Olectra Greentech Announces Successful Postal Ballot Results for Leadership Changes

Olectra Greentech has successfully concluded its postal ballot process, with all proposed resolutions receiving overwhelming shareholder approval. The company announced the voting results on December 24, 2025, marking a significant milestone in its corporate governance journey.

Postal Ballot Results Overview

The postal ballot, conducted through remote e-voting from November 24 to December 23, 2025, saw strong participation from shareholders across all categories. The voting process was scrutinized by Prathap Satla Associates, Company Secretaries, ensuring transparency and compliance with regulatory requirements.

Voting Details	Information
Total Shareholders (Cut-off Date)	4,60,634
Cut-off Date	November 20, 2025
E-voting Period	November 24 - December 23, 2025
Scrutinizer	Prathap Satla Associates

Resolution-wise Voting Results

All three resolutions proposed in the postal ballot notice dated November 19, 2025, were approved with substantial majority:

Resolution 1: Regularisation of Managing Director

The regularisation of Mr. Mahesh Babu Subramanian (DIN: 08736697) as Director received strong support:

Vote Category	Votes Cast	Percentage
In Favour	4,66,70,576	96.05%
Against	19,18,200	3.95%

Resolution 2: Appointment as Managing Director

The appointment of Mr. Mahesh Babu Subramanian as Managing Director for a 3-year term from September 27, 2025, was approved:

Vote Category	Votes Cast	Percentage
In Favour	4,46,30,188	91.85%
Against	39,58,588	8.15%

Resolution 3: Independent Director Reappointment

The reappointment of Mrs. Chintalapudi Laksmi Kumari (DIN: 09023799) as Independent Director for 5 years from January 9, 2026, received approval:

Vote Category	Votes Cast	Percentage
In Favour	4,84,65,794	99.75%
Against	1,22,982	0.25%

Shareholder Participation Analysis

The postal ballot witnessed significant participation across different shareholder categories:

Shareholder Category	Total Shares	Votes Polled	Participation Rate
Promoter & Promoter Group	4,10,53,000	4,10,53,000	100.00%
Public Institutions	62,68,712	51,46,474	82.10%
Public Non-Institutions	3,47,59,025	23,89,302	6.87%
Total	8,20,80,737	4,85,88,776	59.20%

The successful completion of this postal ballot process strengthens Olectra Greentech's leadership structure and demonstrates strong shareholder confidence in the proposed appointments. The company has published the complete voting results and scrutinizer's report on its website at www.olectra.com , ensuring transparency and regulatory compliance.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.72%	-8.94%	-5.77%	-5.60%	-19.27%	+724.37%

Olectra Greentech , a leading electric vehicle manufacturer, has addressed concerns regarding its bus delivery commitments in Maharashtra. During a recent conference call, the company stated that there are no issues with meeting the timeline for bus deliveries in the state.

Delivery Assurance

The company's statement comes as a reassurance to stakeholders and customers alike. Olectra Greentech, known for its electric buses and other green transportation solutions, has been working on expanding its presence in various states, including Maharashtra.

Market Position

Olectra Greentech has been making significant strides in the electric vehicle sector, particularly in the e-bus segment. As of the latest available data, the company has:

Over 3,000 electric vehicles on the road
Completed more than 480 million clean kilometers
An order book of 9,818 units

Financial Performance

While the company didn't provide specific financial details related to the Maharashtra order, its recent financial performance has shown positive trends:

Particulars (in INR Lakhs)	H1 FY26	H1 FY25	% Change
Revenue from operations	100,384.70	83,761.20	19.80%
EBITDA	14,897.80	13,620.30	9.40%
Profit Before Tax	10,225.60	9,667.70	5.80%

The company's revenue has shown an increase of 19.80% in the first half of FY26 compared to the same period in the previous year.

Future Outlook

Olectra Greentech's reassurance regarding the Maharashtra bus delivery timeline aligns with its overall growth strategy. The company has been expanding its product range and production capabilities to meet the increasing demand for electric vehicles in India.

As the push for green transportation continues to grow, Olectra Greentech's commitment to timely delivery and expansion of its electric vehicle fleet positions it in the evolving market landscape.

The company's statement on the Maharashtra deliveries demonstrates its focus on maintaining customer trust and meeting contractual obligations, which are crucial factors in the competitive electric vehicle industry.