Midcap Indian EV stock jumped 13% after announcing its Q3FY25 results. The company declared a significant YoY jump of 72% in their Net profits, showing continued growth in the EV sector.
Share Price Movement
With a market capitalization of ₹12,131 Cr, the share of Olectra Greentech opened at ₹1,365, up 3 % from the previous close of ₹1325, and made an intra-day high of ₹1,506 up 13.66 % from close. by noon the share declined from days high to trade around ₹1,420. The past month’s return for the stock is 2 % and the 1-year return stands at – 12 %.
Q3FY25 Results
The company reported a 51% YoY increase in revenue from ₹342.14 Cr in Q2FY24 to ₹515.36 Cr in Q3FY25. Their Net profit too saw a significant upside with a 72 % YoY increase from ₹27.11 Cr to ₹46.61 Cr for the same period.
On a QoQ basis, the company reported a marginal decrease of 1 % in revenue from ₹523.67 Cr in the previous quarter, and their net profits also saw a decrease of 2 % from ₹47.65 Cr for the same period.
Segment Analysis
The largest part of revenue for the company comes from the e-vehicle division which accounts for 90 % of total revenue then comes the Insulator division which accounts for 9 %.
The largest part of the Operating profit for the company comes from the e-vehicle division which accounts for 83 % of total Operating Profit then comes the Insulator division which accounts for 16 %.
The majority of the Capital Employed is in the e-vehicle division at 85.60% then the Insulator division at 14 % and the rest is Unallocated Capital.
About the Company
Olectra Greentech Limited (Formerly known as Goldstone Infratech Limited) was incorporated in October 2000, to take over the telecom business of Goldstone Technologies as part of a restructuring program undertaken by Goldstone Technologies Ltd. Presently, the Company is primarily engaged in the manufacturing of composite polymer insulators also manufacturing of electrical buses.
Written By Abhishek Das
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