OLECTRA · Automobile and Auto Components
Olectra Greentech Ltd. reported revenue of ₹289 cr for January to March 2024, — on the year and −15.5% on the quarter.
Operating profit (EBITDA) was ₹34.0 cr, a margin of 11.8%, — on the year and −256 bps on the quarter.
Net profit was ₹15.0 cr, — on the year and −44.4% on the quarter, with earnings per share of ₹1.67.
A vehicle maker's revenue is volumes times average price, and its margin moves with steel, aluminium and rubber costs and with the share of exports and premium models. The quarterly statements do not carry volumes, realisation per vehicle and the export share; those come with the filing read.
On earnings per share of ₹9.36 over the last four quarters, the stock at ₹1,067.30 trades at 114.0 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹307 cr | ₹342 cr | ₹289 cr | ₹314 cr | ₹524 cr | ₹515 cr | ₹449 cr | ₹347 cr | ₹657 cr | ₹664 cr | ₹645 cr | ₹576 cr |
| YoY | — | — | — | +45% | +71% | +51% | +55% | +11% | +25% | +29% | +44% | +66% |
| EBITDA margin | 13.4% | 14.3% | 11.8% | 14.0% | 15.5% | 15.3% | 12.0% | 13.8% | 13.5% | 14.0% | 15.5% | 11.8% |
| Other income, % of PBT | 19% | 21% | 40% | 22% | 6% | 5% | 17% | 24% | 6% | 6% | 9% | 14% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 30% | 20% | 26% | 24% | 26% | 25% | 29% | 23% | 28% | 27% | 28% | 23% |
| Net profit | ₹19.0 cr | ₹27.0 cr | ₹15.0 cr | ₹24.0 cr | ₹48.0 cr | ₹47.0 cr | ₹21.0 cr | ₹26.0 cr | ₹49.0 cr | ₹47.0 cr | ₹57.0 cr | ₹27.0 cr |
| YoY | — | — | — | +33% | +153% | +74% | +40% | +8% | +2% | 0% | +171% | +4% |
| Core profit YoY | — | — | — | +4% | +177% | +119% | +100% | +4% | +5% | +2% | +204% | +15% |
| EPS | ₹2.20 | ₹3.29 | ₹1.67 | ₹2.92 | ₹5.79 | ₹5.64 | ₹2.56 | ₹3.17 | ₹6.04 | ₹5.65 | ₹6.76 | ₹3.16 |
| Flags | · | · | 1 | 3 | ✓ | ✓ | 1 | ✓ | ✓ | 1 | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Olectra Greentech Ltd. reported revenue of ₹289 cr (— on the year) and net profit of ₹15.0 cr (— on the year) for January to March 2024.
1 check raised a question: Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
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