Olectra Greentech Limited (OLECTRA)
₹1,066.30 +0.88% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Olectra Greentech's revenue was ₹576 Cr (+65.7% year on year, -10.8% on the previous quarter), and net profit ₹26.7 Cr (+2.4% year on year); the operating margin was 11.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹576 | +65.7% | -10.8% |
| Operating profit | ₹68.2 | +42.6% | -31.8% |
| Net profit | ₹26.7 | +2.4% | -53.2% |
| EPS (₹) | 3.16 | -0.3% | -53.3% |
| Operating margin | 11.9% | — | — |
OLECTRA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 34.52% of the OLECTRA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 41.33%. That is close to its usual level. Volume was 0.5 times its average, well below normal.
Delivery in the last 5 sessions: 34.0% · 42.3% · 43.8% · 43.4% · 34.5%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Olectra Greentech has appointed Mr. Surender Nath as Chief Operating Officer (COO) for its Energy Division, effective October 15, 2026. Designated as Senior Management Personnel, Mr. Nath brings 29 years of industry experience across electric mobility, power transmission, and insulator manufacturing, having previously served at Aditya Birla Insulators and ETO Motors. The Energy Division aligns with Olectra's composite insulators and transmission business alongside its core electric mobility operations. The appointment is an operational leadership update with no direct immediate financial impact.
- Appointment of Mr. Surender Nath as COO of Energy Division effective October 15, 2026
- Designated as Senior Management Personnel (SMP)
- Brings 29 years of experience in electric mobility, power transmission, and insulators
- Prior leadership experience includes Aditya Birla Insulators, ETO Motors, and Andhra Polymers Group
Olectra Greentech submitted voting results and the scrutinizer's report for its 26th AGM held on September 26, 2026. All seven resolutions were approved with overwhelming majorities (>95% votes in favor). Key approvals included adoption of accounts, dividend declaration (99.96% favor), contracts with Evey Trans entities (99.99% favor), and unsecured loans/guarantees from parent Megha Engineering & Infrastructures Limited (MEIL) (99.82% favor). Additionally, shareholders approved corporate undertakings against advance facilities linked to rupee term loans of Evey Trans subsidiaries (99.37% favor).
- Resolution 1 (Adoption of Financial Statements) passed with 100% of votes in favor (50,141,703 votes)
- Resolution 2 (Dividend declaration) approved by 99.96% of polled votes (50,122,982 votes in favor)
- Resolution 5 (Contracts with Evey Trans NSK and KAR) passed with 99.99% of valid votes (9,088,352 votes in favor)
- Resolution 6 (Unsecured loans/guarantees from MEIL/MHL) approved with 99.82% votes in favor (9,072,537 votes)
- Resolution 7 (Corporate undertaking for facilities tied to Evey Trans MSR and MAH term loans) passed with 99.37% support
Olectra Greentech concluded its 26th Annual General Meeting on September 26, 2026, attended by 106 members via video conferencing. The agenda included the declaration of a 15% final dividend of ₹0.60 per equity share of face value ₹4 for FY26. Key special business items presented for approval included contracts with Evey Trans entities and obtaining guarantees/unsecured loans from Megha Engineering & Infrastructures Limited (MEIL). Formal voting results will be announced within two working days.
- AGM held on September 26, 2026, with a total of 106 members participating via video conference.
- Proposed final dividend of 15% amounting to ₹0.60 per equity share of ₹4 face value for FY26.
- Remote e-voting was conducted between September 22, 2026 (9:00 AM) and September 25, 2026 (5:00 PM).
- Shareholder queries addressed included updates on the Greenfield EV facility, BYD collaboration, and share splitting.
Olectra Greentech Limited has fixed Saturday, September 19, 2026, as the record date for determining shareholder eligibility for its final dividend of ₹0.60 per share (15% on face value of ₹4) for FY26. The share transfer books and Register of Members will remain closed from September 20, 2026, to September 26, 2026, for the 26th Annual General Meeting (AGM). The dividend payout remains subject to shareholder approval at the upcoming AGM.
- Final dividend rate: 15% or ₹0.60 per equity share of ₹4 face value
- Record date for dividend entitlement: September 19, 2026
- Book closure period: September 20, 2026 to September 26, 2026
- Annual General Meeting: 26th AGM of the Company
Olectra Greentech has fixed September 19, 2026, as the record date for determining shareholder eligibility for a final dividend of Rs 0.60 per equity share (15% on Rs 4 face value) for FY26. The company's share transfer books and register of members will remain closed from September 20, 2026, to September 26, 2026, for the 26th Annual General Meeting. The dividend remains subject to shareholder approval at the upcoming AGM.
