Olectra Q2 profit rises 5% as revenue reaches Rs 687.0114 crore

Olectra Greentech Limited reported consolidated net profit of Rs 52.1222 crore for the quarter ended 30 September 2026, up 5% from Rs 49.4331 crore a year earlier, as revenue from operations reached Rs 687.0114 crore and Mobility Division revenue rose sequentially to Rs 588.9707 crore.

How did Olectra perform in the September 2026 quarter?

Olectra increased both consolidated revenue and profit in the quarter ended 30 September 2026. Revenue from operations was Rs 687.0114 crore, compared with Rs 656.6234 crore in the quarter ended 30 September 2025 and Rs 575.5064 crore in the quarter ended 30 June 2026. Total income, including other income, was Rs 702.0347 crore, versus Rs 660.9467 crore a year earlier and Rs 577.6498 crore in the preceding quarter.

Net profit after tax was Rs 52.1222 crore, compared with Rs 49.4331 crore in the year-earlier quarter and Rs 26.6632 crore in the June 2026 quarter. Profit before tax rose to Rs 72.738 crore from Rs 68.4569 crore a year earlier and Rs 34.6905 crore sequentially. Tax expense was Rs 20.6158 crore, compared with Rs 19.0238 crore in the September 2025 quarter and Rs 8.0273 crore in the June 2026 quarter.

Olectra’s total expenses increased to Rs 632.3913 crore from Rs 591.9949 crore a year earlier, while total income increased by Rs 41.088 crore over the same comparison. Cost of materials consumed was Rs 532.7673 crore, compared with Rs 507.4084 crore in the year-earlier quarter and Rs 435.5311 crore in the June quarter. Finance costs were Rs 22.045 crore, higher than Rs 13.8277 crore a year earlier but lower than Rs 23.5934 crore sequentially.

Which division drove Olectra’s quarterly revenue?

Olectra’s Mobility Division generated Rs 588.9707 crore of revenue in the September 2026 quarter, representing roughly 86% of consolidated revenue from operations of Rs 687.0114 crore. Mobility revenue rose from Rs 494.6259 crore in the June 2026 quarter and Rs 581.2546 crore in the September 2025 quarter. The filing says the earlier Insulator and Electric Vehicles division has been renamed the Mobility Division, which includes e-buses and e-trucks.

Mobility Division profit before tax and interest was Rs 71.2732 crore, compared with Rs 40.4317 crore in the preceding quarter and Rs 57.1399 crore a year earlier. Aggregate segment profit before tax and interest was Rs 94.783 crore in the September 2026 quarter, including Rs 23.5098 crore from the Energy Division. After finance costs of Rs 22.045 crore, consolidated profit before tax was Rs 72.738 crore.

The Energy Division reported revenue of Rs 98.0407 crore, compared with Rs 80.3805 crore in the June 2026 quarter and Rs 75.3683 crore a year earlier. Its segment profit before tax and interest increased sequentially from Rs 17.8522 crore to Rs 23.5098 crore, but remained below Rs 25.1447 crore in the September 2025 quarter. Both divisions recorded higher sequential revenue, while Mobility supplied the larger part of segment revenue and profit.

Mobility segment assets were Rs 2,412.251 crore at 30 September 2026, compared with Rs 2,156.8498 crore at 30 June 2026 and Rs 1,991.8412 crore at 30 September 2025. Segment liabilities were Rs 1,343.5037 crore at the latest quarter-end, producing reported capital employed of Rs 1,068.5473 crore. That was above Rs 980.8608 crore at 30 June 2026.

What did Olectra report for the six months ended September 2026?

Olectra reported revenue from operations of Rs 1,262.5178 crore and net profit after tax of Rs 78.7854 crore for the six months ended 30 September 2026. In the six months ended 30 September 2025, revenue from operations was Rs 1,003.8469 crore and net profit was Rs 75.4608 crore. Profit before tax increased to Rs 107.4285 crore from Rs 102.2564 crore across the two periods.

Mobility revenue for the six-month period was Rs 1,083.5966 crore, compared with Rs 873.4962 crore a year earlier. Mobility segment profit before tax and interest rose to Rs 111.7049 crore from Rs 84.6635 crore. Energy Division revenue increased to Rs 178.9212 crore from Rs 130.3507 crore, although its segment profit before tax and interest declined to Rs 41.362 crore from Rs 43.3316 crore.

The group’s share of profit from associates was Rs 5.6234 crore for the six months ended 30 September 2026, compared with Rs 2.3128 crore in the comparable period. In the September quarter, the share of profit was Rs 3.0946 crore, against a share of loss of Rs 0.4949 crore a year earlier. The consolidated accounts include one subsidiary, one joint venture and eight associates listed in the filing.

What do Olectra’s cash flow and balance sheet show?

Olectra generated net operating cash flow of Rs 190.3115 crore in the six months ended 30 September 2026, compared with net operating cash used of Rs 30.9696 crore a year earlier. The filing records a Rs 263.2906 crore increase in trade receivables and a Rs 25.0661 crore increase in inventories. These were partly offset by increases of Rs 203.6568 crore in other current liabilities and Rs 112.7273 crore in trade payables.

Trade receivables stood at Rs 1,250.5172 crore at 30 September 2026, up from Rs 987.2266 crore at 31 March 2026. Inventories rose to Rs 271.9955 crore from Rs 246.9294 crore, while current assets rose to Rs 2,019.711 crore from Rs 1,734.1228 crore. Current liabilities increased to Rs 1,366.3149 crore from Rs 1,100.8345 crore over the same six-month period.

Capital expenditure on property, plant and equipment and intangible assets, including capital work in progress, was Rs 44.1843 crore in the six months ended 30 September 2026, below Rs 88.2299 crore a year earlier. Net financing cash outflow was Rs 150.9089 crore, including net repayments of Rs 96.5754 crore in short-term borrowings and Rs 8.6951 crore in long-term borrowings. Cash and cash equivalents ended the period at Rs 7.3059 crore, compared with Rs 9.6319 crore at 31 March 2026.

How were Olectra’s results reviewed?

Olectra’s consolidated financial results for the quarter and six months ended 30 September 2026 were unaudited and subject to a limited review by Sarath & Associates, dated 9 November 2026. The auditor said nothing had come to its attention to indicate that the statement failed to make required disclosures under Regulation 33 of the Securities and Exchange Board of India listing regulations, or contained a material misstatement.

The auditor said one subsidiary and one joint venture had total assets of Rs 88.1714 crore at 30 September 2026 and had not been reviewed by other auditors or by the reporting auditor. Those entities recorded revenue of Rs 9.8333 crore in the quarter and a net loss after tax of Rs 1.0154 crore. The auditor’s conclusion was not modified in respect of this matter.

The filing also says consolidated revenue and profit exclude sales of buses by Olectra to its subsidiaries. The subsidiaries earn revenue by operating those buses for STUs, as described in the filing, and capitalise the buses in their books. Olectra therefore states that consolidated revenue and profit may be lower than its standalone figures.

Conclusion

Olectra’s September 2026 quarter combined higher year-on-year revenue and net profit with a sequential recovery in Mobility Division revenue and segment profit. Revenue from operations increased to Rs 687.0114 crore, while net profit rose to Rs 52.1222 crore; Mobility contributed Rs 588.9707 crore of revenue and Rs 71.2732 crore of segment profit before tax and interest.

The next reported results will show whether trade receivables, which reached Rs 1,250.5172 crore at 30 September 2026, continue to rise alongside revenue and whether operating cash flow remains positive after Rs 190.3115 crore in the first half. The filing provides no revenue guidance, order target or scheduled operating milestone for a later period.