Accumulate Olectra Greentech; goal of Rs 738: Geojit

Geojit’s analysis report on Olectra Greentech

Olectra Greentech Ltd. (OGL), is a subsidiary of Megha Engineering and Infrastructures Ltd. (MEIL). The corporate is primarily engaged within the manufacturing of electrical buses and composite polymer insulators. EV adoption in buses is prone to pace up within the present 12 months, and the middle plans to obtain 50,000 buses with an funding outlay of Rs.1,000 cr. Olectra luggage the largest ever order of two,100 electrical buses price Rs.3,675 cr. The corporate acquired this order from BEST (Brihanmumbai Electrical Provide and Transport), Mumbai. The technical partnership between Olectra and Reliance on the Hydrogen Bus challenge is formally anticipated to launch subsequent 12 months. With the formation of a JV with BYD (Construct Your Design) China for electrical buses, the corporate is increasing its product line within the e-mobility section for 3-wheeler electrical autos and electrical truck tippers.

Outlook

We provoke OGL with a goal of Rs.738, at 35x FY25E EPS. Advocate Accumulate ranking, contemplating capability growth & sturdy earnings development.

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Olectra Greentech – 25 -04 – 2023 – geo