Olectra Greentech Ltd logo

Olectra Greentech Ltd

OLECTRA NSE

Olectra Greentech Limited was incorporated in 2000 . The Company is primarily engaged in the manufacturing of composite polymer insulators and electrical buses. Its registered office is in Hyderabad. [1] [2]

AI Verdict: HOLD Confidence: 5%

Olectra Greentech demonstrates strong revenue growth at 28% CAGR over 3 years and impressive 85% profit CAGR over 5 years, positioning it well in India's EV bus segment. However, a PE of 61.9x and PB of 9.05x leave little margin of safety, while high debtor days of 156 and low 3-year ROE of 13% suggest capital efficiency concerns at current scale.

Key Fundamentals

MicrocapCars & Utility VehiclesAutomobiles
Market Cap
₹12,148 Cr
Volatility
Moderate
P/E Ratio
69.07
EBITDA
₹330 Cr
Return on Equity
7.95%
Debt to Equity
0.19
Book Value
₹149.56
EPS
₹10.08
52W High
₹1,714.2
52W Low
₹866.6

Technical Indicators

Key Insights

Strengths

3
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 85.4% CAGR over last 5 years
  • Company's median sales growth is 34.3% of last 10 years

Weaknesses

3
  • Stock is trading at 9.98 times its book value
  • Company has a low return on equity of 13.2% over last 3 years.
  • Company has high debtors of 156 days.

Growth Rate

Revenue Growth
27.45% ↗
Net Income Growth
31.36% ↗
Cash Flow Change
-1.63% ↘
ROE
54.08% ↗
ROCE
25.47% ↗
EBITDA Margin (Avg.)
-6.05% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 7d ago
HOLD
Risk high

Olectra Greentech demonstrates strong revenue growth at 28% CAGR over 3 years and impressive 85% profit CAGR over 5 years, positioning it well in India's EV bus segment. However, a PE of 61.9x and PB of 9.05x leave little margin of safety, while high debtor days of 156 and low 3-year ROE of 13% suggest capital efficiency concerns at current scale.

Bull Case 7
  • Compounded profit growth of 85% CAGR over 5 years demonstrates rapid earnings scale-up from a low base
  • TTM sales growth of 28% indicates sustained revenue momentum in the electric bus segment
  • ROE has improved from 11% (5-year average) to 16% last year, showing improving capital efficiency
  • 10-year stock CAGR of 54% reflects long-term wealth creation and market confidence in the EV transition story
  • Median sales growth of 34.3% over last 10 years confirms consistent top-line expansion across cycles
  • Company is expected to deliver a good upcoming quarter based on order execution visibility
  • Market cap of Rs 11,330 Cr positions Olectra as a mid-cap pure-play on India's electric bus adoption policy
Bear Case 8
  • PE ratio of 61.9x is extremely stretched, pricing in several years of flawless execution with no room for disappointment
  • Price-to-book of 9.05x is expensive for a manufacturing business with asset-heavy operations
  • High debtor days of 156 indicate significant working capital lock-up, typical of government contract dependency
  • 3-year average ROE of only 13% is inadequate to justify a 9x book value multiple
  • Zero analyst coverage reported suggests limited institutional scrutiny and potential liquidity risk for large positions
  • Dividend yield of just 0.03% offers virtually no downside protection or income support
  • 5-year ROE average of 11% and 10-year average of just 8% show historically weak return on capital deployed
  • TTM profit growth of 27% is decelerating compared to the 5-year CAGR of 85%, indicating base effect normalization

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Headwinds 3
  • Rising material & power costs May 29

    Cost of material consumed rose 39.93% YoY to ₹464.84 crore and power & fuel expenses surged 200.34% YoY to ₹8.86 crore in Q4 FY26, with total expenses up 35.56% to ₹571.47 crore.

  • Margin compression at scale expected Jun 2

    Management guided EBITDA margins to stabilize at 10-12% at higher volumes, down from current 15.5% in Q4 FY26, indicating margin dilution as production scales toward 2,500 vehicles.

  • Heavy capex commitment ahead Jun 2

    Planned capital expenditure of approximately ₹400 crores over next two years for expansion and new platforms will pressure free cash flows during the scaling phase.

Positives 6
  • Q4 profit surges 164% YoY May 29

    Consolidated net profit rose 164.38% to ₹55.52 crore in Q4 FY26 with revenue up 43.62% to ₹644.72 crore, while EBITDA margin expanded to 15.5% from 12.6% YoY.

