La Opala RG Q2 FY26 Results: Revenue Grows 0.3% YoY to ₹909 Cr, PAT Rises 11% to ₹26.78 Cr on Stable Demand
9 Nov 2025
Olectra Greentech Limited - Electric Bus Manufacturing Facility
📊 Stock Analysis
Complete financial analysis with key metrics and investment outlook
Olectra Greentech Q2 FY2026 Financial Performance
Olectra Greentech Limited (NSE: OLECTRA), India’s pioneer in electric bus manufacturing and a subsidiary of Megha Engineering & Infrastructures Ltd, announced its Q2 FY26 results showcasing robust revenue growth backed by strong execution and healthy order inflows in its electric mobility business.
The Hyderabad-based company continues to strengthen its leadership in India’s green transportation revolution through advanced e-bus and e-truck technology, alongside its legacy polymer insulator manufacturing operations.
Stock Performance & Key Metrics
As of November 8, 2025:
- Current Price: ₹1,516
- Market Cap: ₹12,440 Crores
- Stock P/E: 87.0
- Industry P/E: 33.0
- Book Value: ₹137 per share
- Dividend Yield: 0.03%
- ROCE: 20.5%
- ROE: 14.3%
- Debt to Equity: 0.33
- Debt: ₹366 Crores
- Face Value: ₹4
- EPS: ₹17.4
Q2 FY2026 Consolidated Financial Highlights
| Particulars | Q2 FY26 | Q2 FY25 | YoY Change |
|---|---|---|---|
| Revenue from Operations | ₹65,662 Lakhs | ₹52,367 Lakhs | ↑ 25.4% |
| Total Income | ₹66,095 Lakhs | ₹52,619 Lakhs | ↑ 25.7% |
| Profit Before Tax (PBT) | ₹6,846 Lakhs | ₹6,483 Lakhs | ↑ 5.6% |
| Profit After Tax (PAT) | ₹4,943 Lakhs | ₹4,765 Lakhs | ↑ 3.7% |
| EPS (₹) | 6.04 | 5.79 | ↑ 4.3% |
Revenue growth was driven primarily by higher deliveries in the electric bus segment and stable operational performance in the composite insulator division. Margins remained healthy despite input cost pressures.
H1 FY2026 Performance
- Revenue: ₹1,00,385 Lakhs vs ₹83,761 Lakhs (↑ 20% YoY)
- PAT: ₹7,546 Lakhs vs ₹7,191 Lakhs (↑ 5% YoY)
- EPS: ₹9.21 vs ₹8.72 (↑ 6% YoY)
Business Overview
Olectra Greentech Ltd is a key player in India’s electric mobility transformation, engaged in manufacturing electric buses, trucks, and composite polymer insulators. The company operates through subsidiaries and joint ventures under the EVEY Trans group structure, partnering with state transport undertakings (STUs) for electric bus operations under long-term contracts.
Its business is divided into two main verticals:
- Electric Vehicles (EVs) – Manufacturing and operating electric buses and trucks in collaboration with BYD Auto (China) and domestic partners.
- Composite Polymer Insulators – Supplying high-voltage insulators for the power transmission industry.
Strategic Highlights
- Consolidated revenue up 25% YoY on strong e-bus order execution.
- Subsidiary EVEY Trans (GTC) contributed through fleet operations under STU contracts.
- New e-bus tenders and EV truck initiatives expected to further scale operations.
- Focused investment in capacity enhancement and new product variants.
- Strong order pipeline from central and state transport utilities under India’s electric bus adoption programs.
- Continued commitment to sustainability and clean mobility solutions.
Financial Strength
Olectra maintains a healthy balance sheet with moderate leverage (Debt-to-Equity 0.33) and improving operating cash flows. ROCE of 20.5% and ROE of 14.3% underline strong capital efficiency and profitability.
Management Commentary
Mr. V. K. Murthy, Managing Director, commented: > “The quarter marks continued progress in our electric mobility journey. With increasing adoption of electric buses across India, Olectra is well-positioned to capture growing demand. Our diversified project base and partnerships reinforce our long-term growth visibility.”
Outlook
The company remains optimistic about the EV ecosystem’s expansion in India, supported by:
- Government incentives for e-bus adoption under FAME-II and state EV policies.
- Expanding operational fleet under long-term transport contracts.
- Technology advancements via BYD collaboration and in-house R&D.
- Strategic plans to launch electric trucks and expand charging infrastructure.
Olectra Greentech continues to strengthen its leadership in India’s zero-emission public transportation segment, backed by strong fundamentals and a clear roadmap for sustainable growth.
*For detailed results, refer to the BSE Filing PDF* *Data as of November 8, 2025 | Results approved by Board of Directors on November 8, 2025*
