Ola Electric Reports Q4FY26 Results; Net Loss Narrows To Rs 500 Crore, Company Plans 20 GWh Battery Expansion

The Indian equity markets ended higher on Wednesday, with the benchmark Nifty 50 index closing 0.17 per cent higher at 23,659.00. Electric vehicle-related stocks remained in focus amid quarterly earnings announcements and operational updates. In this segment, shares of Ola Electric Mobility gained 1.04 per cent to Rs 36.96 after the company released its Q4FY26 shareholder update outlining margin improvement, operational recovery and battery expansion plans.

Ola Electric Mobility Q4FY26 Results

Ola Electric Mobility reported consolidated revenue from operations of Rs 265 crore in Q4FY26 as against Rs 611 crore reported in Q4FY25, registering a decline of around 56.6 per cent YoY. Gross margin stood at 38.5 per cent during Q4FY26 compared to 13.7 per cent reported in Q4FY25.

The company reported consolidated adjusted operating EBITDA loss of Rs 326 crore in Q4FY26 compared to a loss of Rs 760 crore reported in Q4FY25, reflecting an improvement of around 57.1 per cent YoY. Consolidated net loss stood at Rs 500 crore during Q4FY26 as against Rs 870 crore reported in Q4FY25, improving by around 42.5 per cent YoY.

Ola Electric Mobility FY26 Annual Performance

For the financial year ended March 31, 2026, Ola Electric Mobility reported consolidated revenue from operations of Rs 2,253 crore as against Rs 4,514 crore reported in FY25, registering a decline of around 50.1 per cent YoY. Gross margin for FY26 improved to 30.6 per cent compared to 17.9 per cent reported in FY25.

The company reported adjusted operating EBITDA loss of Rs 1,203 crore during FY26 compared to Rs 1,903 crore reported in FY25, reflecting an improvement of around 36.8 per cent YoY. Consolidated net loss stood at Rs 1,833 crore during FY26 as against Rs 2,253 crore reported in FY25, improving by around 18.6 per cent YoY.

Business Highlights

The company stated that service operations materially stabilised during FY26, with average service turnaround time reducing by 88 per cent from around 9 days in October 2025 to nearly 1 day in March 2026. Warranty costs declined sharply to Rs 59 crore during FY26 compared to Rs 555 crore reported in FY25.

Ola Electric highlighted that April 2026 registrations rose 20 per cent month-on-month to 12,166 units despite the broader electric two-wheeler industry declining by over 22 per cent during the same period. The company added that Roadster motorcycles contributed 15 per cent of April gross orders and Ola currently holds around 50 per cent market share in the electric motorcycle segment.

The company also stated that its AI-led operating platform is now handling around 2 lakh connected calls per day across sales, service and operations to improve customer engagement and productivity.

Expansion Updates

Ola Electric said installation work for its 6 GWh Gigafactory is largely complete and commercialisation is expected to be completed by the end of the current quarter. The company plans to expand battery manufacturing capacity from 6 GWh to 20 GWh by early next year through capital raising at the cell entity level.

The company added that around 15 per cent of current vehicle orders are from products powered by its own 4680 Bharat Cells and it aims to transition the full vehicle portfolio to in-house cells by September 2026. Ola Electric also highlighted growing traction in its Shakti energy storage business, which has received over 50,000 customer leads along with multiple B2B discussions.

Operational Highlights

During FY26, Ola Electric delivered 1,73,794 vehicles. The company reported consolidated cash flow from operations improving to negative Rs 775 crore during FY26 compared to negative Rs 2,391 crore reported in FY25.

The company stated that consolidated operating expenses reduced significantly from Rs 2,545 crore in FY25 to Rs 1,682 crore in FY26 due to lower overheads, network rationalisation and operating discipline.

Ola Electric expects Q1FY27 orders in the range of 40,000 to 45,000 units, nearly double Q4FY26 levels, supported by service recovery, supplier ramp-up and improving demand trends.

About Ola Electric Mobility

Ola Electric Mobility Ltd is engaged in manufacturing electric two-wheelers, battery technologies and energy storage solutions. The company operates the Ola Futurefactory and is expanding its presence across electric mobility, battery cell manufacturing and grid-scale energy storage businesses.

What are your views on Ola Electric Mobility’s FY26 operational recovery and its expansion plans in battery manufacturing and energy storage? Share your thoughts in the comments below.
Disclaimer: This article is for informational purposes only and not investment advice.