  • FY26 deliveries up 32% May 29

    Olectra delivered 1,280 electric vehicles in FY26 versus 972 in FY25, a 32% increase demonstrating operational scale-up with full-year revenue rising 28.3% to ₹2,312.16 crore.

  • Energy division surges 94% May 29

    Energy division revenue surged 93.99% YoY to ₹105.2 crore in Q4 FY26, showing strong diversification beyond the core mobility segment.

  • New bus & truck platforms FY27 Jun 2

    New bus platform launching Q3 FY27 and proprietary truck platform in Q4 FY27, backed by 1,085 next-gen bus orders under PM e-Drive scheme.

  • 2,500 vehicle production target Jun 2

    Company targets approximately 2,500 vehicle production in FY27 with quarter-on-quarter delivery growth, nearly doubling FY26 output of 1,280 units.

  • Insulator division 50%+ growth Jun 2

    Insulator Division projected to achieve over 50% revenue growth in FY27 through targeted capacity investment, adding another growth lever.

Neutral 3
  • Investor roadshow Jun 24-25 Jun 20

    Management will attend a non-deal physical roadshow on June 24-25, 2026, covering publicly available information with no new material disclosures expected.

  • FY26 results call hosted May 27

    Olectra hosted a conference call on June 1, 2026, facilitated by Nomura, to discuss audited FY26 financial results.

  • Final dividend of ₹0.60/share May 29

    Board recommended a final dividend of ₹0.60 per equity share of face value ₹4 for FY26, payable within 30 days of AGM approval.

TL;DR: Olectra Greentech is firing on all cylinders with 164% Q4 profit growth, 32% higher EV deliveries, and a rapidly growing energy division. The company is aggressively scaling toward 2,500 vehicles in FY27 with new bus and truck platforms. Key risks include margin compression at higher volumes (guided 10-12% vs current 15.5%) and ₹400 crore capex commitments. The trend is strongly improving with execution accelerating, though investors should watch whether volume growth compensates for expected margin normalization.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
376
216
307
342
289
314
524
515
449
347
657
664
645
Expenses
326
176
267
293
254
270
442
436
395
299
568
570
545
Operating Profit
50
40
41
49
34
44
81
79
54
48
89
93
100
OPM %
13%
19%
13%
14%
12%
14%
16%
15%
12%
14%
14%
14%
15%
Other Income
2
1
5
7
8
7
4
3
5
8
4
4
7
Interest
8
7
10
13
13
10
11
11
20
12
14
20
15
Depreciation
9
9
9
9
10
9
10
9
10
10
11
13
11
PBT
35
25
27
34
20
32
65
62
29
34
68
64
80
Tax %
22%
28%
30%
20%
26%
24%
26%
25%
29%
23%
28%
27%
28%
Net Profit
28
18
19
27
15
24
48
47
21
26
49
47
57
EPS in Rs
3.29
2.2
2.2
3.29
1.67
2.92
5.79
5.64
2.56
3.17
6.04
5.65
6.76
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
92
93
105
161
170
201
281
593
1,091
1,154
1,802
2,312
Expenses
75
75
85
148
185
195
261
509
949
988
1,540
1,982
Operating Profit
17
18
20
14
-15
5
20
85
141
166
262
330
OPM %
18%
20%
19%
9%
-9%
3%
7%
14%
13%
14%
15%
14%
Other Income
1
1
1
7
15
44
11
6
13
20
14
22
Interest
6
6
6
6
15
14
8
9
31
43
51
61
Depreciation
6
5
2
3
7
18
13
29
33
37
37
45
PBT
6
8
13
12
-22
17
11
52
89
106
188
246
Tax %
23%
29%
36%
25%
-28%
22%
26%
32%
25%
26%
26%
27%
Net Profit
5
6
8
9
-16
14
8
35
67
79
139
180
EPS in Rs
1.37
1.61
2.33
1.77
-1.99
1.65
0.98
4.31
7.99
9.36
16.92
21.62
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
9%
5%
4%
2%
3%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
14
14
14
20
32
33
33
33
33
33
33
33
Reserves
66
72
52
178
671
700
708
744
807
881
1,016
1,195
Borrowings
45
55
65
72
24
30
8
67
134
121
255
380
Other Liabilities
38
33
32
45
136
219
185
346
583
554
867
959
Total Liabilities
164
174
163
315
863
981
934
1,190
1,557
1,589
2,171
2,567
Fixed Assets
79
76
61
72
173
151
290
325
356
330
355
574
CWIP
19
19
11
6
0
0
0
3
4
72
187
82
Investments
0
0
0
0
102
0
0
0
2
11
73
94
Other Assets
66
79
91
237
589
831
645
862
1,195
1,175
1,557
1,817
Total Assets
164
174
163
315
863
981
934
1,190
1,557
1,589
2,171
2,567
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
5
-14
-9
-107
-130
-219
209
121
-10
143
141
104
Investing
5
5
-6
-19
-307
199
-177
-164
-38
-86
-225
-167
Financing
-6
10
15
126
457
0
-22
50
35
-56
83
67
Net Cash Flow
3
0
0
0
20
-19
10
7
-13
1
-1
4
Free Cash Flow
8
-11
-14
-116
-231
-206
49
54
-75
64
-36
-55
CFO/OP
32
-62
-23
-724
843
-4,288
1,043
146
6
103
59
46
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
137
175
126
199
195
658
342
225
211
162
140
156
Inventory Days
106
107
128
209
319
274
127
51
63
96
79
51
Days Payable
142
123
72
90
339
645
284
235
195
172
181
153
Cash Conversion Cycle
101
158
183
317
175
288
185
40
79
86
38
54
Working Capital Days
-9
79
-86
198
544
871
399
157
105
115
85
73
ROCE %
10%
11%
14%
9%
-1%
2%
2%
8%
13%
15%
21%
21%

