Ola Electric reported a weak set of fourth-quarter results, with revenue witnessing a sharp year-on-year decline, even as losses narrowed compared to the same period last year.
The company posted revenue of ₹265 crore in Q4, down nearly 57% from ₹611 crore reported in the corresponding quarter a year ago. The steep fall in revenue reflects continued pressure on demand, rising competition in the electric two-wheeler segment, and operational challenges faced during the quarter.
Despite the sharp decline in topline performance, Ola Electric managed to reduce its losses on a yearly basis. The company reported a net loss of ₹500 crore in Q4 compared to a loss of ₹870 crore in the year-ago period, indicating some improvement in cost management and operational efficiency.
In his letter to shareholders, Ola Electric Chairman and Managing Director Bhavish Aggarwal described FY26 as a “year of reset” for the company. He said the focus during the year was on strengthening the fundamentals of the business, including service quality, product quality, gross margins, operating costs, cash discipline, sales productivity, and battery cell manufacturing.
Aggarwal highlighted that despite Q4 being a low-volume quarter, the company achieved key operational milestones. Gross margin improved to 38.5%, operating expenses reduced materially during the year, and cash burn declined significantly. He also stated that service operations have now stabilised, while sales recovery has started gaining momentum.
According to the company, April registrations rose 20% month-on-month even as the broader electric two-wheeler industry declined by more than 22%. Ola Electric also noted a major reduction in warranty costs, which stood at ₹59 crore in FY26 compared to ₹555 crore in FY25.
The company emphasised that Ola Electric is uniquely positioned across electric mobility and battery manufacturing, with its Gigafactory expected to play a major role in India’s future energy ecosystem. The company plans to ramp up commercial cell manufacturing towards 6 GWh in FY27 and deepen integration of battery cells into its EV portfolio.
Ola Electric also stated that FY26 marked its expansion beyond scooters, with the launch of the Roadster motorcycle platform aimed at tapping India’s large motorcycle market where EV penetration remains low.
Looking ahead, the company said its FY27 priorities include sustaining service consistency, scaling volumes with financial discipline, improving cash generation in the auto business, ramping up the Gigafactory, and expanding its energy storage business through initiatives like Shakti and Mahashakti.
Following the earnings announcement, Ola Electric shares were trading 0.22% lower at ₹36.50.
The stock touched an intraday high of ₹37.85 and a low of ₹36.02 during the session. Ola Electric’s 52-week high stands at ₹71.25, while the 52-week low is ₹22.25. The stock opened at ₹36.58 against the previous close of ₹36.58, with live trading volume crossing 9.30 crore shares.