BAJAJ BROKING

Notification close image
No new Notification messages
card image
Monika Alcobev IPO is Open!
Apply for the Monika Alcobev IPO through UPI in just minutes.
delete image
card image
Start your SIP with just ₹100
Choose from 4,000+ Mutual Funds on Bajaj Broking
delete image
card image
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
delete image
card image
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
delete image
card image
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.
delete image

Olectra Greentech Share Price in Focus After E-Bus Tender Cancellation

Synopsis:

Olectra Greentech is under pressure as Maharashtra orders cancellation of its Rs.10,000 crore electric bus contract. The company failed to deliver 1,000 buses by May 22. Despite strong Q4 results, the stock is down 9.2% year-to-date.


Shares of electric mobility player Olectra Greentech Ltd. are likely to remain in focus after Maharashtra’s Transport Minister directed officials to cancel a large electric bus tender. The Rs.10,000 crore deal involved the supply and maintenance of 5,150 e-buses over a 12-year contract period, but the company failed to meet revised delivery schedules.

Also read: Rakesh Gangwal To Sell 3.4% IndiGo Stake At Rs.5,175 Via Block Deal

OLECTRA GREENTECH LIMITED

Trade

1283.78.39 (0.65 %)

Updated - 18 July 2025
1296.00day high
DAY HIGH
1248.20day low
DAY LOW
246180
VOLUME (BSE)

Key Takeaways

  1. Maharashtra Transport Minister has ordered cancellation of the 5,150 e-bus order.

  2. The revised target was to deliver 1,000 buses by May 22, but none were delivered.

  3. The Rs.10,000 crore contract was awarded in July 2023 to a consortium led by Olectra Greentech.

  4. Olectra Greentech share price had surged 20% after the announcement in July but is now down 40% from its peak.

  5. The company posted strong Q4 earnings, with 58% revenue growth and doubling of net profit.

  6. An analyst call is scheduled for May 28 to address earnings and ongoing concerns.

Also read: 360 One Wam, Amber, Kfin Tech, PG Electroplast Added to NSE F&O

Contract Background and Delivery Miss

In July 2023, the Maharashtra State Road Transport Corporation (MSRTC) issued a Letter of Intent (LoI) to a consortium of Olectra Greentech and Evey Trans Pvt. Ltd. to lease 5,150 electric buses. The buses were to be supplied within 24 months, with full maintenance handled by Olectra for the next 12 years. However, as of the revised May 22, 2025 deadline, no buses had been delivered, prompting government action.

Financial Performance Remains Strong

Despite recent setbacks, Olectra Greentech delivered strong financials for the January–March 2025 quarter. Its revenue grew by 58% year-on-year, net profit doubled, and EBITDA rose by 70%. Margins also improved by 100 basis points. An earnings call is scheduled for May 28 at 4:30 PM to address these numbers and possibly the status of the contract.

Shareholding Structure and Market Performance

Promoter Megha Engineering and Infrastructure Ltd. holds a 50% stake in the company. Around 5.2 lakh small shareholders account for 36.05% of shareholding. Despite a 13% rise in the last month, Olectra Greentech share price is down 9.2% in 2025.

Contract Overview Table

Category

Details

Total Order Value

Rs.10,000 crore

Number of Buses

5,150

Delivery Timeline

July 2023 to July 2025

Revised Deadline for 1,000

May 22, 2025

Buses Delivered (as of May 22)

0

Contract Duration

12 years (including maintenance)

Market Outlook and Analyst Attention

As the situation unfolds, investors will closely watch the company’s upcoming analyst call and any formal statement regarding the tender. The recent order cancellation adds uncertainty, and the Olectra Greentech share price may experience short-term volatility depending on the company’s response and future course of action.

Olectra Greentech now faces the challenge of restoring investor confidence after missing key delivery milestones in a landmark e-bus project. While the company’s financials remain robust, the cancellation of the Rs.10,000 crore order may weigh heavily on the Olectra Greentech share price until further clarity emerges.

Also read: PG Electroplast Promoters To Sell 5.62% Stake To Raise Rs.1,177 Crore

Share this article: 

Read More Blogs

Disclaimer :

The information on this website is provided on "AS IS" basis. Bajaj Broking (BFSL) does not warrant the accuracy of the information given herein, either expressly or impliedly, for any particular purpose and expressly disclaims any warranties of merchantability or suitability for any particular purpose. While BFSL strives to ensure accuracy, it does not guarantee the completeness, reliability, or timeliness of the information. Users are advised to independently verify details and stay updated with any changes.

The information provided on this website is for general informational purposes only and is subject to change without prior notice. BFSL shall not be responsible for any consequences arising from reliance on the information provided herein and shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability. Interest rates, fees, and charges etc., are revised from time to time, for the latest details please refer to our Pricing page.

Neither the information, nor any opinion contained in this website constitutes a solicitation or offer by BFSL or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service.

BFSL is acting as distributor for non-broking products/ services such as IPO, Mutual Fund, Insurance, PMS, and NPS. These are not Exchange Traded Products. For more details on risk factors, terms and conditions please read the sales brochure carefully before investing.

Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

[ Read More ]

For more disclaimer, check here : https://www.bajajbroking.in/disclaimer

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

10 lakh+ Users

icon-with-text

4.2 App Rating

icon-with-text

4 Languages

icon-with-text

₹5600+ Cr MTF Book

icon-with-text
banner-icon

Open Your Free Demat Account

Enjoy low brokerage on delivery trades

+91

|

Please Enter Mobile Number

Open Your Free Demat Account

Enjoy low brokerage on delivery trades

+91

|