- Olectra Greentech plans to scale up vehicle deliveries in FY27 with 8,000 orders.
- The company invoiced 358 vehicles in Q1 FY27, aiming for 500-600 by Q4.
- Olectra targets 2,000-2,500 total deliveries in FY27 with further growth planned.
Electric bus maker Olectra Greentech is planning a significant scale-up in vehicle deliveries through the current financial year, backed by an order book of more than 8,000 vehicles to be executed over the next two years.
Managing Director Mahesh Babu told NDTV Profit that the company invoiced 358 vehicles in the first quarter of FY27, higher than the corresponding period last year, and is targeting a steep jump in quarterly output as the year progresses.
"We start with Q1 with 350. We want to exit with 500 plus 600 vehicles," Babu said, indicating the company expects to nearly double its quarterly delivery run-rate by the fourth quarter.
For the full year, Olectra is aiming to close between 2,000 and 2,500 total deliveries, with further scale-up planned beyond FY27 as well, Babu said.
Execution Timeline On Order Book
With over 8,000 vehicles currently in its order pipeline, Babu said the company expects to execute this backlog over the next two years, pointing to sustained visibility on the mobility business even as near-term profitability faced pressure.
"We have about 8,000 plus orders in pipeline, which we have to execute in next two years," he said.
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Revenue Growth Led By Volumes
Babu clarified that the 65% year-on-year revenue growth in the June quarter was driven by higher vehicle deliveries rather than a shift toward a richer, higher-margin product mix.
"This is Q1 to last year to this year on year. It's based on higher deliveries. We have delivered higher numbers and hence the revenues are higher," he said.
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Margins To Recover Even As Volumes Rise
While the e-bus business itself saw minimal impact on margins during the quarter, Babu said the broader profitability pressure — largely stemming from the company's energy division — was expected to ease as deliveries ramp up.
He said the business was "on the right path," with capacity expansion already underway to support the higher order execution planned through FY27 and beyond.
The comments come as Olectra continues to lean on its electric bus segment as the primary growth driver, even as its energy division works through near-term cost pressures tied to forex and raw material prices.
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