Ecos (India) Mobility & Hospitality Ltd(ECOSMOBLTY)

NSE: ECOSMOBLTYBSE: 544239

₹ 99.9-0.05%refreshed 26 Oct, 03:56 pm ISTMarket cap: ₹ 599 crWebsite: www.ecosmobility.comUpdated: 24 Oct 2026

About

Ecos (India) Mobility & Hospitality describes itself as one of India's leading providers of chauffeur-driven mobility. It offers Chauffeured Car Rental (CCR) and Employee Transportation Services (ETS) to corporate customers. It runs an asset-light model, with more than 90% of its 20,000+ vehicle fleet owned by vendors, and completed about 5.23 million trips in FY26. FY26 revenue was Rs 808.16 Cr.^[1][2]

Business segments

Employee Transportation Services (ETS) made up 59% of revenue in Q1 FY27, compared with 58% for FY26.^[3][4]
Chauffeured Car Rental (CCR) made up 42% of revenue in FY26 and 43% in Q4 FY26, below the company's target range of 45-55%.^[4]
In FY25 the revenue split was ETS Rs 381.54 Cr (58.3%), CCR Rs 258.18 Cr (39.5%) and Others Rs 14.26 Cr (2.2%).^[5]
In Q3 FY26, CCR revenue grew almost 30% YoY and ETS revenue grew almost 24% YoY.^[6]

Services and technology

Services include CCR, ETS, corporate mobility solutions, event transportation, and global mobility coordination across 30+ countries.^[1]
The company is investing in its own technology, including a transport management system, fleet management tools and booking platforms.^[1]
A major upgrade of the CCR technology platform was completed in Q1 FY27. A B2C app for premium CCR services is expected to launch in Q2 FY27.^[3]
About 14% of bookings were digital in Q1 FY27. In Q4 FY26, more than 14% of CCR bookings came through CabDrive Pro, APIs or the customer app, compared with 22.6% in Q2 FY26.^[3][4][7]

Fleet and footprint

The fleet, owned plus vendor vehicles, was about 19,500 in Q1 FY27. The vendor partner network grew from about 14,000 vehicles in FY25 to 20,000+ in FY26.^[3][4]
Owned vehicles are only 5% of the fleet as of FY26. In FY25, about 94% of the fleet came from third-party vendors.^[4][5]
In Q1 FY27, 10,000-11,000 of about 19,000 vehicles were in use daily.^[3]
The company operated in 151 Indian cities in Q1 FY27, after adding 20 during the quarter. It had 130+ cities at the end of FY26.^[3]
Electric vehicles on the network rose to 460 at the end of Q1 FY27, from 390 at the end of Q4 FY26.^[3]

Key operating numbers

The company completed about 1.48 million trips in Q1 FY27, up 27% YoY and about 7% QoQ.^[3]
Trips totalled about 5.23 million in FY26, compared with 4.04 million in FY25, a rise of about 29%.^[4]
Revenue per trip fell from about Rs 1,600 in FY25 to about Rs 1,550 in FY26, because of pricing pressure and shorter trips.^[4]

Customers

There were about 1,400 active enterprise clients in Q1 FY27, up about 18% YoY. The company added 61 new clients, compared with 53 in Q1 FY26.^[3]
The company served 1,750+ active corporate clients in FY26, including 70+ Fortune 500 companies. It added 223 new clients, compared with 188 in FY25.^[1][4]
Customers with relationships of more than five years supplied about 51% of revenue in Q1 FY27, compared with 55% in FY26.^[3][4]
Global capability centres (GCCs) supplied about 66% of ETS revenue in Q2 FY26.^[7]
Customer segments include corporates, GCCs, IT & ITeS, manufacturing, institutions, events and B2B2C travel.^[1]

International reach

An exclusive India General Sales Agent (GSA) arrangement with SIXT gives ECOS customers access to SIXT's self-drive car rental network in 100+ countries.^[4]
International revenue was about Rs 4.7 crores in H1 FY26, roughly flat YoY. It was Rs 9 crores in FY25.^[7]

Expansion plans

The company is expanding into Tier-II and Tier-III cities and new international locations, in line with enterprise demand.^[3]
Acquisitions are under evaluation, with Rs 1,558 mn of cash available as of Q1 FY27.^[3]
Capex for FY26 was guided at about Rs 32 crores.^[6]

Recent developments

In Q1 FY27, management lowered its FY27 EBITDA margin guidance to about 10%, from 11-13%. It cited competition on ETS pricing and higher costs.^[3]
FY27 revenue growth guidance was set at 15-18% in Q1 FY27, compared with 18-20% in Q4 FY26.^[3][4]
After FY26 ended, the company added event management in India and abroad as a new line of business.^[1]
The company opened a second office in Bengaluru in January 2026.^[6]
A one-time provision of Rs 79.14 million for doubtful debts from one client was booked in Q2 FY26. The amount is under legal recovery.^[7][4]

Market Cap

₹599 Cr

High / Low

₹260 / 100

Stock P/E

10.2

Price / Book

2.3

Book Value

₹44

EPS

₹9.6

No. of Shares

6 Cr

ROCE

30.2%

ROE

23.7%

OPM

9.4%

Debt / Equity

0.00

Sales

₹808 Cr

Net Profit

₹58 Cr

Promoter holding

67.8%

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