Olectra Greentech , a leading manufacturer of electric buses in India, has announced its intention to participate in the PM E-Drive tender for 10,900 electric buses. The tender, valued at approximately ₹10,900 crore, represents a significant opportunity for the company to expand its footprint in the rapidly growing electric vehicle market.

Tender Details

The PM E-Drive tender, aimed at promoting electric mobility in public transportation, seeks to procure 10,900 electric buses for various state transport undertakings (STUs) across India. With each bus valued at around ₹1 crore, the total tender amount stands at ₹10,900 crore.

Olectra's Strategic Position

Olectra Greentech is well-positioned to compete for this substantial tender, given its extensive experience and capabilities in the electric bus segment:

• Manufacturing Capacity: The company recently established a greenfield electric vehicle manufacturing plant with an initial capacity of 5,000 electric vehicles per year, scalable to 10,000 units annually.
• Product Range: Olectra offers a diverse portfolio of electric buses, including 7-meter, 9-meter, and 12-meter models, catering to various urban and inter-city transportation needs.
• Market Presence: With over 2,800 electric vehicles already on Indian roads, Olectra has a strong track record in delivering and operating electric buses.
• Clean Kilometers: The company's electric vehicles have collectively covered over 440 million clean kilometers, demonstrating their reliability and environmental impact.

Financial Strength

Olectra Greentech's robust financial performance positions it well for taking on large-scale projects:

• Order Book: As of the latest report, Olectra's order book exceeds 10,000 units, indicating strong market demand for its products.

Industry Outlook

The PM E-Drive tender aligns with India's push towards electric mobility and sustainable public transportation. As cities and states increasingly adopt electric buses to reduce emissions and operating costs, manufacturers like Olectra Greentech stand to benefit significantly.

Conclusion

Olectra Greentech's decision to participate in the PM E-Drive tender for 10,900 electric buses worth ₹10,900 crore underscores the company's ambition to maintain its leadership position in India's electric bus market. With its expanded manufacturing capabilities, diverse product range, and strong financial foundation, Olectra is well-equipped to compete for this substantial government initiative. The outcome of this tender could significantly impact the company's growth trajectory and further solidify its role in India's transition to electric public transportation.

Olectra Greentech Limited, a leading manufacturer of electric buses in India, has reported a solid performance for the first quarter. The company's consolidated revenue grew by 10.6% year-over-year, reaching INR 347.22 crore, up from INR 313.94 crore in the same quarter last year.

EV Division Performance

The company's Electric Vehicle (EV) division, which is the primary focus of Olectra's operations, generated revenue of INR 292.24 crore in Q1. This represents a 5.7% increase compared to the previous year. The division sold 161 vehicles during the quarter, slightly up from 156 units in the same period last year, indicating steady progress in the electric vehicle market.

Insulator Division Shows Strong Growth

While the EV division showed moderate growth, Olectra's insulator division demonstrated remarkable performance. The division reported revenue of INR 54.98 crore, marking a significant 46.6% year-over-year increase. Moreover, the EBITDA margin for this segment improved to an impressive 34.6%, highlighting the division's profitability and operational efficiency.

Financial Highlights

The company's consolidated EBITDA for the quarter stood at INR 56.94 crore, with an EBITDA margin of 16.4%. Olectra Greentech reported a profit after tax of INR 26.03 crore for Q1.

Market Position and Future Outlook

Olectra Greentech continues to strengthen its position in the electric vehicle market. The company has over 2,800 electric vehicles operating on Indian roads, demonstrating its significant presence in the sector. With a robust order book of more than 10,000 units, Olectra is well-positioned for future growth.

The company operates a state-of-the-art manufacturing facility with an annual capacity of 5,000 units, which is scalable to 10,000 units. This production capability puts Olectra in a strong position to meet the growing demand for electric vehicles in India.

Conclusion

Olectra Greentech's Q1 results reflect the company's resilience and growth potential in the electric vehicle market. While the EV division shows steady progress, the strong performance of the insulator division contributes significantly to the overall growth. With a solid order book and expanded manufacturing capabilities, Olectra Greentech appears well-equipped to capitalize on the increasing adoption of electric vehicles in India.

As the country continues to push for cleaner transportation solutions, Olectra's position as a leading electric bus manufacturer could play a crucial role in shaping the future of sustainable mobility in India.