Olectra Greentech Ltd

- Olectra Greentech is committed to establishing a Greenfield manufacturing facility, with documentation completed and tenders floated for plant construction. The shift to this new facility is expected in Q4 FY23. - Capacity expansion plans aim to reach production of up to 5,000 buses per year but depend on successful fund-raising, which is currently being explored and awaited due to market conditions. - The company is seeking to raise around Rs. 400 to 800 crores through fund-raising, with promoters potentially contributing to drive valuation growth before inviting external investors. - There are no current plans for battery cell manufacturing; however, the new facility will have battery cell assembly capacity. - Strategic investment focus remains on electric buses and electric tippers product lines, with plans to introduce new models rather than entering electric cars manufacturing yet.

- Targeting growth of approximately 2.5x to 3x current numbers for FY24-25, aiming for 1,200 to 2,500 electric buses and tippers annually. - Plan to deliver about 1,200 to 1,500 buses and tippers in the current financial year. - Capacity currently at 125 buses per month on a single shift, with ability to increase capacity to meet demand. - Expansion includes establishing a new Greenfield facility, expected operational by Q4 of current financial year, to scale up production possibly to 5,000 buses per year in the future. - Fundraising plans are underway to support expansion, but delayed due to market conditions; promoters also likely to contribute funds. - Order book as of March 31, 2023, stands at 3,394 buses, with a delivery timeline of 12-18 months. - Significant ramp-up expected in electric tipper segment, with initial orders and positive market response.

- The company targets delivering 1,200 to 1,500 electric buses and tippers in the current financial year, up from previous quarters. - Projected growth of 2.5x to 3x in production for FY24 and FY25, indicating strong volume expansion. - EBITDA margins are expected around 10%-13%, with tippers yielding slightly better margins than buses. - PAT showed strong growth, doubling last year (98% increase), reflecting improved profitability. - The Company aims for capacity expansion to support up to 5,000 buses annually in the near future (new Greenfield facility expected in Q4 FY23). - Fundraising plans are underway to support growth, with promoters also expected to invest. - Market conditions are stabilizing, improving fundraising prospects, which will drive growth and profitability. - Overall, the Company is confident of delivering strong earnings and operating profit growth in FY24 and beyond.

- As of March 31, 2023, Olectra Greentech has an order book of 3,394 electric buses, after delivering 563 buses. - The company also has a specific order of 20 electric tippers from MEIL, with 17 already delivered; more inquiries are expected to translate into orders within 2 months. - The Mumbai order of approximately 2,100 buses is sub-judice, with only 20 buses delivered, but is currently included in the overall order book. - Approximately 10,000 buses are in various tendering stages, including a major bid for 5,150 buses from MSRTC. - The delivery timeline for the 3,394 bus order book is estimated at 12-18 months. - The company targets a production and delivery range of 1,200 to 1,500 buses/tippers in the current financial year.

- Olectra Greentech has no change in its fundraising plans; an enabling resolution for fundraising is in place. - The company is currently exploring various options for fundraising but has not proceeded due to unfavorable market conditions over the past three months. - They expect the market to stabilize and improve, which will allow them to go ahead with the fundraising plans. - Fundraising is planned through equity and/or debt, and promoters are also likely to contribute. - The intention is to raise funds to expand capacity, such as the new greenfield facility expected to be operational by Q4 of the current financial year. - Promoter involvement in investing significant amounts (e.g., Rs. 400-800 crores) has been suggested to enhance valuation before inviting external investors. - No immediate plans for debt or equity issuance have been finalized; updates will be provided as and when progress occurs.