Olectra Greentech wins bid for electric buses with Assam State Transport Corporation
The stock has witnessed significant buying activity, yielding multibagger returns of more than 170% in the last one year.
Today, the shares of Olectra Greentech Limited plunged 0.40%. The company’s current market capitalisation stands at Rs 14,024 crore.
Recent Development
Olectra Greentech has been awarded a contract by the Assam State Transport Corporation for the supply of 10 electric buses. The contract, valued at Rs 15.14 crore, is expected to be fulfilled within 90 days.
Business Outlook
The company is actively engaged in expanding its manufacturing capacity and upgrading its technological capabilities. A new cutting-edge facility is currently under construction at Sitarampur. The new plant is anticipated to have a capacity ready for 2,500 buses in the upcoming financial year.
In terms of order book and deliveries, the company boasts a net order book of electric buses amounting to 8,088 units. Looking ahead, the company anticipates robust demand, evidenced by orders from MSRTC for 5,150 buses. Additionally, there is ongoing progress in the PM e-Sewa tender.
Overall, the company is poised for growth, with strategic investments in manufacturing capacity and a strong order pipeline indicating promising prospects for the future.
About the Company
Olectra Greentech Limited, established in 1992, primarily focuses on manufacturing composite polymer insulators and electric buses. The company’s headquarters are located in Hyderabad.
The product-wise breakdown illustrates a predominant focus on the E Bus division, constituting the largest share at 82.54%, followed by the Insulator division at 10.54%. Additionally, the e-truck division contributes 6.92% to the total revenue.
Furthermore, concerning the location-wise breakdown, the company’s operations are entirely concentrated within India, representing 100% of its business activities.
Furthermore, the stock has witnessed significant buying activity, yielding multibagger returns of more than 170% in the last one year.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.