Shareholding Pattern

As of Mar 2026
Promoters 50.02%
Public 36.90%
FIIs 7.11%
Others 5.30%
DIIs 0.68%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
55.67%
55.61%
51.74%
51.62%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
50.02%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
8.01%
7.79%
8.58%
7.61%
5.64%
5.69%
5.38%
5.66%
7.05%
6.90%
7.11%
DIIs
0.04%
0.80%
0.04%
0.04%
0.04%
0.04%
0.04%
0.09%
0.10%
0.11%
0.13%
0.15%
0.17%
0.19%
0.27%
0.30%
0.44%
0.48%
0.68%
0.82%
0.68%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
30.63%
29.76%
30.00%
30.39%
31.51%
33.47%
32.42%
32.98%
33.55%
34.39%
36.31%
36.62%
36.05%
37.80%
38.83%
39.10%
39.43%
39.56%
36.54%
37.04%
36.90%
Others
13.65%
13.83%
18.21%
17.96%
18.44%
16.48%
17.53%
16.91%
16.33%
15.49%
5.53%
5.42%
5.18%
4.39%
5.25%
4.90%
4.73%
4.29%
5.72%
5.23%
5.30%
No. of Shareholders
42,204
46,264
59,583
94,018
1,18,717
1,29,448
1,32,567
1,43,707
1,60,796
1,98,035
3,42,955
3,59,083
4,33,012
4,83,162
5,01,280
4,99,736
5,24,783
5,22,281
4,60,134
4,53,110
4,56,911

Documents

Frequently Asked Questions about Olectra Greentech Ltd

What does Olectra Greentech Ltd do?
Olectra Greentech Limited was incorporated in 2000 . The Company is primarily engaged in the manufacturing of composite polymer insulators and electrical buses. Its registered office is in Hyderabad. [1] [2]
Where is Olectra Greentech Ltd (OLECTRA) listed?
Olectra Greentech Ltd is listed on the Indian stock exchanges. It is listed on NSE: OLECTRA and BSE: 532439. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Olectra Greentech Ltd belong to?
Olectra Greentech Ltd operates in the Consumer Discretionary sector within the Automobiles industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Olectra Greentech Ltd?
Olectra Greentech Ltd has a market capitalisation of approximately ₹12147.95 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Olectra Greentech Ltd?
The Price-to-Earnings (PE) ratio of Olectra Greentech Ltd is 69.07. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Olectra Greentech Ltd?
Over the past 52 weeks, Olectra Greentech Ltd has traded between a low of ₹866.6 and a high of ₹1,714.2. This range helps investors understand the stock's price volatility and recent trading levels.
Does Olectra Greentech Ltd pay dividends?
Yes, Olectra Greentech Ltd has a dividend yield of 0.03%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Olectra Greentech Ltd?
Olectra Greentech Ltd has a Return on Equity (ROE) of 7.95%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Olectra Greentech Ltd on Tapetide?
On Tapetide, you can view Olectra Greentech Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Olectra Greentech Limited was incorporated in 2000 . The Company is primarily engaged in the manufacturing of composite polymer insulators and electrical buses. Its registered office is in Hyderabad. [1] [2]

Website olectra.com
CEO Mr. Mahesh Babu Subramanian
Employees 801
Listed 2002-03-20
Face Value ₹ 4
Issued Size 8,20,80,737

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