Olectra Greentech , a leading player in the electric vehicle sector, has announced a significant new contract win, bolstering its position in the growing electric bus market in India.

Contract Details

Olectra Greentech has received a Letter of Award (LOA) from Himachal Road Transport Corporation (HRTC) for the supply and maintenance of 297 electric buses. The contract, valued at ₹424.00 crore, marks a substantial milestone for the company in its efforts to expand its footprint in the sustainable transportation sector .

Implications for Olectra Greentech

This latest contract underscores Olectra Greentech's growing prominence in the electric bus market and its ability to secure large-scale orders from state transport corporations. The deal is expected to contribute significantly to the company's order book and future revenue streams.

Market Impact

The news of this contract win is likely to be viewed positively by investors and market analysts, as it demonstrates the company's competitive edge in the rapidly evolving electric vehicle industry. It also aligns with the Indian government's push towards electric mobility and sustainable transportation solutions.

Company Compliance

In a recent filing dated April 10, 2025, Olectra Greentech confirmed its compliance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2025. This compliance certification, issued by M/s. Aarthi Consultants Private Limited, the company's Registrar and Transfer Agent, affirms Olectra Greentech's adherence to regulatory requirements, which is crucial for maintaining investor confidence.

Conclusion

The ₹424.00 crore contract from HRTC represents a significant opportunity for Olectra Greentech to strengthen its market position and contribute to the electrification of public transportation in India. As the company continues to secure such high-value contracts, it is poised to play a pivotal role in the country's transition to greener mobility solutions.

Olectra Greentech Limited has clinched a significant contract worth ₹424.01 crore from the Himachal Road Transport Corporation (HRTC) for the supply and maintenance of 297 electric buses. This development marks a substantial step forward in India's push towards sustainable public transportation.

Contract Details

Key Highlights

• Olectra Greentech received the Letter of Award (LOA) from HRTC, confirming the contract.
• The order involves the supply of electric buses on an outright sale basis, along with their maintenance.
• This domestic contract aligns with India's efforts to promote electric mobility and reduce carbon emissions in the public transport sector.

Company Disclosure

In compliance with SEBI regulations, Olectra Greentech has officially disclosed the contract details to the stock exchanges. The company confirmed that:

• The contract does not fall under related party transactions.
• Neither the promoter nor the promoter group companies have any interest in HRTC.

Market Impact

This substantial order is likely to have a positive impact on Olectra Greentech's order book and future revenue streams. It also strengthens the company's position in the growing electric bus market in India.

Looking Ahead

As states across India push for cleaner public transportation options, contracts like these underscore the growing demand for electric buses. Olectra Greentech's success in securing this order may pave the way for similar contracts in other states, potentially driving the company's growth in the coming years.

Investors and market watchers will likely keep a close eye on Olectra Greentech's execution of this contract and its impact on the company's financial performance in the upcoming quarters.