Olectra Greentech plans to launch a new generation of electric buses in the fourth quarter of FY27, Managing Director Mahesh Babu has confirmed. The Hyderabad-based manufacturer is developing the new buses with a focus on localisation and intends to cater to both Indian and international markets.
The announcement was made alongside the company’s financial results for the July–September 2026 quarter. Olectra reported an 18% year-on-year increase in EBITDA and said its order book stood at more than 8,000 electric buses. The company has delivered over 4,750 electric vehicles cumulatively.
“Building on this momentum, we are preparing to introduce our new generation Olectra electric buses, developed with a strong focus on localisation and designed for both domestic and international markets,” Babu said.
The buses are scheduled for launch between January and March 2027. Olectra has not disclosed their technical specifications, planned production volumes or the overseas markets it intends to serve. The company has also not provided details of the investment involved in developing the new range.
The proposed launch comes as Olectra works to fulfil its existing electric bus orders. Its order book of more than 8,000 units is substantially higher than the number of vehicles delivered so far, making the pace of production and deliveries important to its future performance.
During Q2 FY27, Olectra delivered 401 electric vehicles, compared with 375 units in the corresponding quarter last year, an increase of 7%. Deliveries during the first half of the financial year stood at 759 vehicles.
The company said its cumulative electric vehicle deliveries had crossed 4,750 units. Its electric buses have covered more than 750 million kilometres across India, with operations spanning 55 cities.
Olectra reported revenue of ₹687.01 crore during the September quarter, up 5% from ₹656.62 crore a year earlier. EBITDA increased 18% to ₹109.88 crore from ₹93.01 crore, while profit after tax rose 5% to ₹52.12 crore from ₹49.43 crore.
The EBITDA margin improved to approximately 16% from 14.2% in the corresponding quarter last year. Profit before tax increased 6% to ₹72.74 crore.
“The 18% growth in EBITDA is particularly encouraging, reflecting our focus on operational efficiency and building a stronger foundation for the future,” Babu said.
Olectra said it would continue to focus on fulfilling existing orders, improving operational efficiency and expanding its capabilities. The new-generation buses are expected to be introduced before the end of the current financial year, although the company has not announced a specific launch date.