Olectra Greentech EV deliveries surge 32 percent profit rises by 29% in FY26

Olectra Greentech delivered 1,280 electric vehicles in FY2025-26, marking a 32% increase from 972 units in FY25. The company reported a 29% year-on-year rise in net profit to Rs 179.53 crore, up from Rs 139.21 crore the previous year. This growth was driven by higher electric bus deliveries and expansion in its energy business.

Key Highlights

• Olectra Greentech delivered 1,280 electric vehicles in FY2025-26, up 32 percent from previous year
• Net profit rose 29 percent to Rs 179.53 crore, with revenue increasing 28 percent to Rs 2,312.17 crore
• Cumulative EV deliveries reached 3,998 units and order book stood at 10,161 electric vehicles
• Quarterly profit after tax increased 177 percent to Rs 57.39 crore in the March quarter

Financial Performance Overview

Olectra Greentech's revenue for FY2025-26 rose 28% to Rs 2,312.17 crore, compared to Rs 1,801.9 crore a year earlier. EBITDA increased 27% to Rs 352.28 crore from Rs 276.32 crore. Profit before tax grew 31% to Rs 246.14 crore. The company achieved its highest annual electric vehicle deliveries since inception. Earnings per share rose 28% to Rs 21.62.

For the March quarter, revenue increased 44% year-on-year to Rs 644.72 crore. EBITDA for the quarter rose 82% to Rs 106.2 crore. Quarterly profit after tax jumped 177% to Rs 57.39 crore.

Operational Highlights and Business Growth

As of March 31, 2026, Olectra Greentech's cumulative electric vehicle deliveries reached 3,998 units. The company reported an order book of 10,161 electric vehicles. Managing Director Mahesh Babu stated that growth across mobility and energy businesses, operational discipline, and sustained customer demand supported the company’s performance. He noted that the energy division recorded a near doubling of growth over the previous year.

Olectra Greentech, based in Hyderabad and part of the MEIL Group, manufactures electric buses and electric tippers for public transport in India. The company plans to enforce a 70% domestic component baseline for future models. It also aims to deploy investments ranging from Rs 3,000 to Rs 4,000 crore for upcoming projects.

Industry Context and Expansion Plans

Olectra Greentech continues to expand its presence in the Indian electric mobility sector. The company’s focus on domestic manufacturing aligns with government initiatives to boost local production. Its growing order book and investments indicate ongoing demand for electric buses and tippers in public transport.

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CarBike 360 Says

Olectra Greentech’s strong FY26 performance highlights the accelerating shift toward electric public transport in India. With rising demand for eco-friendly mobility and continued government support, the company is well-positioned to sustain its growth momentum. Its expanding order book and execution capabilities could further strengthen its leadership in the electric bus segment in the coming years.