Olectra Greentech Reports Mixed Q2 Results: EV Revenue Up 20.5%, Insulator Division Shines

Olectra Greentech Limited , a leading player in the electric vehicle (EV) and insulator manufacturing sectors, has released its financial results for the quarter ended September 30, 2025, showcasing a mixed performance across its business segments.

EV Division Performance

The company's EV division, which forms the core of its operations, reported a significant revenue increase of 20.5% year-over-year. Revenue for Q2 FY26 stood at Rs 58,125.00 lakhs, up from Rs 48,247.00 lakhs in the same quarter of the previous year. However, the division faced challenges in maintaining its profitability, with EBITDA margins compressing from 15.3% to 11.4%.

Insulator Division Excels

In contrast to the EV segment, Olectra's insulator division demonstrated robust growth and improved profitability:

Revenue surged by 82.9% to Rs 7,537.00 lakhs, compared to Rs 4,121.00 lakhs in Q2 FY25
EBITDA margins expanded significantly from 28.5% to 35.3%

Consolidated Financial Highlights

Metric	Q2 FY26	Q2 FY25	YoY Change
Revenue	65,662.00	52,367.00	25.4%
EBITDA	9,301.00	8,569.00	8.5%
EBITDA Margin	14.2%	16.4%	-220 bps

Operational Performance

Olectra sold 536 electric vehicles in the first half of FY26, compared to 471 in the same period last year
The company has delivered over 9,818 electric vehicles on Indian roads to date
Current order book stands at over Rs 3,000.00 crores

Manufacturing Capacity

Olectra operates a manufacturing facility in Hyderabad with an annual capacity of 5,000 units, which can be scaled up to 10,000 units.

Looking Ahead

As Olectra Greentech continues to navigate the evolving EV market in India, investors and analysts will likely keep a close eye on the company's ability to balance growth with profitability. The strong performance of the insulator division may provide some cushion as the company works to optimize its EV operations.

Note: All financial figures are in accordance with the investor presentation released by Olectra Greentech Limited for the quarter ended September 30, 2025.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.08%	-2.53%	-18.27%	-0.52%	-21.05%	+1,561.38%

Olectra Greentech , a leading electric bus manufacturer in India, has set ambitious delivery targets for the fiscal year 2026 (FY26) while reporting robust financial performance for the first half of the year. The company's Managing Director, Mahesh Babu, outlined the firm's growth plans and recent achievements.

Delivery Targets and Current Operations

Olectra Greentech aims to deliver approximately 2,000 vehicles in FY26, marking a slight increase from the nearly 1,900 vehicles delivered in the previous financial year. The company currently operates in 35-40 cities across India, with over 3,000 electric vehicles on the road and about 100 trucks in operation.

Financial Performance

The company has reported strong financial results for the first half of FY26:

Metric	Performance
H1 FY26 Revenue	Over Rs 1,000.00 crore (Best-ever H1 performance)
Latest Quarter Net Profit	Rs 49.50 crore (4.2% YoY increase)
Latest Quarter Revenue	Rs 657.00 crore (25.4% YoY increase)

The significant jump in revenue for both the half-year and the latest quarter underscores the company's growing market presence and operational efficiency.

Challenges and Future Outlook

Despite the positive performance, Olectra Greentech faces some challenges in its expansion efforts:

Depot readiness at deployment locations
Availability of power infrastructure

These factors could potentially impact the company's ability to meet its delivery targets and expand operations smoothly.

As Olectra Greentech continues to grow its presence in the electric vehicle market, particularly in the bus segment, its performance will be closely watched by investors and industry observers alike. The company's ability to navigate challenges while capitalizing on the increasing demand for electric vehicles in India will be crucial for its future success.