OLECTRA

Olectra Greentech share price & financials

Price
₹1,520.3
Market cap
₹10.8k Cr
Sector
Automobile and Auto Components
Calls analysed
2
Latest concall · Q1 FY27 · call held 17 Aug 2026

Olectra Greentech Limited Q1 FY27

Consolidated Revenue ₹575.5 cr +66%EBITDA ₹72.9 cr +30%PAT ₹23.2 cr +4%PBT ₹34.7 cr +3%

What went well

  • Consolidated Revenue grew 66% YoY to ₹575.5 crores, demonstrating underlying strength.
  • EBITDA increased 30% YoY to ₹72.9 crores, indicating healthy operational performance.
  • Vehicle deliveries surged 122% YoY from 161 units to 358 units, reflecting strong demand in the Mobility segment.

What to watch

  • Q1 faced significant turbulence from material cost hikes and supply chain disruptions due to the Middle East war.
  • Consolidated revenue was lower by approximately 11% QoQ compared to Q4 FY26.
Read the full call →

What Olectra Greentech Limited does

Olectra Greentech Limited, incorporated in 2000 and commercially operational since October 2000, designs and manufactures electric buses, electric tippers/trucks and composite polymer insulators through two operating divisions — Mobility and Energy. The Mobility division builds 7-metre, 9-metre and 12-metre electric buses and tippers sold mainly to state transport undertakings (STUs) and public-sector procurement agencies such as CESL, and also earns revenue from bus maintenance/service contracts. The Energy division manufactures composite polymer insulators used in power transmission networks, sold domestically and via exports. Both divisions are supported by an in-house Blade Battery platform introduced for the EV lineup.

Segments

  • Mobility Division
  • Energy Division
Market position — electric buses
One of the largest electric bus manufacturers in India; #1 market share in the segment (FY26)
Market position — composite insulators
Largest manufacturer of composite polymer insulators in India
Electric buses on road (cumulative)
3,800+
Bus order book (pending vehicles)
9,000+
Cumulative green kilometres run by its e-buses
600 million+
Bus model sizes manufactured
7-metre, 9-metre and 12-metre electric buses
Founded 2000Headquarters Hyderabad, Telangana, India Company website

Guidance record · Q1 FY27

what the last two calls moved 12 tracked 0 delivered 2 missed 10 open
  • EV Deliveries went quiet said Q3 FY26 Promised: 2,000 vehicles Q1 FY27: The deadline for the FY26 delivery target has passed. Management did not provide the final achievement number for FY26 in the Q1 FY27 call, instead focusing on the new FY27 target.
  • New Product Development CAPEX revised up said Q3 FY26 Promised: ₹300 to 350 crores in the coming year Q1 FY27: Guidance revised to ₹450 crores for new platforms (bus/truck) over the next 18 months, plus an additional ₹50 crores for the Insulator division. This represents a significant increase in planned investment.
  • Net Working Capital Days on track said Q3 FY26 Promised: ~2 months (60 days) in the mid-term Q1 FY27: Management reiterated its focus on optimum working capital, stating that vehicles are deployed within 30 to 60 days of production, keeping the company on track with its target.

All 12 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 66.0%, net profit up 3.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue524 515 449 347 657 +25%664 +29%645 +44%576 +66%
EBITDA81 79 54 48 89 +10%93 +18%100 +85%68 +42%
Net profit48 47 21 26 49 +2%47 +0%57 +171%27 +4%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −25.0% 1Y

₹1.0k₹1.2k₹1.4k₹1.6kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q3 FY26 — 3 Feb 2026Q1 FY27 — 17 Aug 2026

1Y: ₹1,612.6 on 10 Sept 2025 → ₹1,209.5. High ₹1,671 (23 Sept 2025), low ₹880.45 (13 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+0.2%
17 Aug
Q3 FY26
−1.7%
3 Feb

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 28.5% a year over 3 years, FY23 to FY26. Operating margin widened to 14.3%.

