Today We discuss about a new multibagger stocks i.e Olectra Greentech. Check Out Olectra Greentech Share Price Target 2024-25, Fundamentals, Olectra Greentech Quarterly Results & Order Book .
Olectra Greentech Limited began operations in 2000. The Company focuses on producing composite polymer insulators and electric buses. Its registered office located in Hyderabad. Olectra launched E Bus V2, X2, iX, and CX2 models. The firm gets lots of orders regularly. Its stock performs pretty well too.
Olectra Greentech Overview
Contents
Olectra Greentech Limited stands as India’s largest manufacturer of Electric Buses, with manufacturing facilities situated in Hyderabad, India.
OGL is a publicly listed company, trading on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). With ISO-9001:2008 certification, OGL maintains high standards, while its R&D Centre holds recognition from the Department of Scientific and Industrial Research, Government of India.
| Company Name | Olectra Greentech |
| Listed at | NSE & BSE |
| Head Office | S-22, 2 & 3rd Floor, Technocrat Industrial Estate, Balanagar, Hyderabad – 500037 |
| Board Of Directors | – Mr. Venkateswara Pradeep Karumuru (Chairman & Managing Director) |
| – Mrs. Chintalapudi Lakshmi Kumari (Independent Director) | |
| – Mr. M. Gopalakrishna (Independent Director) | |
| – Justice Mrs. Gyan Sudha Misra (Retd.) (Independent Director) | |
| – Mr. B. Appa Rao (Independent Director) | |
| – Mr.Peketi Rajesh Reddy (Non – Executive Director) | |
| Official Website | https://olectra.com/ |
Olectra Greentech Business
Olectra has produced and deployed all variants of Electric Buses across the India. Following its success in the commercial operation of electric buses, the company is now expanding its product range in the e-mobility sector to include electric trucks and electric tippers.
The company produces seven-meter, nine-meter, and twelve-meter models of air-conditioned electric buses in India. Its manufacturing facilities are based in Hyderabad, boasting a production capacity of 1500 units per year.
Olectra Greentech, in collaboration with Reliance, introduced a Hydrogen Bus, offering a carbon-free alternative to conventional public transportation. Olectra Greentech, in collaboration with Reliance, introduced a Hydrogen bus, offering a carbon-free public transportation.
Must Check Vikas Life Care Fundamental
Olectra Greentech Order Book
Sharat Chandra inform market that OGL delivered 1,564 electric buses and 51 electric tippers during financial year 2023-24 (till 31st December2023). Olectra Greentech’s net order book of electric buses, stands at 8,088.
On 22 Feb 2024, Olectra Greentech secured a contract worth Rs 4,000 crore from Brihan Mumbai Electric Supply & Transport Undertaking (BEST/ Authority) for the supply, operation, and maintenance of 2,400 electric buses under a gross cost contract arrangement.
You may Check GRSE Order Book
Opportunity in EV Sector
Electric vehicles (EVs) will impact the auto industry a lot soon. India’s automobile industry is large, ranking fifth worldwide. By 2030, it may become third largest. In most countries, the penetration of e-buses remains below 10%, with the exception of China, where it stands at 26%. In India, e-bus penetration is at 4%, with sales exceeding 1176 buses.
The Indian Electric Vehicle (EV) industry will grow at a CAGR of 36%. India import almost 80% of its crude oil needs. NITI Aayog aims to achieve 70% EVs for commercial cars, 30% for private cars, 40% for buses, and 80% for two/three-wheelers, by 2030.
For that Mission, The government allocated ₹ 895 crores for FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles). This investment significantly increased to a huge ₹ 10,000 crores in FAME-II. Additionally, there’s an another supportive policy of ₹ 105 crores for purchasing electric vehicles for mass transportation under the Smart Cities Mission 2015.
