Electric Vehicles Manufacturing / Green Transportation
Strategic Profile
The E-Vehicle Division accounts for 91% of revenue (9M FY25), while the company is broadening its product portfolio in the e-mobility sector by introducing electric trucks and tippers. It serves state and central government bodies across cities like Pune, Mumbai, Hyderabad, and others, including MSRTC, BEST, PMPML, and TSRTC. This positions Olectra as a key player in India's transition to sustainable public transportation.
Cyborg Score Rationale
Revenue is up for the last 2 quarters, 355.36 Cr to 660.95 Cr, with an average increase of 46.2% per quarter, and net profit has risen from 21.0 Cr to 49.55 Cr with an average increase of 33.4% per quarter. However, the stock has decreased by 28.67% over the past 6 months and 18.05% over the past year, indicating recent valuation corrections despite strong fundamentals.
Top Insights
Company has delivered 2,448 electric buses with cumulative coverage of 30+ Crore kilometers, demonstrating proven manufacturing and operational scale
E-Vehicle division represents 91% of revenue in 9M FY25, marking a shift from historical insulator business focus
Sequential revenue and net profit growth accelerating rapidly at 46.2% and 33.4% respectively per quarter
Market capitalization stands at ₹9,148.72 Cr (as of January 16, 2026), with recent pullback from 52-week high
Named Competitors
Electric Buses — Global EV manufacturers entering Indian market
Electric Buses — Converting internal combustion portfolios to electric variants
Insulators — Legacy insulator business competes with traditional manufacturers
Recent Developments
(February 2026) Appointed K.N.M. Rao as VP Product Development (e-Bus); Suhas Athma as VP-Human Resource
(February 2026) Q3 FY25-26 earnings call held with investor participation
(January 2026) Continued robust revenue growth with Q2 FY25-26 net profit at ₹49.55 Cr, up 4.18% YoY
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