Olectra Shares Drop After Rs 100 Billion E-Bus Deal Cancelled

28 May 2025 CW Team

Olectra Greentech shares fell by as much as fourteen per cent to Rs 1,160 on 27th May after the Maharashtra government cancelled a Rs 100 billion electric bus contract. The Transport Minister, Pratap Sarnaik, stated the company had not delivered a single bus from the one thousand due by 22nd May.

The contract, awarded in July 2023 to a consortium of Olectra and Evey Trans Pvt Ltd, spanned twelve years and covered 5,150 electric buses. Evey was to procure the buses and deliver them to the Maharashtra State Road Transport Corporation, while Olectra would maintain the fleet.

Sarnaik made the announcement on social media following a review at MSRTC headquarters. He said the supplier had shown no progress despite a revised timeline. Though the company was not named directly, officials were directed to cancel the tender.

Olectra has not issued an official response. The news comes despite strong March quarter results, where revenue rose fifty-eight per cent, net profit doubled, and EBITDA increased by seventy per cent. Shares traded at Rs 1,266 by 9:30 AM, down six per cent.

Source: Moneycontrol

Infrastructure Transport

11 May 2026

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..