Q3 2026 Olectra Greentech Ltd Earnings Call Transcript
Key Points
- Olectra Greentech Ltd (BOM:532439) reported a 37% increase in electric vehicle deliveries from 282 units in Q3 of the previous year to 385 units in the current Q3.
- The company's revenue grew by 29% year-on-year, reaching INR663.6 crore for the quarter.
- Olectra Greentech Ltd has maintained a strong market position, holding a 29% market share in the electric bus segment for Q3.
- The company has a robust order book, having become L1 in a tender for 1,785 vehicles, which is expected to convert into orders soon.
- Olectra Greentech Ltd's EBITDA margins are at 14.1%, which is considered the best in the EV industry, indicating strong operational efficiency.
- Despite revenue growth, the company's PAT (Profit After Tax) remained flat year-on-year at INR46.7 crore.
- Margins in the EV segment have seen compression due to changes in product mix, impacting profitability.
- The company faces challenges in achieving its ambitious target of delivering 2,000 buses for FY26, with only 881 delivered in the first nine months.
- There are concerns about the working capital cycle, although improvements are being made, with net working capital days currently at 42 days.
- Olectra Greentech Ltd's finance costs remain high due to term loans and LC discounting, impacting overall profitability.
Ladies and gentlemen, good day and welcome to Olectra Greentech Ltd Q3 FY26 earnings conference call hosted by Nomura.
(Operator Instructions)
Please note that this conference is being recorded.
I now hand the conference over to Mr. Siddharth Pera from Nomura.
Thank you and over to you, sir.
Yeah, thanks, good afternoon, everybody, and thanks for joining the call. We have with us, Olectra Greentech's, management, Mr. Mahesh Babu, the Managing Director, Mr. B. Sharat Chandra, CFO, and, Mr. Hanuman Prasad, the Company Secretary and legal. With us, to address your queries, so I'll pass on to the management, for some initial opening remarks, and then we can open the floor for question-and-answer, over to you, sir.
Okay, good morning. My name is Mahesh Babu. I'm the Managing Director of Olectra Greentech.
Good afternoon, everybody, and I would like to give you a global brief of what is happening
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