Olectra Greentech Reports Q1 FY24 Results: Standalone Net Profit at Rs 18.70 Crore

1 min read     Updated on 06 Sept 2025, 11:16 AM
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Ashish ThakurScanX News Team
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Overview

Olectra Greentech Limited announced its Q1 FY24 results, showing a mixed performance. While standalone net profit slightly decreased by 0.59% to Rs 18.70 crore, consolidated net profit grew by 8.33% to Rs 18.07 crore. However, revenue declined both on standalone (32.38% decrease to Rs 206.02 crore) and consolidated (23.14% decrease to Rs 216.02 crore) basis. Quarter-on-quarter comparison showed declines across key financial metrics, with revenue down 22.46% and net profit down 7.82% compared to Q4 FY23.

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*this image is generated using AI for illustrative purposes only.

Olectra Greentech Limited, a leading player in the electric vehicle and insulator manufacturing sector, has announced its financial results for the first quarter of the fiscal year 2024. The company's performance shows a mixed picture with some segments experiencing growth while others faced challenges.

Standalone Performance

On a standalone basis, Olectra Greentech reported a net profit after tax of Rs 18.70 crore for Q1 FY24, compared to Rs 18.81 crore in the same quarter last year, marking a marginal decrease of 0.59%. The company's revenue from operations saw a significant decline, dropping to Rs 206.02 crore from Rs 304.67 crore year-over-year, representing a 32.38% decrease.

Consolidated Results

The consolidated financial results paint a slightly different picture:

  • Net profit after tax increased to Rs 18.07 crore, up from Rs 16.68 crore in the previous year's quarter, showing a growth of 8.33%.
  • Revenue decreased to Rs 216.02 crore from Rs 281.07 crore, indicating a 23.14% reduction.

Segment-wise Operations

Olectra Greentech operates in three key segments:

  1. Insulator Division
  2. E-Bus Division
  3. E-Truck Division

Financial Highlights

  • Earnings per share (EPS) for standalone results remained stable at Rs 2.28.
  • The board meeting to approve these unaudited financial results was held on August 7, 2023.

Quarterly Performance Comparison

Comparing the current quarter's performance with the previous quarter:

Metric (in Rs crore) Q1 FY24 Q4 FY23 QoQ Change
Revenue 342.90 442.20 -22.46%
EBITDA 49.20 56.50 -12.92%
Net Profit 22.40 24.30 -7.82%
Operating Profit 43.90 52.30 -16.06%

The quarter-on-quarter comparison reveals a decline across key financial metrics, which aligns with the year-over-year decrease in revenue reported in the company's announcement.

Market Position and Outlook

Despite the challenges faced in revenue generation, Olectra Greentech's ability to maintain profitability, especially on a consolidated basis, demonstrates the company's resilience. The electric vehicle sector, particularly the e-bus and e-truck segments, continues to be a focus area for the company as India pushes for greener public transportation solutions.

As the market for electric vehicles in India evolves, Olectra Greentech's diverse operations across insulators and electric vehicles position it to capitalize on various growth opportunities in the coming quarters.

Historical Stock Returns for Olectra Greentech

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Olectra Greentech Poised for Growth as Delhi CM Proposes Electric School Buses

2 min read     Updated on 26 Aug 2025, 02:40 PM
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Jubin VergheseScanX News Team
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Overview

Delhi's Chief Minister has proposed using electric school buses to reduce pollution, potentially benefiting electric vehicle manufacturers like Olectra Greentech. Olectra, preparing for its 25th AGM on September 27, announced key decisions including a book closure from September 21-27, e-voting period from September 24-26, and consideration of a 10% dividend. The company also approved the appointment of M/s. VCSR & Associates as Secretarial Auditors for five years, subject to shareholder approval.

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*this image is generated using AI for illustrative purposes only.

In a move that could potentially benefit electric vehicle manufacturers like Olectra Greentech , Delhi's Chief Minister has proposed the use of electric school buses as a measure to reduce pollution in the city. This development comes at a time when Olectra Greentech, a key player in the electric vehicle sector, is preparing for its upcoming Annual General Meeting (AGM) and making strategic appointments.

Delhi's Push for Cleaner Transportation

The proposal to introduce electric school buses in Delhi is part of the city's broader efforts to combat air pollution, a persistent problem in the national capital. If implemented, this initiative could create significant opportunities for companies specializing in electric buses, such as Olectra Greentech.

Olectra Greentech's Strategic Positioning

Olectra Greentech, known for its involvement in the electric vehicle sector, stands to potentially benefit from such initiatives. The company's expertise in manufacturing electric buses could position it as a strong contender for any future contracts related to the Delhi government's proposal.

Corporate Governance and Future Plans

While the market anticipates the potential impact of Delhi's proposal, Olectra Greentech is moving forward with its corporate governance activities. The company recently announced several key decisions made during its Board Meeting:

  1. Annual General Meeting: The 25th AGM is scheduled for September 27, to be conducted through video conferencing.

  2. Book Closure: The Register of Members will be closed from September 21 to September 27 for the AGM purposes.

  3. E-Voting Period: Shareholders can participate in e-voting from September 24 to September 26.

  4. Dividend Consideration: A record date of September 20 has been set for the potential payment of a final dividend at the rate of 10% (Rs. 0.40 per equity share of Rs. 4 each) for the financial year ended March 31, subject to shareholder approval.

  5. Appointment of Secretarial Auditors: The Board has approved the appointment of M/s. VCSR & Associates as Secretarial Auditors for a five-year term, pending shareholder approval at the AGM.

Looking Ahead

As Olectra Greentech prepares for its AGM and potential dividend distribution, the company may find itself in a favorable position to capitalize on the growing demand for electric vehicles in urban areas. The Delhi government's proposal for electric school buses, if implemented, could serve as a catalyst for similar initiatives in other cities, potentially opening up new markets for electric vehicle manufacturers.

While the immediate impact of Delhi's proposal on Olectra Greentech remains to be seen, the company's ongoing corporate activities and strategic positioning in the electric vehicle sector suggest it is preparing for future growth opportunities in the evolving landscape of sustainable urban transportation.

Historical Stock Returns for Olectra Greentech

1 Day5 Days1 Month6 Months1 Year5 Years
-0.83%-0.55%-2.25%+30.35%-9.69%+2,370.18%
Olectra Greentech
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