Olectra Greentech Ltd Share Price – NSE /  BSE

Automobile, Small Cap

Revenue from operations was at Rs 313.93 crore in the quarter ended 30 June 2024, up 45.33% as compared with Rs 216.02 crore posted in the corresponding quarter last year.

Profit before tax in first quarter of FY25 stood at Rs 31.85 crore, marking a growth of 26.09% from Rs 25.25 crore in Q1 FY24.

Total expenses spiked 51.78% YoY to Rs 288.70 crore during the June 2024 quarter. Cost of material consumed was at Rs 224.10 crore (up 46.14% YoY) and employee benefits expenses stood at Rs 18.42 crore (up 23.54% YoY) during the period under review.

On the segmental front, Insulator division revenue was Rs 37.51 crore (up 26.50% YoY), e-bus division revenue was Rs 282.40 crore (up 23.32% YoY) and revenue from e-truck division stood at Rs 276.43 crore (up 48.32% YoY) in the first quarter.

On standalone basis, the company’s net profit grew 10.91% to Rs 20.74 crore in Q1 FY25 as against Rs 18.70 crore posted in Q1 FY24. Revenue from operations jumped 47.65% to Rs 304.18 crore in the June 2024 quarter.

Meanwhile, the company’s board approved re-appointment of Venkateswara Pradeep Karumuru as the managing director (MD) of the company for a period of 3 years with effect from 29 July 2024.

Olectra Greentech is engaged in the manufacturing of composite polymer insulators, electric buses and electric trucks.

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Net profit of Olectra Greentech rose 32.74% to Rs 24.00 crore in the quarter ended June 2024 as against Rs 18.08 crore during the previous quarter ended June 2023. Sales rose 45.33% to Rs 313.94 crore in the quarter ended June 2024 as against Rs 216.02 crore during the previous quarter ended June 2023.

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Olectra Greentech will hold a meeting of the Board of Directors of the Company on 12 August 2024.

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Net sales declined by 23.2% YoY to Rs 288.81 crore during the period under review.

On the segmental front, revenue from the Insulator division was Rs 45.45 crore (down 4% YoY) and that from e-vehicle division was Rs 243.36 crore (down 26% YoY) in the fourth quarter.

Total operating expenditure for Q4 March 2024 added up to Rs 254.35 crore, down 22% YoY. While the company’s raw material costs declined (down 26.9 YoY), other expenses and employee costs recorded an increase of 17.1% YoY and 30.1%, respectively.

The company’s interest costs jumped 69% to Rs 13.06 crore in Q4 FY24 from Rs 7.73 crore in Q4 FY23.

Profit before tax in Q4 FY24 stood at Rs 20.11 crore, down by 42.6% from Rs 35.06 crore in Q4 FY23.

For FY24, Olectra Greentech has recorded net profit and revenues of Rs 76.83 crore (up 17.1% YoY) and Rs 1,154.14 crore (up 5.8% YoY), respectively.

Olectra Greentech is engaged in the manufacturing of composite polymer insulators, electric buses and electric trucks.

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