Olectra Q2 results 2026: profit Rs 52.12 crore

Olectra Greentech reported consolidated revenue of Rs 687.01 crore and profit after tax of Rs 52.12 crore for the quarter ended 30 September 2026.

Published 11 November 2026 · Potoos Research Services

Olectra Q2 results: the main figures

Q2 FY27 means July to September 2026. The comparison below is with July to September 2025. Consolidated results combine Olectra with the entities included in its group accounts. Revenue from operations is income from the business. Profit after tax is what remains after the reported expenses and tax.

Consolidated figures in Rs crore, except earnings per share. Figures are rounded to two decimal places.

Source: consolidated financial statement, PDF page 10. Percentage changes use the filing's unrounded figures in lakh. One crore equals 100 lakh.

Why are there two profit numbers?

Rs 52.12 crore is profit for the whole consolidated group. Rs 52.94 crore is the part attributed to Olectra's shareholders. The latter is higher because Rs 0.82 crore of loss belongs to other shareholders in the group. The filing calls their share a non-controlling interest.

Profit attributed to Olectra's shareholders increased 6.84%. Basic earnings per share, or EPS, is the reported profit per equity share. The quarterly EPS of Rs 6.45 is not a full-year figure.

The large changes behind the headline

Other income, reported separately from main-business revenue, rose from Rs 4.32 crore to Rs 15.02 crore, an increase of 247.50%. Other expenses rose from Rs 6.01 crore to Rs 20.73 crore, an increase of 244.67%. These moved much faster than revenue. The results notes do not explain the reasons for either quarterly change. The six-month cash-flow statement shows finance income, including interest, of Rs 4.13 crore against Rs 7.22 crore a year earlier. These figures cover April to September. They do not show what caused the July-to-September rise in other income, and the filing gives no quarterly breakdown that explains it.

Finance costs, which are the costs of funding, rose from Rs 13.83 crore to Rs 22.05 crore. Depreciation and amortisation, which spread asset costs over time, rose from Rs 10.72 crore to Rs 15.11 crore. The filing does not give a specific explanation for those quarterly increases either.

The group recorded Rs 3.09 crore as its share of profit from associates, compared with a loss of Rs 0.49 crore a year earlier. Associates are companies included through the group's share of their results. The filing does not explain this profit swing by company. In the same board outcome (PDF page 1, item 2), the board approved the sale of Olectra's entire 34% holding in one associate, Evey Trans (UJJ) Private Limited, to Evey Trans Private Limited for Rs 34,000. There was no exceptional item, the separate line used for unusual items, in either quarter.

Tax expense was Rs 20.62 crore against Rs 19.02 crore. The current quarter includes Rs 1.42 crore of tax for earlier years. Deferred tax, an accounting adjustment for tax arising in different periods, changed from a Rs 0.57 crore credit to a Rs 3.88 crore charge. The filing gives no further reason for these tax adjustments.

These details come from PDF page 10. The notes on page 11 and the six-month cash-flow statement on page 14 do not provide a quarterly breakdown that explains the large income and expense movements.

What the six-month cash-flow statement shows

Cash flow tracks money moving in and out. It covers April to September 2026 here, not just Q2. Net cash from operating activities was Rs 190.31 crore, compared with cash used of Rs 30.97 crore a year earlier.

The cash-flow reconciliation includes Rs 203.66 crore from an increase in other current liabilities, other short-term amounts owed, and Rs 112.73 crore from trade payables, amounts owed to suppliers. These helped offset Rs 263.29 crore tied up in trade receivables, amounts customers owed. The filing does not explain what makes up the increase in other current liabilities.

Standalone accounts cover Olectra itself. Standalone Q2 profit was Rs 50.92 crore, below group profit. The consolidation note also says revenue and profit from buses transferred within the group are removed from group results. The subsidiary records the buses as assets used in its operations. This helps explain why standalone and consolidated figures cannot simply be added together.

How to read this filing

The results are unaudited and accompanied by a limited review report. A limited review is a narrower check than a full audit. The report says the reviewer relied on management-provided figures for the subsidiary, joint venture and associates, and did not modify its conclusion for that matter. Read PDF pages 15 and 16 with the financial tables.

Sources

• Olectra Greentech: Q2 and half-year results filed with NSE. 9 November 2026 PDF pages 1, 4, 8, 10, 11, 14, 15 and 16

Sources checked on 10 November 2026. Information cutoff: 10 November 2026, 19:00 IST

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