SYNOPSIS: The associate company of one of the largest manufacturers of Electric Buses in India secured LOAs from TGSRTC for 1,085 electric buses under a 12-year GCC model, with Rs. 1,800 crore supply value and long-term maintenance responsibilities for Olectra.
During Monday’s trading session, shares of a company engaged in the manufacturing of composite polymer insulators and electrical buses surged over 4 percent on the stock exchanges, after securing an order worth ~Rs. 1,800 crores from Telangana State Road Transport Corporation (TGSRTC).
With a market cap of Rs. 8,572 crores, shares of Olectra Greentech Limited were trading in the green at Rs. 1,044.3 on BSE, up by around 3 percent, as compared to its previous closing price of Rs. 1,015.4. The stock has delivered negative returns of around 12 percent in the last one year, but has gained by around 5 percent in one month.
What’s the News:
Olectra Greentech Limited has informed the stock exchanges that its associate company, Evey Trans Private Limited (EVEY), has received two Letters of Award (LOAs) from Telangana State Road Transport Corporation (TGSRTC). The contract covers the supply, operation and maintenance (O&M) of 1,085 electric buses for intra-city operations, comprising 1,025 non-AC 12-metre buses and 60 AC 12-metre buses.
The project will be executed under a Gross Cost Contract (GCC) or OPEX model for a tenure of 12 years. Under this structure, EVEY will procure the buses from Olectra, with deliveries scheduled over the next 20 months. The long-term agreement ensures revenue visibility through both deployment and operational responsibilities.
The order value for the supply of 1,085 electric buses is around Rs. 1,800 crore for Olectra. In addition to manufacturing and delivering the buses, Olectra will also handle maintenance services during the contract period. The proposed transactions between Olectra and EVEY will fall under the category of related party transactions and will be conducted on an arm’s length basis.
Olectra reported a marginal growth in consolidated revenue from operations of about 1 percent QoQ, from Rs. 657 crores in Q2 FY26 to Rs. 664 crores in Q3 FY26. However, its net profit decreased during the same period from Rs. 49 crores to Rs. 47 crores, representing a decline of around 4 percent QoQ.
Olectra Greentech Limited, formerly known as Goldstone Infratech Limited, is primarily engaged in the business of manufacturing composite polymer insulators, tippers, electric buses and electric trucks. It has established a greenfield state-of-the-art plant in Hyderabad with a capacity of 5,000 units/year and is scalable to 10,000 units/year.
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