Olectra Greentech Targets Delivery Of 2,000 Vehicles In FY26 After Best-Ever H1 Performance
Olectra Greentech's revenue has surpassed the Rs 1,000 crore mark in the first half of the current financial year.
Olectra Greentech, a key player in India's electric bus market, is hopeful of delivering around 2,000 vehicles in FY26, according to its Managing Director (MD) Mahesh Babu. In the previous financial year, the company delivered nearly 1,900 vehicles.
“The target is to deliver close to 2,000 vehicles this year, so that's what we are working on. We delivered about 1,900 vehicles last year. I think we will definitely cross that this year,” he said during a conversation with NDTV Profit.
“If we continue to retain this quarter's (Q2FY26) delivery and improve 5-10%, which we are planning to do, I think we'll be able to hit a good number, which is much higher growth than last year we are looking at,” he added.
The Hyderabad-based firm also achieved over Rs 1,000 crore in revenue for the first half of FY26, marking its best-ever H1 performance. “Even if you look at the half, we have done the best half. I am very proud to say that we have done about 1000 crore plus in the first half,” the top executive said.
Despite the challenges like depot readiness and lack of power infrastructure in states, Babu downplayed execution roadblocks. “There are some challenges in the depot readiness, power availability at the respective depots, we don't want to make the vehicles and hold the capital waiting for deployment, which is a very high capex intensity for us,” he said.
On macroeconomic tailwinds, Babu noted limited direct impact from recent GST cuts, as EVs already attract just 5% GST, a rate retained in the September 2025 reforms. Highlighting the size of the company’s operations, he said the company operates in 35 to 40 cities across India.
“We have close to 35 to 40 cities we are operating in. We have one of the highest parks of electric vehicles in the country, we have about 3,000 plus electric vehicles on the road and we have about close to 100 plus trucks running.”
The Hyderabad-based firm also achieved over Rs 1,000 crore in revenue for the first half of FY26, marking its best-ever H1 performance. “Even if you look at the half, we have done the best half. I am very proud to say that we have done about 1000 crore plus in the first half,” the top executive said.
The company reported a 4.2% year-on-year (YoY) increase in consolidated net profit at Rs 49.5 crore in Q2FY26 from Rs 47.6 crore a year ago. Its revenue jumped 25.4% YoY to Rs 657 crore in Q2FY26.
