Olectra Greentech Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • E Vehicle division: 85.7% • Insulator: 14.3%
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Company has delivered good profit growth of 69.9% CAGR over last 5 years
- Company has delivered good sales growth of 52.3% CAGR over last 5 years
- Working capital cycle has improved - days down from 130 to 103
- Stock looks reasonably valued - P/E of 57.0 is below its historical median
- Company has a consistent dividend-paying track record
- Institutional investors have been accumulating - FII+DII up 2.4pp
CONS
- Total debt has risen sharply - up 67.4% year on year
- Stock is trading at 6.5x its book value
- Growth is decelerating - 3Y profit CAGR (34.7%) trails the 5Y trend (69.9%)
- Though reporting repeated profits, the company pays out little dividend (2.8%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TMCV | 444.75 | 39.08 | 163792.06 | 0.90 | 25560.00 | 1729.63 | 206670.00 | 1092.97 | 31.55 | 15.95 |
| ASHOKLEY | 167.10 | 28.24 | 98152.11 | 2.09 | 667.77 | 1.53 | 13069.59 | 12.12 | 14.10 | 18.49 |
| FORCEMOT | 17378.65 | 18.29 | 22898.56 | 0.29 | 216.59 | 22.81 | 2440.01 | 6.21 | 41.93 | 13.63 |
| OLECTRA | 1205.65 | 55.78 | 9896.06 | 0.05 | 26.66 | 2.44 | 575.51 | 65.75 | 21.12 | 12.29 |
| SMLMAH | 6551.25 | 60.61 | 9480.74 | 0.36 | 63.62 | -4.99 | 957.54 | 13.20 | 31.21 | 10.45 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 206 | 298 | 332 | 278 | 304 | 514 | 507 | 438 | 338 | 647 | 654 | 635 | 567 | |
| 169 | 257 | 285 | 247 | 264 | 434 | 430 | 386 | 294 | 559 | 566 | 537 | 537 | |
| Operating Profit | 37 | 41 | 47 | 31 | 41 | 80 | 77 | 52 | 44 | 88 | 89 | 99 | 29 |
| OPM % | 18.01% | 13.69% | 14.20% | 11.06% | 13.32% | 15.65% | 15.19% | 11.95% | 13.01% | 13.66% | 13.57% | 15.53% | 5.20% |
| 2 | 3 | 3 | 5 | 3 | 3 | 2 | 4 | 5 | 4 | 3 | 1 | 2 | |
| Interest | 7 | 9 | 13 | 13 | 9 | 11 | 11 | 16 | 11 | 13 | 19 | 16 | 23 |
| Depreciation | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 9 | 9 | 11 | 13 |
| Profit before Tax | 25 | 28 | 30 | 16 | 28 | 65 | 61 | 32 | 30 | 71 | 64 | 72 | 32 |
| Tax % | 24.72% | 25.22% | 25.53% | 26.45% | 26.17% | 25.81% | 23.94% | 24.73% | 25.63% | 26.01% | 26.14% | 29.60% | 26.42% |
| Net Profit | 19 | 21 | 22 | 12 | 21 | 48 | 46 | 24 | 22 | 53 | 47 | 51 | 23 |
| 2.28 | 2.56 | 2.71 | 1.42 | 2.53 | 5.87 | 5.64 | 2.96 | 2.73 | 6.43 | 5.74 | 6.16 | 2.83 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 105 | 161 | 290 | 396 | 277 | 585 | 1,134 | 1,114 | 1,763 | 2,274 | 2,503 | |
| 85 | 148 | 304 | 386 | 256 | 505 | 1,006 | 961 | 1,513 | 1,955 | 2,198 | |
| Operating Profit | 20 | 14 | -14 | 9 | 21 | 81 | 129 | 153 | 250 | 320 | 305 |
| OPM % | 19.18% | 8.61% | -4.75% | 2.30% | 7.53% | 13.81% | 11.34% | 13.75% | 14.20% | 14.06% | 12.19% |
| 1 | 7 | 15 | 27 | 11 | 5 | 20 | 15 | 12 | 14 | 11 | |
| Interest | 6 | 6 | 15 | 14 | 7 | 9 | 31 | 42 | 47 | 59 | 71 |
| Depreciation | 2 | 3 | 6 | 9 | 9 | 25 | 26 | 27 | 29 | 37 | 42 |
| Profit before Tax | 13 | 12 | -20 | 13 | 16 | 52 | 91 | 99 | 186 | 237 | 239 |
