India’s shift toward electric public transport is creating fresh opportunities for Olectra Greentech Ltd, which is entering FY27 with a large order backlog and plans to expand beyond buses.
The company is targeting around 2,500 vehicle deliveries in FY27, almost double the 1,280 electric buses delivered in FY26.
Management expects deliveries to improve gradually during the year, although geopolitical developments and supply-chain disruptions remain potential risks.
Revenue growth in FY26
Olectra Greentech reported revenue of around ₹2,312 crore during FY26.
Higher deliveries could support further growth and improve capacity utilisation.
New electric bus platform planned
The company is preparing to launch a next-generation electric bus platform in Q3 FY27.
The platform is being developed to cater to demand under the government’s PM eBus Sewa initiative.
Management expects significant opportunities from upcoming tenders.
Potential orders include:
- Around 4,600 buses under PM eBus Sewa.
- Another 2,000 buses through state-level procurements.
The company also expects at least 10,000 electric bus tenders to be floated over the next 12 months.
According to management, state transport undertakings are increasingly opting for electric buses because of:
- Lower lifecycle costs.
- Better charging infrastructure.
- Improved operational readiness.
Entry into electric truck segment
Olectra Greentech is also expanding into electric trucks.
The company plans a commercial launch in the fourth quarter of FY27.
Unlike earlier pilot projects, the upcoming platform is expected to be based on the company’s own technology and product architecture.
The move will broaden the company’s presence beyond public transport and provide exposure to the electric commercial vehicle market.
Order book offers revenue visibility
One of the company’s biggest strengths is its order pipeline.
Olectra Greentech has an order book of more than 10,000 electric vehicles.
The backlog provides visibility for future revenues and supports production planning and capacity expansion.
It also reduces demand uncertainty and supports the company’s FY27 delivery target.
Industry tailwinds remain supportive
Electric bus penetration in India remains below 5%, leaving room for further growth.
Management highlighted rising demand in the:
- 9-metre bus segment
- 12-metre bus segment
The industry continues to benefit from:
- Government-backed electrification programmes.
- Stricter emission norms.
- Incentives for EV adoption.
- Lower operating costs.
- Advances in battery technology.
Outlook
Olectra Greentech enters FY27 with multiple growth drivers.
Key factors supporting the business include:
- Order backlog of more than 10,000 vehicles.
- Delivery target of 2,500 vehicles.
- Launch of a new electric bus platform in Q3 FY27.
- Entry into the electric truck market in Q4 FY27.
- Continued growth in electric public transportation.
These initiatives are expected to strengthen the company’s position in India’s electric commercial vehicle market.
TL;DR
Olectra Greentech plans to deliver 2,500 vehicles in FY27 and launch both a new electric bus platform and an electric truck business. The company has an order book of over 10,000 vehicles, providing visibility for future growth.
AI summary
- Olectra Greentech delivered 1,280 buses in FY26.
- The company targets 2,500 deliveries in FY27.
- A new electric bus platform is scheduled for Q3 FY27.
- Electric truck operations are expected to begin in Q4 FY27.
- Order backlog exceeds 10,000 vehicles.