- Final dividend declared at 15%, equivalent to Rs 0.60 per equity share of Rs 4 face value.
- Record date fixed for September 19, 2026.
- Book closure period scheduled from September 20, 2026, to September 26, 2026, for the 26th AGM.
Olectra Greentech Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 pursuant to Regulation 34 of SEBI LODR Regulations. The filing details standalone turnover of ₹2,274.23 Cr and net worth of ₹1,225.74 Cr. Electric vehicles contributed 85.69% of turnover, while power insulators accounted for 14.31%. Exports formed 5.28% of revenue, with deliveries to the US, Malawi, and Mozambique.
- Electric Vehicles contributed 85.69% of total turnover, while Power Insulators accounted for 14.31%
- Exports comprised 5.28% of total turnover during FY 2025-26 across the USA, Malawi, and Mozambique
- Standalone turnover reported at ₹2,274.23 Cr with net worth standing at ₹1,225.74 Cr
- Total workforce comprised 427 employees (331 permanent) and 1,403 contract workers as of year-end
- Reported permanent employee turnover increased to 52% in FY 2025-26 from 37.9% in FY 2024-25
Olectra Greentech has dispatched the notice for its 26th Annual General Meeting (AGM), scheduled for September 26, 2026, alongside its FY25-26 Annual Report. The annual report reiterates FY26 operational revenue of ₹2,312.17 crore (up 28% YoY) and Profit After Tax of ₹179.53 crore (up 29% YoY). The company highlighted an order book exceeding 10,000 buses and over 3,800 vehicles currently on road. The filing is a statutory annual compliance intimation.
- 26th AGM scheduled for September 26, 2026, at 12:00 Noon IST via Video Conferencing.
- FY26 Revenue from Operations reported at ₹2,312.17 crore, up 28% YoY.
- FY26 Adjusted EBITDA reached ₹352.28 crore (up 27%), with PAT at ₹179.53 crore (up 29%).
- Order book stands at 10,000+ electric buses with 3,800+ vehicles deployed across 55+ cities.
- Greenfield plant operates at 2,500 units single-shift capacity, scalable to 5,000 units.
Olectra Greentech Limited has submitted the transcript link for its investor conference call held on August 17, 2026, discussing unaudited financial results for the quarter ended June 30, 2026. In Q1 FY27, Olectra reported revenue of ₹575.51 crore and net profit of ₹26.66 crore. The submission is a standard post-earnings compliance disclosure under Regulation 30 of SEBI LODR.
- Conference call was conducted on August 17, 2026
- Call reviewed financial results for the quarter ended June 30, 2026
- Transcript link uploaded to company website per SEBI LODR disclosures
Olectra Greentech has released the audio recording link for its post-earnings investor conference call held on August 17, 2026, discussing the un-audited financial results for the quarter ended June 30, 2026. For Q1 June 2026, the company posted revenue of Rs 575.51 crore and a net profit of Rs 26.66 crore. This disclosure is a procedural compliance filing under Regulation 30 of SEBI LODR Regulations.
- Conference call was conducted on August 17, 2026, regarding Q1 financial results ended June 30, 2026.
- Audio recording has been uploaded on the company's website in accordance with SEBI LODR Regulations.
- Follows initial intimation given by the company on August 12, 2026.
Olectra Greentech released its Q1 FY27 investor presentation showcasing strong operational ramp-up. Consolidated revenue from operations rose 65.7% YoY to Rs 575.51 Cr, driven by a 122% jump in EV deliveries to 358 units compared to 161 units in Q1 FY26. However, net profit growth remained muted at 2.4% YoY to Rs 26.66 Cr due to higher finance costs (Rs 23.59 Cr) and depreciation (Rs 14.62 Cr). The company maintains robust revenue visibility backed by an order book exceeding 8,000 electric buses.
- EV deliveries surged 122.4% YoY to 358 units in Q1 FY27 from 161 units in Q1 FY26
- Consolidated revenue from operations increased 65.7% YoY to Rs 575.51 Cr (Rs 57,550.64 Lakhs)
- Consolidated PAT stood at Rs 26.66 Cr, up 2.4% YoY, moderated by finance costs of Rs 23.59 Cr
- Maintains an active order pipeline with 8,000+ electric buses in the order book
- Operational capacity at the 150-acre Telangana plant stands at 5,000 units/year (2,500 units/shift)
Olectra Greentech reported a strong 67.8% YoY growth in standalone revenue for Q1 FY27, reaching ₹566.64 Cr, primarily driven by the Mobility division. However, Net Profit remained nearly flat at ₹23.19 Cr (up only 3.6% YoY) as profitability was weighed down by a 108% surge in finance costs to ₹23.24 Cr. Sequentially, the performance was weak, with revenue declining 10.8% and PAT dropping 54.2% compared to Q4 FY26. The Mobility segment continues to dominate, contributing 85.7% of total revenue.
