Olectra Greentech (532439) Q1 26/27 earnings summary

Executive summary

• Achieved strong Q1 FY27 results with 66% revenue growth and 30% EBITDA growth year-over-year, despite supply chain and raw material cost challenges due to geopolitical disruptions.

• Board approved unaudited standalone and consolidated financial results for Q1 FY27, with limited review reports issued by statutory auditors and an unqualified opinion provided for both sets of results.

• Delivered the 4,000th electric bus, becoming the first in India to reach this milestone, and maintained a delivery rate of 350+ buses per quarter for the last four quarters.

• Maintained leadership in both mobility (e-bus) and energy (insulator) segments, with significant market share and ongoing expansion.

• Achieved record revenue of ₹231,217 lakhs for FY26, up 28% year-over-year, driven by strong growth in the Mobility Division.

Financial highlights

• Q1 consolidated revenue: INR 575.5 crore (₹57,550.64 lakhs), up 66% year-over-year.

• EBITDA: INR 72.9 crore, up 30% year-over-year.

• PAT: INR 23.2 crore (₹2,666.32 lakhs), up 4% year-over-year.

• Mobility Division Q1 FY27 revenue: ₹49,462.59 lakhs, up 69% year-over-year; Insulator Division: ₹8,088.05 lakhs, up 47%.

• Sequential revenue declined 11% from Q4, mainly due to lower energy segment revenue and product mix.

Outlook and guidance

• Targeting delivery of 2,500 vehicles in FY27, with confidence in achieving this based on current pipeline and market absorption.

• Insulator division aims for 5x revenue growth over three years, driven by new products and capacity expansion.

• Expecting gradual improvement in margins as raw material prices stabilize and supply chain disruptions ease.

• Continued investment in R&D and expansion into new EV segments and geographies.

• New generation bus and truck platforms to launch from Q4 FY27, with quarterly product introductions planned.