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Big Impact After Budget; Govt Will Support EV; 268% Return Share Will Double?

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Olectra Greentech (NSE: OLECTRA) Share: Finance Minister Nirmala Sitharaman presented the Budget 2024 on Thursday, February 1.

During this period, many important announcements have been made, which have also impacted the shares of companies. 

One such share is that of Olectra Greentech. A record rise was seen in the share of Olectra Greentech today. The company’s shares reached a 52-week high of Rs 1,849.

The Finance Minister said in her budget speech while presenting the interim budget (Budget 2024) in the Parliament on Thursday. 

Finance Minister Nirmala Sitharaman said that the government will expand the electric vehicle (EV) system to promote charging infrastructure and E-buses will be encouraged for the public transport network.

What Are The Details

Sitharaman said in her pre-poll budget that it will be mandatory to mix compressed biogas with CNG and piped natural gas for transportation. 

Sitharaman stated that India’s economic power has made it an attractive destination for conference and business tourism. Sitharaman said there were tremendous opportunities for tourism.

She promised that the government would develop iconic tourist centers to attract foreign tourists.

Condition Of Shares

After this announcement, Olectra Greentech share jumped 3.22% and are currently trading at Rs 1,783.20; increased 57.85% in six months.

The share has climbed 29.83% so far this year and are up 279.20% in a year. Within a year it has increased from Rs 470 to the current price.

Its 52 week high price is Rs 1,849.25 and 52 week low price is Rs 374.35. Its market cap is Rs 14,191.76 crore.

Company’s Plan

The new facilities of Hyderabad-based electric bus manufacturer Olectra Greentech is expected to be operational from July 2024.

The initial capacity will be 5,000 buses. This will increase gradually to 10,000 buses. The company intends to deliver at least 2,500 buses in FY25. 

According to an interview, Olectra has received more than 9,000 orders of buses and delivered 232 of them in the first six months of the current financial year. The company is expected to deliver 500 more buses in the second quarter.

About Olectra Greentech Ltd

Olectra Greentech Limited (Olectra) is the largest Indian Pure Electric Bus manufacturer in Hyderabad, India that is primarily involved in the production of composite polymer insulators & electrical buses.

It was the first electric bus maker and has deployed all variations that comprise Electric Buses, Polymer Insulators, and Electric Trucks. 

They are expanding the product line to include the electric mobility segment, which includes electric tippers and electric vehicles. 

It’s an environmentally friendly option for public transport. It offers its services to the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). 

It is part of the Megha Engineering & Infrastructure Limited (MEIL) group. It makes the majority money via its Electric Bus segment.

The Company is operated through three divisions that include the Insulator division, an E-bus division, and an E-truck division. The main products it offers are Power Insulators and Electric Buses.

It operates the K9 bus (which is a 12-meter-long bus ) & K7 (which is a 9-meter bus) and K6 (which is seven meters long). The buses all have flexible seating capacity and are specifically designed to operate in long-range.

Fundamental Analysis of Olectra Greentech

Market Cap₹ 14,653 Cr.
Current Price₹ 1,783.20
52-wk High₹ 1,849
52-wk Low₹ 374
Stock P/E163
Book Value₹ 106
Dividend0.02 %
ROCE13.3 %
ROE8.11 %
Face Value₹ 4.00
P/B Value16.2
OPM14.5%
EPS₹ 11.0
Debt₹ 131 Cr.
Debt to Equity0.15

Olectra Greentech Share Price Target 2024 To 2030

Year1st Target2nd Target
2024₹1900₹2400
2025₹2600₹2870
2026₹3000₹3300
2027₹3670₹3900
2028₹4100₹4511
2029₹4680₹4900
2030₹5400₹5900
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Olectra Greentech Shareholding Pattern

Promoters Holding
Dec 202250.02%
Mar 202350.02%
June 202350.02%
Sept 202350.02%
Dec 202350.02%
FII Holding
Dec 20229.44%
Mar 20239.03%
June 20238.55%
Sept 20238.01%
Dec 20237.78%
DII Holding
Dec 20220.09%
Mar 20230.11%
June 20230.11%
Sept 20230.14%
Dec 20230.15%
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Public Holding
Dec 202240.45%
Mar 202340.85%
June 202341.33%
Sept 202341.84%
Dec 202342.04%

Olectra Greentech Share: Last 5 Years’ Financial Condition

To gain a better understanding of how the market is performing, let’s look at the outlook of this share in the previous years. 

However, investors should be aware of the risks and the market conditions before making any investment decision.

Last 5 Years’ Sales:

2019₹ 170 Cr
2020₹ 201 Cr
2021₹ 281 Cr
2022₹ 593 Cr
2023₹ 1,241 Cr

Last 5 Years’ Net Profit:

2019₹ -16 Cr
2020₹ 14 Cr
2021₹ 8 Cr
2022₹ 35 Cr
2023₹ 91 Cr
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Last 5 Years’ Debt-To-Equity Ratio:

20190.03
20200.03
20210.01
20220.09
20230.16

Last 10 Years’ Profit Growth:

10 Years:41%
5 Years:49%
3 Years:200%
Current Year:60%

Last 10 years’ Return on Equity (ROE):

10 Years:3%
5 Years:3%
3 Years:5%
Last Year:8%

Sales Growth Over 10 Years:

10 Years:32%
5 Years:47%
3 Years:76%
Current Year:26%

Conclusion

This article is a complete guide about Olectra Greentech Ltd Share.

These information and forecasts are based on our analysis, research, company fundamentals and history, experiences, and various technical analyses. 

Also, We have talked in detail about the share’s future prospects and growth potential.

Hopefully, these informations will help you in your further investment. 

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Also Read: 1442% Drone Making Defense Share; After Government Decision Share Will Double

Disclaimer: Dear readers, we’d like to inform you that we are not authorized by SEBI (Securities and Exchange Board of India). The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations. Also, the share price predictions are completely for reference purposes. The price predictions will only be valid when there are positive signs on the market. Any uncertainty about the company’s future or the current state of the market will not be considered in this study. We are not responsible for any financial loss you might incur through the information on this site. We are here to provide timely updates about the stock market and financial products to help you make better investment choices. Do your own research before any investment.

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