- Standalone Revenue from operations grew 67.8% YoY to ₹566.64 Cr from ₹337.60 Cr.
- Finance costs surged to ₹23.24 Cr, a 108.7% increase compared to ₹11.14 Cr in the same quarter last year.
- Mobility Division revenue (e-buses and e-trucks) rose 71.9% YoY to ₹485.76 Cr.
- Net Profit margin compressed significantly to 4.1% in Q1 FY27 from 6.6% in Q1 FY26.
- Energy Division revenue (Composite Polymer Insulators) grew 47.1% YoY to ₹80.88 Cr.
Olectra Greentech reported a strong 67.8% YoY revenue growth in Q1 FY27, reaching ₹566.64 Cr, primarily driven by the Mobility division. However, Net Profit remained nearly stagnant at ₹23.19 Cr (up only 3.6% YoY) due to finance costs doubling to ₹23.24 Cr. Sequentially, the performance was weaker with revenue and PAT declining 11% and 54% respectively compared to Q4 FY26. The company has scheduled its 26th AGM for September 26, 2026.
- Revenue from operations increased 67.8% YoY to ₹566.64 Cr from ₹337.60 Cr.
- Finance costs surged 108.7% YoY to ₹23.24 Cr, significantly impacting the bottom line.
- Mobility Division revenue grew 71.8% YoY to ₹485.76 Cr, while Energy Division grew 47.1% to ₹80.88 Cr.
- Net Profit margin compressed to 4.09% in Q1 FY27 from 6.63% in Q1 FY26.
- Earnings Per Share (EPS) stood at ₹2.83 for the quarter compared to ₹2.73 in the previous year's quarter.
Olectra Greentech has scheduled a conference call for August 17, 2026, at 04:30 P.M. IST to discuss its un-audited financial results for the quarter ended June 30, 2026. The call is being facilitated by Nomura Financial Advisory. This follows a fiscal year (FY26) where the company achieved a TTM revenue of ₹2,312 Cr and a PAT of ₹179 Cr. Investors will likely seek updates on the progress of the Telangana Greenfield plant expansion and the delivery status of electric tippers.
- Conference call scheduled for August 17, 2026, at 04:30 P.M. IST
- Discussion to focus on un-audited financial results for the quarter ended June 30, 2026
- Call facilitated by Nomura Financial Advisory & Securities (India) Private Limited
- Company reported a TTM revenue of ₹2,312 Cr and TTM PAT of ₹179 Cr leading into this quarter
- Current manufacturing capacity stands at 2,500 units per annum with expansion plans to 5,000-10,000 units
Olectra Greentech has been impleaded as a respondent in a Public Interest Litigation (PIL) filed in the Telangana High Court. The litigation challenges the land acquisition and allotment process by TGIIC for 150 acres of land at Seetharampur, Hyderabad. This specific land parcel is the site for Olectra's Greenfield EV Manufacturing Facility, which is central to its plan to scale production from 2,500 units to 10,000 units per annum. While the company is defending its interests, any adverse outcome or stay order could significantly delay its primary growth project.
- 150 acres of land allotted for the Greenfield EV Manufacturing Facility is under legal challenge.
- The PIL challenges the acquisition process by Telangana Industrial Infrastructure Corporation (TGIIC).
- The facility is designed to scale production capacity from the current 2,500 units to 10,000 units per annum.
- Olectra is currently trading at a high P/E of 62.3, making its growth execution at this site critical for valuation support.
- The company has been impleaded as a respondent alongside other parties and TGIIC.
Olectra Greentech Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Aarthi Consultants Private Limited, confirms that all share certificates received for dematerialization between April 1, 2026, and June 30, 2026, were processed within the mandated 15-day window. This process includes the mutilation and cancellation of physical certificates and updating the depository as the registered owner. This is a standard administrative filing required for all listed companies in India.
- Compliance confirmed for the quarter ended June 30, 2026
- Dematerialization requests processed within 15 days of receipt
- Covers the reporting period from April 1, 2026, to June 30, 2026
- Certificate issued by Registrar and Transfer Agent, Aarthi Consultants Private Limited, on July 3, 2026
Financial Performance
Revenue Growth by Segment
Consolidated revenue for H1 FY26 reached INR 1,003.85 Cr, up 20% YoY. The e-vehicle division grew 15.1% YoY to INR 873.50 Cr, while the Insulator division saw robust growth of 65.6% YoY to INR 130.35 Cr.
