Brands
Exelmoto shifts gears from vanity to utility
MUMBAI: Forget the flowery talk about clean air and conscious commuting. Exelmoto, the electric cycle venture backed by actor Suniel Shetty, cricketer KL Rahul and actor Ahan Shetty, is done playing the aspirational mobility game. It’s now chasing something far more lucrative: last-mile logistics.
The company has signed up Delhivery, one of India’s largest delivery networks, for a phased rollout of 200 electric bikes purpose-built for hauling parcels through congested urban streets. The deal, which began as a pilot in June, validates founder Akshai Varde’s bet that sturdy frames and fat tyres built for Indian roads could handle real-world commercial pounding.
“Delhivery validated what we built under real-world conditions,” said Varde, a designer with over two decades in motorcycles. “It showed that our design and engineering hold up even in demanding daily use.”
The pivot marks a sharp turn for a brand that launched with lifestyle credentials in June 2025 —lightweight electric cycles that need no registration or licence, aimed at students, office workers and the elderly. But whilst the personal mobility pitch has its charms, the margins and scale lie in B2B contracts.
“Our commercial pivot creates clear paths to profitability,” said Rahul, who joined Shetty and Ahan as co-investor earlier this year. “This isn’t just about personal mobility anymore; it’s about building last-mile infrastructure for India.”
The company hasn’t abandoned retail entirely. Exelmoto recently launched Scoot, an electric cycle with a step-through frame and bench seat designed for women and older riders. It offers 45 kilometres of range with pedal-assist, keeping it licence-free whilst targeting comfort over speed.
“When my generation can confidently adopt electric mobility, the revolution is truly underway,” said Shetty, who came aboard after seeing Varde’s prototype.
With 68 outlets opening, Amazon and Flipkart listings set for November, and manufacturing capacity targeted at 50,000 bikes by 2026, Exelmoto is scaling fast. The company holds two granted patents and four pending, covering frame architecture and component packaging. Exports to southeast Asia and west Asia are in the works.
Ahan, the youngest investor, summed up the shift: “My generation’s looking for brands that evolve with us, not just talk to us. Exelmoto began with style, and now it’s about substance and infrastructure.”
Whether India’s clogged streets need another electric two-wheeler is debatable. Whether they need one that can turn a profit delivering packages is a far more interesting question. Varde and his celebrity backers are betting the answer is yes.
Brands
UltraTech Cement appoints Jayant Dua as managing director
Dua will succeed K. C. Jhanwar after his term ends in December 2026
MUMBAI: UltraTech Cement, the flagship cement arm of the Aditya Birla Group, has elevated Jayant Dua as managing director, effective 1 April, 2026.
The company’s board also approved his appointment as additional director, managing director and key managerial personnel, effective 1 January, 2027, following the completion of the current managing director K C Jhanwar’s term on 31 December, 2026, according to a regulatory filing.
Dua will serve as managing director for a four-year term from 1 January, 2027 to 31 December, 2030.
A veteran executive with more than 37 years of professional experience, Dua joined the Aditya Birla Group’s cement business in 1996 and spent nearly a decade in various functional and leadership roles.
Over the past two decades, he has held several profit-and-loss and chief executive responsibilities across multiple group businesses, including insulators, insurance, Century Cement and the chlor-alkali segment. In 2023, he was elevated to lead the group’s renewables and textiles businesses.
Within the group, Dua has received several internal honours, including the chairman’s individual award for exceptional contribution in 2002, the outstanding leader award in 2009 and the leader of leaders recognition in 2022.
He holds an engineering degree from Indian Institute of Technology Delhi, an MBA from International Management Institute and has completed the advanced management programme at Harvard Business School.
