Is Olectra Greentech Share A Good Buy?

If you’ve been glancing over the share market this year, you must have come across the name Olectra Greentech.

Olectra’s share price has jumped over 130% this year. The electric vehicle manufacturer has bagged several new contracts just this year that have helped the shares touch a new all-time high as well. Olectra’s share price had a dismal start to the year, which saw its shares slump to its 52-week low of ₹374.10 on Feb. 23.

However, the stock has not looked back since and even went on to its new all-time high of ₹1,465 in July. So is there more steam left in EV player, we bring you the details to help you make that decision.

Olectra Greentech Limited: Company Background

Olectra Greentech Limited, based in Hyderabad, India, is one of the largest manufacturers of electric buses in the country. The company is said to be the first-ever manufacturer of electric buses and has manufacturing facilities in Hyderabad. Olectra is now expanding its product line to include three-wheeled electric autos and electric trucks in the e-mobility sector.

Olectra Greentech Limited is a publicly listed company and is presently traded on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). You can check the Olectra share price on both the BSE and NSE’s websites. The small-cap company is headed by Venkateswara Pradeep Karumuru and has a market cap of over ₹5,000 Crore.

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Olectra Greentech Share Price History And Shareholding Pattern

As per the latest shareholding data, the company’s promoters held around 50% shares of Olectra Greentech. Around 9% stake was held by Foreign Institutional Investors and the remaining 41% shares of Olectra Greentech were held by the public.

Talking about Olectra Greentech’s share price history, the stock came into focus only in the past two-three years. In fact, the stock turned multibagger in 2020-2021 when it surged over 1,000%. The share that was trading at around ₹60 in late 2020, surged up to ₹700 in late 2021.

Olectra Greentech share price’s trajectory over the last year.

Now, with the boom in electric vehicles, the company continues to make headlines. Olectra’s share price did an absolute turnaround just this year. The stock had slumped to its 52-week low of ₹374.35 in late February 2023, but after the company launched its Hydrogen bus in partnership with Mukesh Ambani’s Reliance Industries Ltd., Olectra share price went on to hit its 52-week high of ₹743.50 just three weeks later.

Olectra Greentech Fundamentals

June Quarter of FY24

ParticularsApril-June (2023)April-June (2022)
Revenue216 crore283.6 crore
EBITDA42 crore36.1 crore
EBITDA Margin19.5%12.85%
Net Profit18.1 crore16.6 crore
All numbers are in ₹.

As the table depicts, the company’s revenue did take a hit during the first quarter of FY24, but all other metrics saw an uptick.

Past Three Years

The company’s net profits have shown healthy growth over the past three financial years. The EV manufacturer’s FY23 revenue almost doubled to ₹1,100 crore with pofits soaring to 65.6 crore. In FY 2022, its net profits quadrupled to ₹35.4 crore. Talking about the company’s revenue, its total revenue for FY22 stood at ₹601 crore more than double the ₹292.9 crore revenue it booked in FY21.

Olectra Greentech Dividends

The company last paid out a cash dividend of ₹0.40 per share in September 2023. It had also paid a ₹0.40 per share dividend last September. Olectra hadn’t paid any dividends for a decade before this. It paid out ₹0.20 per share in dividends in September 2012.

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Posted In: electric vehiclesEVsOlectra Greentech