Recent News and Developments

Extension of BYD Partnership

• Agreement Extended: Olectra Greentech Ltd. extended its cooperation agreement with BYD Auto Industry Co., Ltd. until 2030, reinforcing their collaboration in developing electric buses.

Credit Rating Outlook Revised

• ICRA Revision: ICRA Limited revised Olectra's credit rating outlook from 'Stable' to 'Negative', indicating potential concerns regarding the company's financial risk profile.

Strong Financial Performance

• Revenue Growth: In Q1 FY'25, consolidated revenue increased by 45% year-over-year to ₹313.9 crores.
• Profit Increase: Profit after tax rose by 34% to ₹24.3 crores.

Robust Order Book and Deliveries

• Order Book: The company holds an order book of 10,818 electric buses.
• Deliveries: Delivered 156 electric buses in Q1 FY'25, totaling 1,851 buses delivered to date.

Production Capacity Expansion

• Expansion Plans: Plans to increase production capacity to 5,000 buses per month by the end of the financial year.
• Future Target: Aiming for over 10,000 buses per month in FY'26.

Regulatory Compliance

• SEBI Compliance: Submitted compliance certificates under SEBI regulations.
• Financial Integrity: Reported no deviation in the use of preferential issue proceeds, demonstrating adherence to regulatory standards.

Investor Engagement

• Conference Call: Held a conference call on April 29, 2024, to discuss audited financial results.
• Transparency: Provided accessible materials to stakeholders, emphasizing transparency and communication.