| Tax % | 35.87% | 25.23% | 31.45% | 19.85% | 23.65% | 31.44% | 22.40% | 25.39% | 25.06% | 27.09% | 27.18% |
| Net Profit | 8 | 9 | -14 | 11 | 12 | 36 | 71 | 74 | 140 | 173 | 174 |
| EPS | 2.33 | 1.96 | -2.07 | 1.30 | 1.49 | 4.35 | 8.61 | 8.97 | 17.00 | 21.06 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 9.20% | 4.64% | 4.46% | 2.35% | 2.85% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 38%
- 5 Years:
- 52%
- 3 Years:
- 26%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 40%
- 5 Years:
- 70%
- 3 Years:
- 35%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 27%
- 3 Years:
- -1%
- 1 Year:
- -25%
RETURN ON EQUITY
- 10 Years:
- 7%
- 5 Years:
- 10%
- 3 Years:
- 13%
- Last Year:
- 15%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 20 | 32 | 33 | 33 | 33 | 33 | 33 | 33 | 33 |
| 52 | 167 | 628 | 659 | 711 | 748 | 816 | 886 | 1,023 | 1,193 | |
| 64 | 71 | 23 | 29 | 8 | 65 | 64 | 53 | 204 | 308 | |
| Trade Payables | 13 | 27 | 119 | 106 | 103 | 243 | 438 | 388 | 653 | 735 |
| 15 | 25 | 54 | 63 | 42 | 78 | 152 | 168 | 213 | 255 | |
| Total Liabilities | 158 | 311 | 856 | 890 | 898 | 1,167 | 1,503 | 1,528 | 2,125 | 2,524 |
| 61 | 72 | 102 | 106 | 249 | 289 | 274 | 255 | 288 | 514 | |
| Capital Work in Progress | 11 | 6 | 0 | 0 | 0 | 1 | 4 | 72 | 187 | 82 |
| 0 | 0 | 107 | 0 | 32 | 32 | 35 | 42 | 105 | 123 | |
| 23 | 63 | 112 | 81 | 62 | 59 | 142 | 216 | 290 | 247 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 511 | 689 | 981 | |
| Cash & Bank | 11 | 22 | 156 | 99 | 88 | 198 | 166 | 165 | 168 | 169 |
| 52 | 148 | 380 | 604 | 466 | 588 | 883 | 267 | 398 | 407 | |
| Total Assets | 158 | 311 | 856 | 890 | 898 | 1,167 | 1,503 | 1,528 | 2,125 | 2,524 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -5 | -101 | -200 | -183 | 243 | 123 | 19 | 127 | 129 | 86 | |
| Cash from Investing | -6 | -19 | -236 | 166 | -209 | -162 | 13 | -76 | -231 | -161 |
| Cash from Financing | 15 | 126 | 458 | 0 | -22 | 49 | -28 | -53 | 102 | 81 |
| 0 | 0 | 20 | -19 | 9 | 7 | -13 | -2 | 0 | 5 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - Olectra Greentech Limited has informed the Exchange about Copy of Newspaper Publication about 26th Annual General Meeting of the company
2026-08-31 - Olectra Greentech Limited has informed the Exchange regarding 'Intimation of Book Closure'.
2026-08-31 - Olectra Greentech Limited has informed the Exchange that Record date for the purpose of Dividend is 19-Sep-2026.
2026-08-31 - Olectra Greentech Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report for the financial year 2025-26'.
2026-08-31 - Olectra Greentech Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 26, 2026
2026-08-21 - Olectra Greentech Limited has informed the Exchange about Transcript
2026-08-17 - Olectra Greentech Limited has informed the Exchange about Link of Recording
2026-08-17 - Olectra Greentech Limited has informed the Exchange about Presentation
2026-08-13 - Olectra Greentech Limited has informed the Exchange regarding Outcome of Board Meeting held on August 13, 2026.
News
Recent coverage and analyst commentary for OLECTRA
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