Olectra Greentech Financial & Fundamentals
| Market Cap | ₹ 15,766 Cr. |
| Current Price | ₹ 1,921 |
| High / Low | ₹ 2,222 / ₹ 620 |
| Stock P/E | 175 |
| Book Value | ₹ 106 |
| Dividend Yield | 0.02 % |
| ROCE | 13.3 % |
| ROE | 8.11 % |
| Face Value | ₹ 4.00 |
| Debt to equity | 0.15 |
| Debt Capacity | 0.00 |
| Debt preceding year | ₹ 67.1 Cr. |
| Debt | ₹ 131 Cr. |
| Reserves | ₹ 840 Cr. |
| EPS | ₹ 11.0 |
| EPS last year | ₹ 7.99 |
| Pledged percentage | 0.00 % |
| FCF Prev Ann | ₹ 53.5 Cr. |
| EVEBITDA | 80.8 |
| Industry PE | 37.7 |
| PEG Ratio | 3.56 |
| Piotroski score | 4.00 |
| Earnings yield | 1.01 % |
| Sales growth 5Years | 46.5 % |
Olectra Greentech, a mid-cap firm, with ₹ 15766 crores market cap in March 2024. It has EPS (earnings per share)₹ 11 , it allocates ₹ 11 for every individual share – a high EPS signaling good profitability. However, its 175 price-to-equity ratio (P/E) substantially exceeds the 37.7 industry average.
Quarterly Results
| Period | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|---|---|---|---|
| Sales + | 281 | 177 | 256 | 376 | 216 | 307 | 342 |
| Expenses + | 245 | 157 | 221 | 326 | 176 | 267 | 293 |
| Operating Profit | 36 | 20 | 35 | 50 | 40 | 41 | 49 |
| OPM % | 13% | 11% | 14% | 13% | 19% | 13% | 14% |
| Other Income + | 3 | 6 | 2 | 2 | 1 | 5 | 7 |
| Interest | 8 | 7 | 8 | 8 | 7 | 10 | 13 |
| Depreciation | 8 | 8 | 8 | 9 | 9 | 9 | 9 |
| Profit before tax | 23 | 11 | 20 | 35 | 25 | 27 | 34 |
| Tax % | 27% | 33% | 25% | 22% | 28% | 30% | 20% |
| Net Profit + | 17 | 7 | 15 | 28 | 18 | 19 | 27 |
| EPS in Rs | 2.03 | 0.92 | 1.75 | 3.29 | 2.20 | 2.20 | 3.29 |
CAGR Report
| Compounded Sales Growth | 32% | 47% | 76% | 26% |
| Compounded Profit Growth | 41% | 49% | 200% | 60% |
| Stock Price CAGR | 73% | 52% | 107% | 192% |
| Return on Equity | 10% | 5% | 3% | 8% |
| Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | |
|---|---|---|---|---|---|---|---|
| Promoters + | 50.02% | 50.02% | 50.02% | 50.02% | 50.02% | 50.02% | 50.02% |
| FIIs + | 9.02% | 10.41% | 9.44% | 9.03% | 8.55% | 8.01% | 7.78% |
| DIIs + | 0.03% | 0.04% | 0.09% | 0.11% | 0.11% | 0.14% | 0.15% |
| Public + | 40.93% | 39.54% | 40.45% | 40.85% | 41.33% | 41.84% | 42.04% |
| No. of Shareholders | 129,448 | 132,567 | 143,707 | 160,796 | 198,035 | 342,955 | 359,083 |
The OGL’s promoters maintain a 50.02% ownership stake, while retail investors hold 42.02%. FIIs hold 7.78%, and DIIs hold 0.15% stake. The promoter did not pledge their stakes. FIIs decreased their stake in the OGL from 10.41% to 7.78% from Sep 2022 to Dec 2023.
