Results · Mobility & Logistics

Ola Electric narrows Q4 loss, revenue falls sharply

By Startup Enthusiast · 20 May 2026

Date: 20 May 2026
Company: Ola Electric
What it does: Electric scooter and motorcycle maker
Kind: Results
Stage: public
Sector: Mobility & Logistics

What they do

Ola Electric makes electric scooters and motorcycles, plus home energy products

What happened

Q4 FY26 net loss fell 43% year-on-year to ₹500 Cr, but revenue dropped 57% to ₹265 Cr

Why it matters

The company expects Q1 FY27 orders to nearly double, targeting market share recovery; auditors flagged cash flow concerns, though the company raised funds…

The details

Ola Electric reported a Q4 FY26 net loss of ₹500 Cr, down 43% from ₹870 Cr a year earlier.
Quarterly operating revenue fell 57% year-on-year to ₹265 Cr, from ₹611 Cr.
Total income for the quarter was ₹304 Cr, including ₹39 Cr of other income.
The company posted its first operating cash flow positive quarter, with consolidated CFO of ₹91 Cr.
Full-year FY26 net loss narrowed to ₹1,833 Cr, down 20% from ₹2,276 Cr in FY25.
Full-year operating revenue halved to ₹2,460 Cr from ₹4,932 Cr.
Auditors flagged a material concern about cash flows and funding position, citing management's plans to address it.
The board approved a ₹1,500 Cr QIP (qualified institutional placement, a share sale to big investors) in October 2025; the company said it had substantially completed investor engagement.

The bigger picture

The results come amid a sharp drop in sales and a stock price decline of over 6% in 2026.
Analysts at Emkay, Citigroup, and HSBC retained 'Sell' or 'Reduce' ratings, with target prices below the current share price.
The company called FY26 a 'reset year', focusing on fixing service and quality issues.
Regulators, including SEBI and the CCPA, have queried sales data and customer complaints.

About the business

Ola Electric makes electric scooters (S1 series) and electric motorcycles (Roadster series).
It also sells home energy products like Shakti and Mahashakti batteries and solar charge controllers.
The company operates 590 service centres and plans to train 1 lakh third-party mechanics for EV repair.
It offers a same-day service guarantee and an upgrade program for existing owners.
The company is building a gigafactory for battery cells, currently at 2.5 GWh capacity, with plans to expand to 20 GWh.
It earns revenue from vehicle sales and, increasingly, from battery cells and services.

What happens next

Expects Q1 FY27 orders to nearly double sequentially to ~45,000 units.
Targets national market share recovery to 15%-20% over the next six months.
Plans to expand gigafactory capacity to 20 GWh next year via a capital raise at the cell entity level.
Expects auto business to move towards adjusted operating EBITDA and FCF positivity through FY27.
Priorities include recovering volumes, sustaining service consistency, and ramping the gigafactory.

The deal

Type: QIP (qualified institutional placement)

Founders

Bhavish Aggarwal, Founder & CEO

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