Olectra Greentech (532439) Q4 25/26 earnings summary

Executive summary

• Achieved record consolidated revenue of ₹2,31,217 lakhs in FY26, up 28% year-over-year, with strong growth in both Mobility (EVs) and Energy (insulators) divisions.

• Delivered 1,280 electric vehicles in FY26, a 32% increase over FY25, maintaining leadership in the Indian EV bus market and introducing Blade Battery technology.

• Maintained robust profitability with highest ever EBITDA, PAT, and operating margins, despite supply chain and geopolitical challenges.

• Expanded manufacturing capacity with a new greenfield facility, supporting increased deliveries and a strong order book of approximately 10,000 vehicles.

• Audited consolidated and standalone financial results for FY26 were approved by the Board with unqualified audit opinions.

Financial highlights

• Consolidated revenue reached ₹2,31,217 lakhs, up 28% year-over-year; EBITDA rose to ₹35,228 lakhs, a 27% increase; PAT at ₹17,953 lakhs, up 29%.

• Q4 FY26 revenue up 44% year-over-year; EBITDA up 82% for the quarter.

• EPS increased to ₹21.62 from ₹16.92 in FY25.

• Dividend of ₹0.60 per share recommended for FY26, subject to shareholder approval.

• Q4 deliveries were 359 buses, all electric, with 40-50% using Blade Battery technology.

Outlook and guidance

• Targeting delivery of 2,500 vehicles in FY27, with quarter-on-quarter growth expected.

• Insulator (energy) division expected to grow revenues by over 50% in FY27.

• EBITDA margin guidance set between 12% and 15% as volumes scale.

• New bus platform launch planned for Q3 FY27; truck platform for Q4 FY27.

• Focus on leveraging manufacturing scale, R&D, and expanding into new geographies and adjacent EV markets.