OLECTRA

Olectra Greentech – EV Bus Leader Driving India's Electric Mobility Transition

Olectra Greentech is India's leading electric bus manufacturer and a major beneficiary of the country's transition toward sustainable public transportation. Backed by technology collaboration with BYD, the company has established a strong position in the rapidly growing electric mobility market. Key Financial Highlights • FY26 revenue crossed ₹2,300 crore, driven by strong electric bus deliveries. • Net profit grew significantly, supported by operating leverage and higher execution. • Healthy order book of thousands of electric buses provides multi-year revenue visibility. • Strong balance sheet with manageable debt levels. • Increasing production capacity to meet rising demand from state transport undertakings and private operators. Investment Rationale • Market leader in India's electric bus segment with proven execution track record. • Strong beneficiary of government EV policies, FAME incentives, and decarbonization initiatives. • Large order backlog provides long-term earnings visibility. • Rising adoption of electric public transport across multiple states. • First-mover advantage and established technology partnerships create entry barriers. • Growing focus on sustainable mobility supports long-term industry growth. With strong order inflows, leadership in electric buses, expanding manufacturing capacity, and favorable government policies, Olectra Greentech is well-positioned to benefit from India's long-term electric mobility revolution and sustainable transportation growth story.