402 Cr vs ₹433.2 Cr, between Entrackr and Inc42/TheCompanyCheck — reported as a source conflict, not resolved.
- Standalone vs consolidated basis not explicitly stated by any source.
Funding History
- Source conflict on cumulative total
- Individual round details from Entrackr are the most specific and are treated as more reliable than Inc42's aggregate: • Series E — ~$47M led by Lightrock, closed around Mar 2026 (Entrackr)
- Founder stake diluted to single digits post-round, Apr 2026, Entrackr. • Series D — ~₹638 Cr (~$76.5M) led by Hero MotoCorp, May 2025, valuation flat vs prior round (Entrackr)
- Tofler's charge filings around Dec-2024–May-2025, Catalyst Trusteeship, Orbis Trusteeship, Axis Trustee, Deutsche Bank, Oxyzo, are consistent with debt raised alongside/around this period. • $24M round — led by Piramal Alternatives, ~May 2024 (Entrackr). • Series C extension — ₹120 Cr, Nov 2023 (Entrackr). • Debt financing — ~$25M planned in tranches, Feb 2026 (Entrackr).
- Inc42's tracker states "Total Funding: $376.94M across 14 rounds, current stage Series E" — this cumulative figure and round-count are NOT independently verified and may be a Tracxn-style aggregate, per known entity-confusion/staleness risk with such trackers, — use with caution, flagged per playbook rule on not trusting Tracxn-style cap/funding aggregates blindly.
Loans & Charges
| Charge holder | Amount | Details |
|---|---|---|
| recorded charges totalling | ~₹251.5 Cr | |
| Catalyst Trusteeship Ltd | ₹82 Cr | 19-Dec-2024 |
| Orbis Trusteeship Services Pvt Ltd | ₹10 Cr | 25-Mar-2025 |
| Oxyzo Financial Services Pvt Ltd | ₹12.5 Cr | 29-Mar-2025 |
| Deutsche Bank AG | ₹30 Cr | 30-Apr-2025 |
| Axis Trustee Services Ltd | ₹15 Cr | 07-May-2025 |
| HDFC Bank Ltd | ₹12 Cr | 28-Sep-2023 |
| this total does not reconcile with Tofler's itemised | ₹251.5 Cr |
- Partial/conflicting on total.
- Tofler's itemised open-charge register (free tier) lists 10 all shown as open/active as of the fetch date: ₹30 Cr, 10-Jan-2025; ₹30 Cr, 11-Apr-2025, ₹12 Cr, 11-Apr-2025, ₹18 Cr, 12-May-2025
- TheCompanyCheck separately states aggregate open charges of ₹344 Cr and satisfied charges of ₹180 Cr — so the true current open-charge total is unresolved between the two sources, reported, not adjudicated
- Per playbook, "no charges shown" would not have meant none ever — here charges ARE shown, so this caveat doesn't apply, but the amount conflict is noted.
Credit Ratings
- Not obtained — no CRISIL, ICRA, or CARE rating for Euler Motors Private Limited could be located this session, direct rating-agency site fetches were not attempted beyond general web queries, which returned no hits before the session's search budget was exhausted.
Legal & Compliance
- Confirmed via Indian Kanoon: (1) Dassault Systèmes vs Euler Motors Private Limited — Delhi High Court, copyright-infringement matter alleging unauthorised/unlicensed use of CATIA and SOLIDWORKS engineering software
- Multiple hearings before Justice C.
- Hari Shankar spanning Sep-2023 to Feb-2024. (2) Euler Motors vs State of West Bengal — Calcutta High Court (Appellate Side), a writ/constitutional matter, nature/subject not detailed in the search snippet, with hearings listed from May-2024 through Feb-2026.
- Full case numbers/outcomes not retrieved — flagged as a gap.
Competitive Landscape
- Based on general industry knowledge, not source-verified this session due to exhausted web-search budget, — India electric commercial/light-commercial-vehicle peers: Altigreen Propulsion Labs, electric 3W/LCV, similar-stage startup, Omega Seiki Mobility, electric 3W/LCV, similar-stage startup, Mahindra Last Mile Mobility / Mahindra Treo, large incumbent OEM division, Piaggio Vehicles — Ape E-Xtra, large incumbent OEM, Kinetic Green Energy & Power, electric 3W, similar-stage, Tata Motors — Ace EV, large incumbent OEM.
- This list should be re-verified against a live source before publishing.
Frequently Asked Questions
What is Euler Motors known for?
Euler Motors is a Delhi-headquartered electric commercial vehicle manufacturer that designs and makes electric 3-wheeler cargo and last-mile vehicles, as well as light electric trucks. They focus on serving fleet and logistics operators.
What is the Corporate Identification Number (CIN) of Euler Motors?
The CIN of Euler Motors is U72900DL2015PTC275513.
What is the GSTIN of Euler Motors?
A valid full GSTIN for Euler Motors could not be retrieved. The GSTIN is not obtained.
When was Euler Motors incorporated?
Euler Motors was incorporated on January 15, 2015.
Where is the registered office of Euler Motors located?
The registered office of Euler Motors is located at B-99, Second Floor, Panchsheel Vihar, South Delhi, New Delhi, Delhi 110017.
Information compiled from public registry and secondary sources. It may be incomplete or dated; verify independently before relying on it.