| Year | Lower Targets | Higher Targets |
|---|---|---|
| 2024 | ₹2,810 | ₹3120 |
| 2025 | ₹3,950 | ₹4,430 |
| 2026 | ₹4,940 | ₹5,950 |
| 2027 | ₹6060 | ₹7,570 |
| 2028 | ₹7180 | ₹9090 |
| 2029 | ₹8,110 | ₹10,720 |
| 2030 | ₹9,130 | ₹12,340 |
| 2031 | ₹10,440 | ₹13,850 |
| 2032 | ₹11,360 | ₹15,450 |
| 2035 | ₹14,470 | ₹20,160 |
The company will expand, as bus demand rises steadily. Electric vehicles are the future. In 2023, orders equaled the firm’s market cap – a value set to grow constantly. The firm received huge bus orders worth its entire market capitalization last year. Impressively, this pattern will continue indefinitely, driven by increasing need for public transportation. Olectra Greentech share price can increase to ₹3,120 in the coming 1 year.
| Months | Target Prices |
|---|---|
| January | 3200 |
| February | 3150 |
| March | 3050 |
| April | 3100 |
| May | 3300 |
| June | 3450 |
| July | 3600 |
| August | 3550 |
| September | 3600 |
| October | 3800 |
| November | 4000 |
| December | 4200 |
| Months | Target Prices |
|---|---|
| January | 4350 |
| February | 4280 |
| March | 4150 |
| April | 4200 |
| May | 4355 |
| June | 4500 |
| July | 4750 |
| August | 4900 |
| September | 5100 |
| October | 5300 |
| November | 5600 |
| December | 5950 |
| Months | Target Prices |
|---|---|
| January | 6200 |
| February | 5005 |
| March | 4500 |
| April | 5500 |
| May | 6500 |
| June | 7000 |
| July | 6800 |
| August | 6000 |
| September | 6300 |
| October | 6600 |
| November | 7000 |
| December | 7570 |
| Months | Target Prices |
|---|---|
| January | 7700 |
| February | 7600 |
| March | 7500 |
| April | 7550 |
| May | 8000 |
| June | 8400 |
| July | 8600 |
| August | 8540 |
| September | 8800 |
| October | 8500 |
| November | 8700 |
| December | 9090 |
| Months | Target Prices |
|---|---|
| January | 9200 |
| February | 8900 |
| March | 8700 |
| April | 9000 |
| May | 9400 |
| June | 9800 |
| July | 10000 |
| August | 9700 |
| September | 9400 |
| October | 8878 |
| November | 9700 |
| December | 10720 |
| Months | Target Prices |
|---|---|
| January | 10800 |
| February | 10500 |
| March | 10000 |
| April | 10400 |
| May | 10600 |
| June | 10989 |
| July | 11300 |
| August | 11400 |
| September | 11600 |
| October | 11700 |
| November | 12000 |
| December | 12340 |
Future Plans Of Olectra Greentech
OGL is in the process of establishing a new greenfield plant with an initial capacity of 5,000 units annually, expandable to 10,000 units. For this purpose, 150 acres land acquired in Hyderabad. This new facility will raise output by 5,000 electric cars annually, potentially reaching 10,000 units. Additionally, the E-tipper prototype is undergoing testing before an imminent launch.
Visit Official Website for more Update – https://olectra.com/
Disclaimer:-
The information provided on https://stocktrend.in/ is for educational and informational purposes only. It should not be construed as financial advice or as a recommendation to buy, sell, or hold any particular investment or security.
We are not licensed financial advisors or registered investment advisors. Any investment decisions made based on the information provided on this blog are solely the responsibility of the individual investor. It is recommended that you consult with a qualified financial advisor or investment professional before making any investment decisions. For More Information Read Complete Disclaimer
FAQs
Is Olectra Greentech a good buy?
Olectra Greentech being one of the top 35% companies with good fundamentals suggests that it may have strong financials, sound management, and positive growth prospects compared to its peers.
Is Olectra a Chinese company?
No, Olectra Greentech is not a Chinese company. OGL is the India’s largest Pure Electric Bus manufacturer operating manufacturing facilities at Hyderabad, India.
What can we expect regarding Olectra Greentech’s future growth?
Olectra Greentech is projected to experience a robust growth in earnings and revenue, with anticipated annual increases of 57% and 49.3% respectively.
With whom does Olectra Greentech Partnership?
Olectra Greentech is in technical partnership with Reliance.
