Order Book of 10,224 Buses: This EV Bus Manufacturer Secures Rs 424 Crore Contract and Bags 297 Electric Bus Order Through 1 Major Win
The current net order book stands at 10,224 buses after delivering 282 buses in Q3 FY'25.
The Himachal Road Transport Corporation (HRTC) chose Olectra Greentech Limited to supply and maintain 297 electric buses through a Letter of Award. The contract worth Rs. 424.01 crores will extend over eleven months. The order is a domestic one, and it does not involve any related party transactions. The growth of Olectra in electric buses becomes evident through this achievement because electric buses form a key part of their business operations. The company continues to grow in the Indian electric vehicle sector through strategic development of sustainable transportation options.
Olectra Greentech Limited started operations in 2000 as a leading company that produces composite polymer insulators and electric buses. The business segment of electric buses makes up 87.5 per cent of the company's operations since it is headquartered in Hyderabad. Olectra's product range includes various models of electric buses with differing capacities and ranges, such as the Olectra V2, iX, X2, and CX2. The company has also ventured into the production of E-Tippers. Olectra continues its business expansion through an 8,088 electric bus order book with a goal to increase its turnover by 100 per cent every two years. The company operates a greenfield plant in Hyderabad with annual production capacity reaching 5,000 buses while planning for expansion to 10,000 units. The company maintains a technology alliance with BYD through 2030 while it develops local EV parts to improve product quality and reduce costs.
The current price of Olectra Greentech Limited stands at Rs 1090.7 on April 09, 2025. The stock has reached its highest point at Rs 1905.7 within a one-year period and its lowest point at Rs 1015.55. Olectra Greentech Limited has achieved a market capitalization of Rs 9,056 crore. The company achieved a 1-year return of -41.67 per cent together with a 3-year return of 56.86 per cent. The Price-Earnings (PE) Ratio of the company equals 73.21.
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In the Quarterly Results of December 2024, the company reported a revenue of Rs 515.37 crore, reflecting a YoY growth of 50.63 per cent compared to Rs 342.14 crore in December 2023. The operating profit stood at Rs 78.93 crore, marking a 61.58 per cent increase from Rs 48.85 crore in the same quarter last year. The profit after tax (PAT) increased by 71.66 per cent to Rs 46.33 crore from Rs 26.99 crore in December 2023.
In FY24, the company posted a revenue of Rs 1,154.14 crore, registering a growth of 5.81 per cent compared to Rs 1,090.76 crore in FY23. The net profit for the year stood at Rs 76.83 crore, reflecting a growth of 17.14 per cent compared to Rs 65.59 crore in FY23.
The company reported a return on equity (ROE) of 8.76 per cent and a return on capital employed (ROCE) of 14.21 per cent. The current net order book stands at 10,224 buses after delivering 282 buses in Q3 FY'25.
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