Olectra Greentech: The Electrifying Multibagger Stock Delivering 2374% Returns and a Fresh Dividend!

In a truly electrifying display of market performance, Olectra Greentech, a pioneering force in India's electric vehicle (EV) sector, has emerged as a sensational multibagger stock, rewarding its long-term investors with an astonishing 2374% return over the past five years. As if its spectacular growth wasn't enough, the company has announced its ex-dividend date for September 19, making it a compelling point of discussion for investors nationwide.

Shareholders looking to partake in the dividend payout of Rs 0.40 per equity share (face value Rs 4) should take note of the crucial date.

The record date for determining eligible shareholders for this dividend has also been set for September 19, 2024. This latest move adds another layer of appeal to a stock that has already become a darling of the market, reflecting confidence in its sustained growth trajectory and financial health.

Olectra Greentech's journey from just Rs 55 in September 2018 to its recent closing price of Rs 1361.30 is a testament to the surging demand for electric mobility solutions and the company's strategic positioning within this burgeoning industry.

The stock has not only outperformed broader market indices but has also etched its name as one of the most rewarding investments in the auto sector, turning an initial investment of Rs 1 lakh into a staggering Rs 24.74 lakh in just half a decade.

With a robust market capitalization exceeding Rs 11,180.20 crore, Olectra Greentech continues to attract significant investor interest.

Its 52-week high stands at Rs 1400.00, while its 52-week low was Rs 374.05, showcasing substantial volatility but also immense growth potential. Analysts remain optimistic, with firms like Prabhudas Lilladher recommending a 'buy' rating, citing a target price of Rs 1740, based on an impressive 60x FY26E EPS, driven by a strong order book and the government's steadfast commitment to electric vehicle adoption.

The company's financial performance further solidifies its position.

For the first quarter of FY24, Olectra Greentech reported a 35% year-on-year increase in revenue, reaching Rs 304.60 crore. Net profit also saw a healthy 16% rise, touching Rs 18.80 crore. These figures underscore the company's operational efficiency and ability to capitalize on market opportunities, especially in the electric bus segment where it holds a dominant position.

A significant driver of future growth is Olectra Greentech's massive order book, currently boasting 8,088 electric buses.

This includes a landmark contract for 5,150 electric buses from the Maharashtra State Road Transport Corporation (MSRTC). Furthermore, its strategic joint venture with China's BYD for electric buses and the recent launch of India's fastest-charging e-bus, the 'eBuzz K9', highlight its innovative spirit and commitment to technological advancement.

As India accelerates its transition towards sustainable transportation, Olectra Greentech stands at the forefront of this revolution.

Its proven track record of delivering exceptional returns, coupled with a robust business model, strategic partnerships, and a clear vision for the future, positions it as a key player in the country's electric mobility landscape, making it a stock to watch for those invested in the future of green transport.