Latest news with #K.V.Pradeep
Hans India
26-05-2025
- Automotive
- Hans India
Olectra Greentech Reports Impressive Growth in Q4 and Full Year 2024-25 Results
Hyderabad: Olectra Greentech Limited (OGL), a prominent electric vehicle manufacturer, has revealed its consolidated financial results for the fourth quarter and full year ending 31 March 2025, showcasing remarkable growth. In the final quarter, Olectra delivered 219 electric vehicles, a notable 67% increase compared to the 131 units delivered in the same period last year. This surge in deliveries contributed to a revenue of ₹448.92 crores for Q4 FY 24-25, representing a 55% increase year-on-year. To date, the company has successfully delivered 2,718 electric vehicles, driven by robust demand, as evidenced by an impressive order backlog of 10,022 bus units. Olectra's EBITDA for Q4 FY 24-25 reached ₹58.35 crores, reflecting a significant 36% increase from the previous fiscal year. Pre-tax profits (PBT) soared to ₹29.25 crores, marking a remarkable 45% growth from last year's ₹20.11 crores. The company's profit after tax (PAT) stood at ₹20.69 crores, up by 39% from ₹14.89 crores a year prior. The earnings per share (EPS) for the year ending 31 March 2025 were reported at ₹16.92, compared to ₹9.36 for the previous year. For the full financial year, Olectra recorded a total revenue of ₹1,801.9 crores, a 56% increase. The EBITDA for the year hit ₹276.32 crores, up by 49%, while PBT surged to ₹187.88 crores, an impressive 78% increase compared to ₹105.78 crores in the prior fiscal year. The PAT for the year was ₹139.21 crores, reflecting a 77% increase from ₹78.65 crores. Commenting on the results, Olectra Greentech Limited's Chairman and Managing Director, Mr K. V. Pradeep, expressed satisfaction with the strong growth in revenue and profitability for both Q4 and the full year. He emphasised the company's commitment to enhancing manufacturing capabilities and technology. Notably, Olectra unveiled its innovative Blade Battery Technology at the Bharat Mobility Global Expo 2025, which promises advanced energy density, quicker charging times, and improved overall performance, safety, and reliability in electric mobility. Mr Pradeep concluded by reaffirming Olectra's dedication to innovation and excellence within the electric mobility sector, setting ambitious benchmarks for the future.
The Hindu
25-04-2025
- Business
- The Hindu
Megha entity launches GFRP rebar as alternative to concrete steel reinforcement
MEIL Group entity Olectra has launched Glass Fiber Reinforced Polymer (GFRP) Rebar as an alternative to concrete steel reinforcement. The launch marks Olectra's official entry into the construction industry. GFRP Rebar not only ensures cost savings and low maintenance but also significantly improves the lifespan of structures. Its applications range from industrial flooring to pavements and bridge decks. It's eco-friendly and non-corrosive properties make it an ideal alternative to steel rebar, especially for marine projects, Chairman and Managing Director K.V. Pradeep said. The GFRP Rebar was launched by MEIL managing director P.V. Krishna Reddy, the company said in a release. The new product is engineered with ECR Glass and Epoxy Resin. Its non-corrosive, non-magnetic, non-conductive and water-resistant properties make it ideal for a wide range of applications, especially in harsh and demanding environment.
Hans India
25-04-2025
- Business
- Hans India
Olectra Launches Revolutionary GFRP Rebar for Enhanced Concrete Reinforcement
Olectra Greentech Limited, a frontrunner in electric mobility solutions in India, has unveiled its groundbreaking Glass Fibre Reinforced Polymer (GFRP) Rebar at the esteemed MEIL Budget Meet. This innovative product represents a significant advancement in concrete reinforcement technology, boasting superior strength, durability, and eco-friendliness. The GFRP Rebar was inaugurated by Mr. P.V. Krishna Reddy, Managing Director of MEIL, alongside Olectra's Chairman and Managing Director, Mr. K.V. Pradeep, and MEIL Group Directors, Mr. C.H. Subbiah and Mr. B. Srinivas Reddy. Crafted using ECR glass and epoxy resin, Olectra's GFRP Rebar delivers remarkable benefits over conventional steel reinforcement, achieving an ultimate tensile strength of 950-1100 MPa—nearly double that of steel. Additionally, it is approximately four times lighter, facilitating easier handling and transportation. Its non-corrosive, non-magnetic, non-conductive, and water-resistant characteristics render it particularly suitable for demanding environments. 'We are thrilled to introduce this revolutionary product, marking Olectra's formal entry into the construction sector. The GFRP Rebar not only contributes to cost savings and lower maintenance but also extends the lifespan of structures. Its applications span industrial flooring, pavements, and bridge decks, making it an excellent alternative to steel rebar, particularly for marine projects,' stated Mr. K.V. Pradeep. Olectra's GFRP Rebar is set to redefine concrete reinforcement in various applications including marine structures, pavements, bridge decks, industrial flooring, precast elements, substation civil structures, and drainage systems. With India consuming nearly 50 million tons of TMT steel rebar in 2024 alone, Olectra's advanced GFRP Rebar presents a robust and sustainable solution to meet the demands of modern infrastructure. Founded in 2000, Olectra Greentech Limited (a publicly listed entity) and part of the MEIL Group, pioneered the introduction of electric buses to India in 2015 and is one of the country's largest manufacturers of silicone rubber/composite insulators for power transmission systems.