Geographic Revenue Split
Not disclosed in available documents, though the company maintains a pan-India delivery presence including MSRTC and Puducherry.
Profitability Margins
Consolidated PAT margin for H1 FY26 was 7.5% (INR 75.46 Cr), up 5% YoY in absolute terms. The Insulator division PBIT margin improved significantly to 33.2% from 26.9% YoY, while the e-vehicle division PBIT margin compressed to 9.7% from 12.7% YoY due to product mix shifts.
EBITDA Margin
Consolidated EBITDA for H1 FY26 was INR 148.98 Cr, up 9% YoY. The EV segment EBITDA margin was 11.8% (down from 14.9% YoY), while the Insulator segment EBITDA margin reached 35.0% (up from 29.5% YoY).
Capital Expenditure
The company acquired 150 acres of land in Telangana for a Greenfield electric vehicle manufacturing plant. Capacity was increased from 1,500 vehicles in FY24 to 2,500 in FY25, with ongoing expansion targeting 5,000 units per annum in FY26.
Credit Rating & Borrowing
ICRA revised the long-term rating outlook to Positive from Negative. Finance costs for H1 FY26 were INR 25.82 Cr, representing a 24% increase YoY from INR 20.81 Cr.
Operational Drivers
Raw Materials
Key raw materials include Lithium-ion cells, Blade batteries (cell-to-pack technology), and composite materials for insulators. Cost of materials consumed reached INR 758.22 Cr in H1 FY26.
Import Sources
Not disclosed in available documents, though technology is sourced via a strategic alliance with BYD.
Key Suppliers
BYD is the primary technology and component partner for battery and bus platforms.
Capacity Expansion
Current capacity is 2,500 units per annum; expanding to 5,000 units per annum in FY26, with scalability to 10,000 units per annum at the new Telangana plant.
Raw Material Costs
Cost of materials consumed represented 75.5% of total revenue in H1 FY26, compared to 76.0% in H1 FY25.
Manufacturing Efficiency
Inventory turnover ratio improved to 5.28 in FY25 from 4.57 in FY24, reflecting better inventory holding levels.
Strategic Growth
Expected Growth Rate
40%
Growth Strategy
Growth will be driven by scaling the Greenfield plant to 5,000-10,000 units, entering the electric tipper and staff transport segments, and leveraging the renewed BYD technology alliance through 2030.
Products & Services
Electric buses (9m, 12m, intercity coaches), Electric tippers (92 units delivered), and Composite insulators for power transmission.
Brand Portfolio
Olectra
New Products/Services
Electric tippers (highest quarterly delivery of 25 units in Q2 FY26) and entry into the staff transport private segment (e.g., Microsoft).
Market Expansion
Expanding into intercity/interstate private transport and corporate staff mobility segments.
Market Share & Ranking
Ranked #1 in deliveries for FY25 and maintained a top 3 position in H1 FY26.
Strategic Alliances
Strategic alliance with BYD for electric vehicle technology and battery systems renewed until 2030.
External Factors
Industry Trends
The Indian EV bus market is expected to grow at a 40% CAGR, supported by rising ESG standards and government mandates for clean public transport.
Competitive Landscape
Intense price competition in public procurement tenders; Olectra competes as a top 3 player in the evolving industry landscape.
Competitive Moat
Moat is built on a first-mover advantage with 3,000+ EVs on road, a 480+ million clean kilometer track record, and exclusive access to BYD's Blade Battery technology.
Macro Economic Sensitivity
Sensitive to changes in government regulations, tax laws, and FAME-related subsidies which drive EV adoption.
Consumer Behavior
Increasing corporate and municipal emphasis on ESG standards is accelerating the shift toward electric mobility for staff and last-mile connectivity.
Regulatory & Governance
Industry Regulations
Subject to FAME scheme guidelines, pollution norms, and State Transport Undertaking (STU) tender specifications.
Environmental Compliance
Operations prioritize environmental care; ESG standards are cited as a primary driver for institutional demand.
Risk Analysis
Key Uncertainties
Infrastructure readiness at customer depots and the financial health of STUs affecting payment cycles (impacts working capital by 15-20%).
Geographic Concentration Risk
Pan-India presence with significant orders from state-level transport bodies.
Third Party Dependencies
High dependency on BYD for core battery technology and cell-to-pack solutions.
Technology Obsolescence Risk
Mitigated by the 2030 technology tie-up with BYD and the introduction of advanced Blade Battery systems.
Credit & Counterparty Risk
High exposure to STUs which often operate under financial stress, leading to potential payment delays.
