Olectra Greentech Limited was incorporated in 2000 and is primarily engaged in the manufacturing of composite polymer insulators and electrical buses. The company's registered office is located in Hyderabad, and it has established itself as a pioneering force in India's electric mobility sector. The company was formerly known as Goldstone Infratech Limited and changed its name to Olectra Greentech Limited in July 2018.
Olectra Greentech Ltd is a pioneer in electric bus manufacturing and insulators in India, and has been a part of building the Power Transmission and distribution infrastructure. The company's vision to support the environment has led to developing innovative solutions for society.
The company operates primarily through its E-Vehicle Division, which accounts for 91% of revenue in 9M FY25 compared to 82% in FY22. Olectra is India's largest pure electric bus manufacturer, offering e-bus models like 7m, 9m, and 12m, including inter-city coach variants. The company is broadening its product portfolio in the e-mobility sector by introducing electric trucks and tippers.
The company's range of insulators includes transmission and distribution composite insulators such as 10-15 kilovolts (KV), 22-28 KV, 33-36 KV, 52-77 KV, 110-132 KV, 220-245 KV, and 330-420 KV; and insulators for railways such as 25 KV 9 Ton Insulators, 25 KV Bracket Tube Insulators, and 25 KV Stay Arm Insulators. The company's EVs include v2 Electric Bus, iX Electric Bus, X2 Electric Bus, CX2 Electric Coach Bus and Meghaetron Electric Tipper.
The company's manufacturing facilities are located at Cherlapally, Hyderabad; Mahbubnagar, Telangana; and Sangareddy District, Telangana. As of 9M FY25, the company has delivered about 2,448 electric buses and 51 electric tippers, covering 30+ crore kilometers across the length and breadth of the country.
Olectra serves state and central government bodies across cities like Pune, Mumbai, Hyderabad, and others, including MSRTC, BEST, PMPML, and TSRTC. The company operates more than 1000 electric buses commercially in India. It serves state and central government bodies, power generation and distribution corporations, private power generation companies, and multinational infrastructure companies.
As of the latest available data, Olectra Greentech has a market capitalization of ₹9,845 Crore with revenue of ₹1,802 Crore and profit of ₹139 Crore. The company maintains a promoter holding of 50.0%.
Key Financial Highlights:
- For the full year ended March 2025, net profit rose 80.78% to ₹138.89 Crore compared to ₹76.83 Crore in the previous year, while sales rose 56.12% to ₹1,801.90 Crore from ₹1,154.14 Crore.
- Net profit for Q4 FY25 rose 53.17% to ₹21.00 Crore, with sales increasing 55.44% to ₹448.92 Crore.
- Net profit for Q3 FY25 rose 71.66% to ₹46.33 Crore, with sales increasing 50.63% to ₹515.37 Crore.
- The Board of Directors recommended a final dividend of ₹0.40 per equity share for FY 2024-25.
In July 2025, the company underwent a leadership change with the Chairman & MD resigning and a new Chairman and Whole Time Director being appointed. The company has received a Letter of Award from Himachal Road Transport Corporation (HRTC) for supply and maintenance of 297 Electric Buses worth ₹424.01 Crore.
Despite facing challenges, including order cancellations by the Maharashtra government, the company has seen the reinstatement of orders for 5,150 electric buses with revised delivery timelines.
The Indian government's favorable policies, including subsidies and incentives for electric vehicle manufacturers and customers, have accelerated EV adoption, positioning Olectra Greentech well to capitalize on these trends given its established presence and continuous innovation in the sector. The company shares are in focus following a government tender for 10,900 electric buses under the PM e-Bus Sewa scheme, enhancing revenue visibility for fleet providers.
The company operates in a rapidly growing sector with strong government support for electric mobility solutions. Revenue is forecast to grow 49% per annum on average during the next 2 years, compared to a 21% growth forecast for the Electrical industry in India.
Olectra Greentech stands as a significant player in India's transition toward sustainable transportation, combining its established expertise in electrical infrastructure with innovative electric vehicle manufacturing capabilities.
