Olectra Greentech Limited has informed the Exchange about Bagging/Receiving of orders/contracts
OLECTRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Olectra Greentech's subsidiary Evey Trans (EVEY) has received two Letters of Award from Telangana State Road Transport Corporation (TGSRTC) for 1,085 electric buses (1,025 non-AC 12-metre and 60 AC 12-metre) for intra-city operations. Olectra will supply these buses to EVEY for approximately Rs. 1,800 Crores, with deliveries spread over 20 months. The buses will operate on a Gross Cost Contract (OPEX) model for 12 years, during which Olectra will also handle maintenance. The transaction between Olectra and EVEY qualifies as a related party transaction, conducted at arm's length.
This is a sizeable order worth ~Rs. 1,800 Crores that strengthens Olectra's order book and provides multi-year revenue visibility through both bus supply and 12-year maintenance contracts. Positive for the stock, though execution over 20 months and dependence on related-party subsidiary EVEY are key factors to watch.