Olectra Greentech (532439) Q1 25/26 earnings summary

Executive summary

• Consolidated revenue and profitability grew steadily in Q1 FY26, with 2,879 electric vehicles delivered to date, including 2,812 electric buses and 67 electric tippers, and a strong order book exceeding 10,000 units.

• Olectra buses have covered over 44 crore kilometers, saving 135.4 million liters of diesel and reducing CO2 emissions by 362.8 million kg, equivalent to planting 16.8 million trees.

• State-of-the-art Hyderabad plant with scalable capacity up to 10,000 units per year; expansion into electric tippers and adjacent EV markets.

• Professional management, robust financial performance, and established relationships with state transport undertakings drive growth.

• Board approved unaudited standalone and consolidated financial results for Q1 FY26, with auditors issuing unqualified review reports.

Financial highlights

• Q1 FY26 consolidated revenue reached ₹34,722.35 lakhs (INR 347.22 crores), up 11% year-over-year; EBITDA for Q1 was ₹5,597 lakhs, up 11% year-over-year.

• Profit before tax rose 6% to INR 33.8 crores, and profit after tax increased 7% to INR 26.03 crores year-over-year.

• Standalone net profit after tax for Q1 FY26 was ₹2,239.14 lakhs, compared to ₹2,074.21 lakhs in Q1 FY25.

• Number of EVs sold in FY25 was 972, up from 541 in FY24.

• FY25 revenue from operations reached ₹180,190 lakhs, up 56% year-over-year from ₹115,414 lakhs in FY24.

Outlook and guidance

• Targeting delivery of 2,000 electric buses in FY26, with significant ramp-up expected in H2.

• Capacity expansion underway to reach 5,000 buses by Q4 FY26, scalable to 10,000 buses.

• Focus on leveraging technology and R&D to expand product portfolio and enter new geographies.

• EBITDA margin expected to stabilize around 12% long-term as volumes and competition increase.

• Management continues to focus on growth in both insulator and electric vehicle segments.