Olectra Greentech (532439) Q1 25/26 earnings summary

Executive summary

• Achieved steady growth in consolidated revenue and profitability in Q1 FY26, with 2,879 electric vehicles delivered to date, including 2,812 electric buses and 67 electric tippers.

• Company ranks in the top two for cumulative electric bus deliveries in India and maintains a strong order book of 10,193 electric vehicles as of June 30, 2025.

• 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.

Significant events and developments

• Unveiled Blade Battery technology at Bharat Mobility Global Expo 2025; homologation in advanced stage, with commercialization planned from Q3 FY25-26.

• Blade Battery offers 30% better performance, lighter weight, and faster charging, with the 12-meter bus model expected to achieve a 400 km range.

• Awarded world’s largest e-bus order of 5,150 buses.

• Achieved 44+ crore clean kilometers, reducing diesel consumption by 135.4 million liters and CO2 emissions by 362.8 million kg.

• Board is actively working to appoint a new CEO, with updates to be notified to stock exchanges.

Financial highlights

• Q1 FY26 consolidated revenue: ₹34,722.35 lakhs, up 11% year-over-year; EBITDA: ₹5,597 lakhs, up 11% year-over-year.

• Profit after tax for Q1 FY26: ₹2,602.77 lakhs, up from ₹2,068.68 lakhs in Q1 FY25.

• FY25 revenue from operations reached ₹180,190 lakhs, up 56% year-over-year; adjusted EBITDA for FY25 was ₹27,632 lakhs, a 49% increase.

• Interest cost decreased by ~30% due to lower discounting costs and lighter working capital requirements.

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