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Business Standard
27-05-2025
- Business
- Business Standard
Olectra Greentech shares tank 12% in trade; What is rattling investors?
Olectra Greentech share price slumped 12 per cent in trade on Tuesday, May 27, 2025, logging an intraday low at ₹1,180 per share on BSE. At 12:07 PM, Olectra Greentech shares were down 5.89 per cent at ₹1,266.05 per share on the BSE. In comparison, the BSE Sensex was down 0.18 per cent at 82,024.78. The market capitalisation of the company stood at ₹10,391.83 crore. The 52-week high of the stock was at ₹1,960 per share and the 52-week low of the stock was at ₹973.65 per share. In the past one year, Olectra Greentech shares lost 26 per cent as compared to Sensex's rise of 9 per cent. Olectra Greentech Q4 results 2025 The company released its March quarter (Q4FY25) earnings on Monday, after market hours. The electric bus manufacturer reported a consolidated net profit of ₹20.68 crore, up 38 per cent year-on-year (Y-o-Y), from ₹14.9 crore in Q4FY24. However, on a quarter-on-quarter (Q-o-Q) basis the net profit slipped 56 per cent from ₹46.61 crore in Q3FY25. The company's revenue from operations rose 55 per cent Y-o-Y to ₹448.91 crore, from ₹288.8 crore a year ago. On a Q-o-Q basis, the revenue fell 13 per cent from ₹515 crore in Q3. Olectra Greentech dividend The company's board recommended a dividend of ₹0.4 (10 per cent) per equity share of ₹4 each for the financial year 2024-25. "The board of directors of the company in their meeting held on May 26, 2025, have recommended the final dividend at the rate of 10 per cent (i.e. ₹0.40/- only) per equity share of ₹4.00/- (Rupees Four only) each fully paid-up, subject to approval of the shareholders of the company, which if approved, shall be paid within thirty days from the conclusion of the Annual General Meeting of the company," the filing read. Olectra Greentech order cancelled Reports suggest that Maharashtra's Transport Minister, Pratap Sarnaik directed officials to cancel the tender order awarded to the company for failing to meet delivery timelines. In his 'X' post the minister without naming the company said the company has been inactive in supplying 5,150 leased electric buses and the meeting is directed at taking action to cancel the tender contract signed by ST Corporation with the company. He added: A revised schedule was given to the concerned bus supplier organization to supply 1,000 buses by May 22. But it was not possible to supply a single bus to the concerned company till this period. Therefore, there is doubt about the supply of buses by this organization in the future. ???? २६ मे २०२५ | ????मुंबई भाडेतत्त्वावरील इलेक्ट्रिक बस करार रद्द करा ५१५० भाडेतत्त्वावरील इलेक्ट्रिक बस पुरवठा करण्यात संबंधित कंपनी निष्क्रिय ठरली असून या कंपनीसोबत एसटी महामंडळाने केलेला निविदा करार रद्द करण्याबाबत कारवाई करावी असे निर्देश बैठकीत दिले. आज एस. टी. महामंडळाच्या… — Pratap Baburao Sarnaik (@PratapSarnaik) May 26, 2025 About Olectra Greentech Olectra Greentech Ltd. is a prominent player in India's EV sector, specialising in the production of electric buses and related infrastructure.
India Today
27-05-2025
- Business
- India Today
Olectra Greentech shares tumble nearly 7% in early trade. Here's why
Olectra Greentech shares dropped sharply on Tuesday morning after Maharashtra's Transport Minister Pratap Baburao Sarnaik publicly called for the cancellation of a major electric bus tender, citing the company's failure to meet revised delivery 9:18 AM, Olectra's stock was down 6.37% at Rs 1,259.60 on the BSE. The fall followed the minister's post on X (formerly Twitter), where he claimed that not a single bus had been delivered under a revised schedule that required 1,000 buses to be supplied by May 22. 'Therefore, it was decided that the tender agreement with the company should be cancelled,' he Rs 10,000 crore contract in question was awarded in July 2023 to a consortium of Olectra and Evey Trans Private Ltd by the Maharashtra State Road Transport Corporation (MSRTC). It involved the supply, operation, and maintenance of 5,150 electric buses over 24 months under a gross cost contract. Olectra was to manufacture and supply the buses and handle maintenance throughout the period. In its FY24 annual report, Olectra hailed this as the world's largest electric bus order and noted an order book of 10,969 units as of March 31, 2024. The company was also eyeing further expansion with fresh government the controversy, Olectra posted strong Q4 earnings on Monday. Net profit rose 39% year-on-year to Rs 20.69 crore, while revenue climbed 55% to Rs 448.92 company also recommended a final dividend of Rs 0.40 per share for FY25, subject to shareholder the political intervention and concerns over delivery commitments have raised fresh doubts among investors. The stock, which has delivered over 2,250% returns in the last five years, has lost about a quarter of its value over the past year.
