EV stock jumps 6% after it commences production at its new E-bus manufacturing plant

Synopsis: Olectra Greentech Ltd shares rose 6% upon announcing the commercial operations date for Phase I of its new EV plant in Seetharampur, Hyderabad. 

The shares of the Small-Cap stock specializing in the manufacturing of electric vehicles (EVs), primarily electric buses and tippers, and the production of composite polymer insulators, jumped upto 6 percent as the company announced commercial operations at its new electric bus manufacturing plant.

With a market capitalization of Rs. 10,370.49 crores on Friday, the shares of Olectra Greentech Ltd jumped upto 6.1 percent, reaching a high of Rs. 1274.00 per share compared to its previous closing price of Rs. 1200.55 per share.

What Happened

Olectra Greentech Ltd, engaged in the manufacturing of electric vehicles (EVs), primarily electric buses and tippers, and the production of composite polymer insulators, has informed the National Stock Exchange that it has started its Commercial Operation from 31 December 2025 at Phase I of its new Greenfield Electric Vehicle manufacturing facility at Seetharampur, Hyderabad, Telangana. 

The Phase-I facility will have an annual per-shift production capacity of 2,500 electric buses, which is 50 percent of the planned total capacity of 5,000 buses per year per shift. This COD declaration has also been communicated to the company’s lender, State Bank of India, in compliance with Regulation 30 of SEBI Listing Regulations.

The company’s revenue rose by 25.39 percent from Rs. 524 crore in September 2024 to Rs. 657 crore in September 2025. Meanwhile, the Net profit rose from  Rs. 48 crore to  Rs. 49 crore during the same period.

The company demonstrates strong financial performance with a robust ROCE of 20.5% and ROE of 14.3%, supported by a conservative debt-to-equity ratio of 0.33. Over the past five years, it has achieved impressive profit growth at a CAGR of 123%, while its median sales growth over the last decade stands at 17.9%, reflecting consistent and sustainable business expansion.

Olectra Greentech, incorporated in 2000, is one of India’s leading manufacturers of electric buses, with over eight years of experience in the design, manufacturing, and commercialization of E-buses. The company is also engaged in the production of tippers and composite polymer insulators.

The company operates a greenfield, state-of-the-art plant in Hyderabad with an annual capacity of 5,000 units, scalable to 10,000 units, and produces seven-meter, nine-meter, and twelve-meter electric bus models in India.

In Q2 FY25, the Insulator Division generated Rs. 41.21 crores in revenue, which increased significantly to Rs. 75.37 crores in Q2 FY26, marking an 82.9 percent growth. The e-vehicle division saw revenue growth from Rs. 482.47 crores in Q2 FY25 to Rs. 581.25 crores in Q2 FY26, an increase of 20.5 percent. Overall, the total segmental revenue rose from Rs. 523.67 crores in Q2 FY25 to Rs. 656.62 crores in Q2 FY26, reflecting a 25.4 percent increase.

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