Olectra Greentech (532439) Q4 24/25 earnings summary

Executive summary

• Achieved strong growth in consolidated revenue and profitability for Q4 and FY25, delivering 2,718 electric vehicles, including 2,667 electric buses as of March 31, 2025.

• Expanded manufacturing capacity with a new greenfield plant, scalable up to 10,000 units per year, and commenced partial operations.

• Maintained a robust order book exceeding 10,000 units and a fleet of over 2,700 EVs on Indian roads.

• Audited standalone and consolidated financial results for the quarter and year ended 31 March 2025 were approved, with an unqualified audit opinion from the statutory auditors.

• A final dividend of Rs 0.40 per equity share (10% of face value Rs 4) was recommended, subject to shareholder approval.

Financial highlights

• FY25 consolidated revenue: ₹1,80,189.68 lakhs, up 56% year-over-year; Q4 FY25 revenue: ₹44,892 lakhs, up 55% year-over-year.

• FY25 consolidated PAT: ₹13,921 lakhs, up 77% year-over-year; Q4 FY25 PAT: ₹2,069 lakhs, up 39%.

• FY25 EBITDA: ₹27,632 lakhs, up 49% year-over-year; Q4 FY25 EBITDA: ₹5,835 lakhs, up 36%.

• EV division revenue up 60.4% year-over-year to ₹1,62,179 lakhs; insulator division revenue up 26% to ₹18,011 lakhs.

• Number of EVs sold increased to 972 in FY25 from 541 in FY24.

Outlook and guidance

• FY26 delivery guidance set at 2,000–2,500 buses, reflecting a conservative approach amid ongoing supply constraints.

• Expect Q1 FY26 performance to be in line with Q4 FY25, with normalization of supply chain from Q2 onwards.

• Capacity expansion underway, targeting 5,000 buses initially, scalable to 10,000 based on demand and supply conditions.

• Plans to leverage manufacturing experience and R&D to expand into adjacent EV markets and new geographies.

• Focus on strengthening intercity/interstate and staff transport segments, with scalable plant capacity for future growth.