Synopsis:
Over the past five years, Olectra Greentech has delivered phenomenal returns of nearly 20x, driven by strong order inflows, revenue growth, and improving profitability. It is backed by a robust order book.
This company is a pioneer in India’s electric mobility space. The company manufactures electric buses, tippers, and trucks, along with composite polymer insulators and is now in the spotlight after delivering 20 times returns in the past five years.
With market capitalization of Rs. 12,777 cr, the shares of Olectra Greentech Ltd are currently trading at Rs. 1,557.60 per share, from its previous close of Rs. 1,545.10 per share. The stock has surged 2,406.19% in the last 5 years from Rs. 62.15 per share on Oct 6, 2020 to current levels of Rs. 1,557.60 per share.
Company growth
Olectra Greentech Ltd is one of India’s most remarkable auto stocks, having delivered over 20x (20-bagger) returns over the past 5 years. Fueled by the company’s leadership in electric bus manufacturing, its massive order book, and rapid revenue expansion.
Olectra Greentech’s growth journey highlights its rapid rise in the electric mobility space. Starting its e-bus division in FY16, the company started its first bus in FY17 and delivered its first e-bus in FY18. By FY19, it achieved the 100-bus delivery milestone, and in FY20 secured an order for 500+ buses while surpassing 1 crore clean kilometers.
Over the years, the company expanded with new models like coach buses and India’s first e-tipper, and by FY22 became the first OEM to deliver over 500 e-buses. In FY23, it crossed 1,000 e-bus deliveries and 10 crore clean kilometers.
The momentum peaked in FY24 when it bagged the world’s largest e-bus order of 5,150 units, taking cumulative orders to over 8,200 buses. Olectra Greentech confirmed a net order book of more than 10,000 electric buses as of late May 2025.
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About the company
Olectra Greentech Ltd, part of the MEIL group, is a pioneer in India’s electric mobility sector and the country’s largest e-bus manufacturer. The company has played a key role in promoting sustainable public transport by supplying electric buses to multiple state transport undertakings, along with expanding into electric trucks and tippers.
In Q1FY26, sales rose 11% to Rs. 347 crore compared to Rs. 314 crore a year earlier, while EBITDA increased 9% to Rs. 47.8 crore. Net profit improved 8% to Rs. 26 crore, up from Rs. 24.3 crore in Q1FY25, with EPS rising 9% to Rs. 3.17.
Written by Manideep Appana
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