The shares of the electric bus manufacturer have fallen up to 8 percent in today’s trading session after the Maharashtra government canceled the Rs 10,000 crore e-buses order.
With a market capitalization of Rs 10,304.01 crore, the shares of Olectra Greentech Ltd were trading at Rs 1,266.55 per share, decreasing around 5.86 percent as compared to the previous closing price of Rs 1,345.35 apiece.
The shares of Olectra Greentech Ltd have seen bearish movement after Maharashtra’s Transport Minister canceled the Rs 10,000 crore e-bus order, citing delivery delays. The directive affects a major tender awarded to the company. However, Olectra Greentech has not officially confirmed the cancellation, leaving investors awaiting clarity on the order’s status and future developments.
Furthermore, during a Monday meeting at MSRTC headquarters, the minister revealed that Olectra failed to deliver any of the 1,000 buses due by May 22, despite a revised schedule. Citing doubts over future deliveries, the decision was made to cancel the tender agreement with the company.
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Additionally, on July 7, 2023, a consortium of Olectra Greentech and Evey Trans received a ₹10,000 crore LoI from MSRTC to supply 5,150 electric buses over 24 months. Evey will procure buses from Olectra, which will handle maintenance throughout the 12-year contract period ending in July 2035.
Looking forward to the company’s financial performance, revenue jumped by 55 percent from Rs 289 crore in Q4FY24 to Rs 449 crore in Q4FY25. During the same period, net profits jumped by 40 percent from Rs 15 crore to Rs 21 crore.
As of March 31, 2025, the company reported a total segment revenue of Rs 44,891.89 lakh, comprising Rs 5,433.78 lakh from the Insulator division and Rs 39,458.11 lakh from the E-vehicle division.
Olectra Greentech Limited is an India-based company primarily engaged in the manufacturing of composite polymer insulators and electrical buses. The Company operates through three segments: Insulator division, e-bus division, and e-truck division. Its main products include power insulation and electric buses.
Written by Abhishek Singh
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