Year endingFY23FY24FY25FY26
Revenue₹1.1k Cr₹1.2k Cr₹1.8k Cr₹2.3k Cr
Operating profit₹141 Cr₹164 Cr₹258 Cr₹330 Cr
Operating margin12.9%14.2%14.3%14.3%
Interest₹31 Cr₹43 Cr₹52 Cr₹61 Cr
Depreciation₹33 Cr₹37 Cr₹38 Cr₹45 Cr
Net profit₹67 Cr₹79 Cr₹140 Cr₹179 Cr
Net margin6.1%6.8%7.8%7.7%
Cash from operations₹-10 Cr₹143 Cr₹141 Cr₹104 Cr
Free cash flow₹-75 Cr₹64 Cr₹-36 Cr₹-55 Cr
ROCE13.0%15.0%21.0%21.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹33 Cr₹33 Cr₹33 Cr₹33 Cr₹33 Cr₹33 Cr
Reserves₹708 Cr₹744 Cr₹807 Cr₹881 Cr₹1.1k Cr₹1.2k Cr
Borrowings₹8 Cr₹67 Cr₹134 Cr₹121 Cr₹366 Cr₹380 Cr
Other liabilities₹185 Cr₹346 Cr₹583 Cr₹554 Cr₹876 Cr₹959 Cr
Total liabilities₹934 Cr₹1.2k Cr₹1.6k Cr₹1.6k Cr₹2.4k Cr₹2.6k Cr
Fixed assets₹290 Cr₹325 Cr₹356 Cr₹330 Cr₹402 Cr₹574 Cr
Capital work in progress₹0 Cr₹3 Cr₹4 Cr₹72 Cr₹207 Cr₹82 Cr
Investments₹0 Cr₹0 Cr₹2 Cr₹11 Cr₹92 Cr₹94 Cr
Other assets₹645 Cr₹862 Cr₹1.2k Cr₹1.2k Cr₹1.7k Cr₹1.8k Cr
Total assets₹934 Cr₹1.2k Cr₹1.6k Cr₹1.6k Cr₹2.4k Cr₹2.6k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −2.37 pp while FIIs added +2.29 pp. The shareholder count shrank 17% to 4,33,537.

Promoters
50.0%
FIIs
8.0%
DIIs
0.6%
Public
41.5%

Since Jun 2025

  • Public −2.37 pp
  • FIIs +2.29 pp
  • DIIs +0.10 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 50.0%, FIIs 8.0%, DIIs 0.1%, Public 41.8%.Dec '23: Promoters 50.0%, FIIs 7.8%, DIIs 0.1%, Public 42.0%.Mar '24: Promoters 50.0%, FIIs 8.6%, DIIs 0.2%, Public 41.2%.Jun '24: Promoters 50.0%, FIIs 7.6%, DIIs 0.2%, Public 42.2%.Sep '24: Promoters 50.0%, FIIs 5.6%, DIIs 0.3%, Public 44.1%.Dec '24: Promoters 50.0%, FIIs 5.7%, DIIs 0.3%, Public 44.0%.Mar '25: Promoters 50.0%, FIIs 5.4%, DIIs 0.5%, Public 44.2%.Jun '25: Promoters 50.0%, FIIs 5.7%, DIIs 0.5%, Public 43.8%.Sep '25: Promoters 50.0%, FIIs 7.0%, DIIs 0.7%, Public 42.3%.Dec '25: Promoters 50.0%, FIIs 6.9%, DIIs 0.8%, Public 42.3%.Mar '26: Promoters 50.0%, FIIs 7.1%, DIIs 0.7%, Public 42.2%.Jun '26: Promoters 50.0%, FIIs 8.0%, DIIs 0.6%, Public 41.5%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Olectra Greentech Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Meil Holdings Limited 50.02%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in OLECTRA

Filings to Aug 2026

0 new, 4 added, 1 trimmed, 0 sold out — net +0.01 L shares (+1.1%).

Held by funds
₹14 Cr
5 schemes
Biggest holder
Nippon India Nifty Smallcap 250 Index Fund
₹8 Cr · 0.2% of that fund
SchemeHoldingLast month
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹8 Cr+0.01 L
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹4 Cr+0.00 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L
SBI Nifty 500 Index Fund SBI Mutual Fund₹0 Cr−0.00 L
SBI Nifty Small Cap 250 ETF SBI Mutual Fund₹0 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

4 added, 1 trimmed — net +1,170 shares (+1.1%)

Funds are sitting on
+24%
vs est. average cost
Held by funds
₹14 Cr
5 schemes · ≈ 0.15% of the company
Biggest holder
Nippon India Nifty Smallcap 250 Index Fund
₹8 Cr · 0.2% of that fund

Shares held by these funds +226%

Aug '23 1.07 L shares Jul '26

What the price assumes

Attractive

To justify its price of ₹1210, this stock must grow earnings at 33% every year for 7 years. Our analysis caps realistic growth at ~39%. At that growth it is worth ₹1616 — upside of 34%.

Growth the price implies
33.2% a year
for 7 years, fading to 4%
It has actually compounded at
38.8% a year
net profit, FY23–FY26 · EPS 39.3%
The gap
-0.1 pp
34% downside if it only repeats history
Price today ₹1,209.5 Value at the reference growth ₹1,615.9

Change the assumptions yourself →

All earnings calls (2)

Read the Q1 FY27 call →

Learn to analyse Olectra Greentech Limited

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