Unlocking Growth with #Olectra Greentech in the Green Energy

Accelerating ahead for next gen-transport system
Olectra Greentech Ltd. (OGL), is a subsidiary of Megha Engineering and
Infrastructures Ltd. (MEIL). The company is primarily engaged in the
manufacturing of electric buses and composite polymer insulators.
• EV adoption in buses is likely to speed up in the current year, and the center
plans to procure 50,000 buses with an investment outlay of Rs.1,000 cr.
• Olectra bags the biggest ever order of 2,100 electric buses worth Rs.3,675 cr.
The company received this order from BEST (Brihanmumbai Electric Supply
and Transport), Mumbai.
• The technical partnership between Olectra and Reliance on the Hydrogen Bus
project is officially expected to launch next year.
• With the formation of a JV with BYD (Build Your Design) China for electric
buses, the company is expanding its product line in the e-mobility segment
for 3-wheeler electric autos and electric truck tippers.
• We initiate OGL with a target of Rs.738, at 35x FY25E EPS. Recommend
Accumulate rating, considering capacity expansion & strong earnings growth.

Disclaimer: this is my personal view and not a buy/sell recommendation. I am not SEBI registered.