Olectra Greentech Ltd (NSE:OLECTRA) closed at ₹1,058.70 on February 3, 2026, down 1.74% from the previous close of ₹1,077.40, following Q3 FY26 results released on February 2 that delivered revenue growth of 28.8% year-on-year to ₹663.6 crore but flat net profit of ₹46.67 crore with EBITDA margins narrowing to 14% amid rising input costs and execution pressures.
Quarterly Results
Olectra Greentech Limited reported consolidated revenue of ₹66,360 Lakhs for the third quarter ended December 31, 2025, representing a 28.8% increase compared to ₹51,537 Lakhs in the same period of the previous fiscal year. Consolidated EBITDA for the group grew by 19% to reach ₹9,710 Lakhs, up from ₹8,177 Lakhs in Q3 FY25. Profit Before Tax for the quarter stood at ₹6,407 Lakhs, a 3.4% increase.
The electric vehicle division contributed ₹57,402.9 Lakhs to quarterly revenue. The insulator division recorded revenue of ₹8,957.1 Lakhs, a 90.4% rise compared to Q3 FY25. EBITDA margins for the insulator division improved to 33.9%.
Annual Performance Context
Olectra Greentech maintained a revenue compound annual growth rate of 45% between FY22 and FY25. Total annual revenue reached ₹180,190 Lakhs in FY25, compared to ₹115,414 Lakhs in FY24. Profit After Tax grew by 58% during the FY22-FY25 period, with the FY25 figure recorded at ₹13,921 Lakhs.
Vehicle delivery volume transitioned from 259 units in FY22 to 972 units in FY25. Return on Capital Employed rose from 7.6% in FY22 to 19.2% in FY25. Market capitalization stands at approximately ₹98+ Billion.
Business and Operations Update
Incorporated in 2000, Olectra’s portfolio includes 135+ variants across electric bus models, tippers, and coach buses. Currently, over 3,600 electric vehicles are on Indian roads, completing over 50 crore clean kilometers. The established order book exceeds 9,400 units.
The company operates a greenfield plant in Hyderabad with an initial capacity of 5,000 units per year, scalable to 10,000 units. The company introduced the Blade Battery platform during Auto Expo ’25 to address safety and efficiency. Milestones include securing a 5,150-bus order, categorized as the world’s largest electric bus order.
Forward Outlook
The company acquired 150 acres from the Telangana State Industrial Infrastructure Corporation for infrastructure development. Future objectives include expansion into adjacent electric vehicle market segments and new geographical regions. Olectra continues to participate in large-scale electric bus procurement programs through active participation in CESL tenders. The company emphasizes Research and Development and product line strengthening.
Performance Summary
For the first nine months of FY26, consolidated revenue reached ₹166,745 Lakhs, a 23.2% increase over the ₹135,298 Lakhs in FY25. Nine-month EBITDA rose by 13% to reach ₹24,608 Lakhs. Consolidated Profit Before Tax for the nine-month period ended December 31, 2025, was ₹16,633 Lakhs, a 5% increase year-over-year. Nine-month Profit After Tax stood at ₹12,213.7 Lakhs.
Total equity as of September 30, 2025, was ₹112,559.05 Lakhs, compared to ₹98,522.92 Lakhs a year prior. Non-current assets totaled ₹80,651.82 Lakhs on that date. Net cash used in investing activities for the six months ended September 30, 2025, was ₹5,009.15 Lakhs. Property, plant, and equipment assets were valued at ₹39,050.66 Lakhs.