Olectra Greentech Q3 FY26 Revenue Rises 29%; Profit Largely Flat

Electric bus and tipper maker Olectra Greentech Ltd reported a 29% year-on-year increase in consolidated revenue to ₹663.60 crore for the third quarter ended December 31, 2025, supported by higher vehicle deliveries, while net profit remained largely unchanged.

Profit after tax for the quarter stood at ₹46.68 crore, marginally higher than ₹46.62 crore reported in the corresponding quarter last year. Profit before tax rose 3% year-on-year to ₹64.07 crore, compared with ₹61.95 crore in Q3 FY25. Earnings per share increased slightly to ₹5.65 from ₹5.64.

EBITDA for the quarter came in at ₹97.10 crore, up 19% from ₹81.77 crore a year earlier, reflecting operating leverage from higher volumes. EBITDA margins, however, saw limited expansion amid cost pressures.

During the quarter, Olectra delivered 385 electric vehicles, a 37% increase from 282 units in the year-ago period, marking the company’s highest-ever quarterly deliveries. Cumulative deliveries stood at 3,639 electric vehicles as of December-end, while the order book remained strong at 9,439 units, providing medium-term revenue visibility.

For the nine months ended December 31, 2025, consolidated revenue rose 23% year-on-year to ₹1,667.45 crore, compared with ₹1,352.98 crore in the same period last year. EBITDA increased 13% to ₹246.08 crore, while profit before tax grew 5% to ₹166.33 crore. Net profit for the nine-month period rose 3% to ₹122.14 crore from ₹118.52 crore.

Managing Director Mahesh Babu said the company’s focus on execution and operational efficiency helped drive growth in revenue and profitability. He also highlighted the certification of the company’s Blade Battery Pack, noting that production of electric buses equipped with the new battery technology is expected to begin from the next quarter.

Olectra Greentech, part of the MEIL Group, is a key supplier of electric buses and electric tippers to public transport agencies across India, as demand for zero-emission mobility solutions continues to grow.