Olectra to launch next-generation electric buses in Q4 FY27
Hyderabad, Nov 9 (TNT): Electric vehicle manufacturer Olectra Greentech Limited (OGL), an MEIL Group company, will introduce its next-generation electric buses in the fourth quarter of the current financial year, Managing Director Mahesh Babu said on Monday.
The new models are being developed with an emphasis on localisation and will cater to both domestic and international markets, he said in a statement.
The announcement comes as the Hyderabad-headquartered company reported an 18 per cent increase in earnings before interest, taxes, depreciation and amortisation (EBITDA) to Rs 109.89 crore in the second quarter of FY27.
Olectra’s revenue increased 5 per cent to Rs 687.01 crore in the quarter ended September 2026, compared with Rs 656.62 crore in the corresponding period of the previous year.
Profit after tax rose 5 per cent to Rs 52.12 crore from Rs 49.43 crore.
Mahesh Babu said the quarterly performance reflected growth in revenue, vehicle deliveries and profitability, while the improvement in EBITDA highlighted the company’s focus on operational efficiency.
Olectra delivered 401 electric vehicles during the quarter, against 375 in the corresponding period last year, registering a growth of 7 per cent. Its deliveries during the first half of FY27 stood at 759 vehicles.
The company’s cumulative electric vehicle deliveries have crossed 4,750, with its buses operating in 55 cities and covering more than 750 million green kilometres. Its order book comprises over 8,000 electric buses.
Incorporated in 2000, Olectra manufactures electric buses and trucks and launched India’s first electric bus in 2016.
Its manufacturing and research facility at Seetharampur near Hyderabad, spread over 150 acres, has an annual production capacity of 5,000 vehicles.
The company has also introduced a heavy-duty 6×4 electric tipper, Olectra Meghaetron, and electric commercial vehicle platforms powered by BYD Blade Battery technology.
Olectra said it would focus on executing its existing orders, strengthening manufacturing capabilities and developing new products to address the growing demand for electric mobility in domestic and international markets.
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