Olectra Greentech has revised its delivery guidance for FY26, lowering expectations to 1500-2000 units from the previously announced target of 2000-2500 units. This adjustment comes as the company continues to pursue strategic expansion into the electric truck segment.

Revised Delivery Projections

The company's updated guidance reflects a more conservative approach to its delivery targets for the upcoming fiscal year. The revised figures represent a notable adjustment in the company's business projections.

Strategic Product Portfolio Expansion

Despite the revised delivery guidance, the company continues with its strategic plans to expand its product portfolio by entering the electric truck segment. This move represents a significant diversification effort for the company as it looks to broaden its electric vehicle offerings beyond its current product range.

Market Positioning and Business Development

By adding electric trucks to its product lineup, Olectra Greentech is positioning itself to serve the commercial transportation sector's increasing demand for electric vehicles. The move aligns with the broader industry trend toward electrification of commercial fleets and sustainable transportation solutions.

This strategic expansion indicates the company's focus on diversifying its electric vehicle portfolio to include commercial applications. The addition of e-trucks to its offerings could enhance the company's competitive position in the electric vehicle market and provide access to new customer segments in the commercial transportation industry.

Olectra Greentech Limited has disclosed receiving a penalty notice from the Telangana Industrial Infrastructure Corporation Limited (TGIIC) amounting to ₹2.58 crore, including GST, for delayed completion of its EV manufacturing facility construction project.

Penalty Details and Timeline

The penalty notice covers a specific period from November 12, 2023, to November 11, 2025. TGIIC has directed the company to remit the penalty amount within seven days of receipt of the order.

Background of the EV Manufacturing Project

The penalty stems from delays in the full completion of Olectra Greentech's Greenfield EV Manufacturing Facility located at the Industrial Park in Seetharampur, Hyderabad, Telangana. According to a sale agreement dated November 11, 2021, the company acquired 150 acres of land from TGIIC for establishing this manufacturing facility.

The company had requested an extension of timelines for setting up the facility and sought a No-Objection Certificate (NOC) to obtain credit facilities against the scheduled property. In response to this request, TGIIC invoked the penalty clause outlined in the original sale agreement.

Current Operational Status

Despite the penalty notice, Olectra Greentech clarified that it has already partially commenced commercial operations at the new facility within the timelines stipulated in the sale agreement with TGIIC. This indicates that while full construction completion faced delays, the company has been able to begin production activities at the site.

Financial and Operational Impact

The company has assessed that apart from the penalty amount itself, there is no material impact on its financial or operational activities. Olectra Greentech stated that the impact is neither quantifiable financially nor operationally beyond the penalty sum.

This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding material developments affecting the company.