Ola Electric Mobility Ltd: Q4FY26 results
Ola Electric Mobility Ltd reported revenue of Rs 265 cr and net profit of Rs -500 cr for Q4FY26.
Filed 20 May 2026, 15:23 IST · Ola Electric Mobility Ltd (OLAELEC)
Price around the results
What was reported
Ola Electric Mobility Ltd reported revenue of Rs 265 cr and net profit of Rs -500 cr for Q4FY26. Figures are consolidated.
How it compares
Revenue changed -56.63% from a year earlier. Against the previous quarter revenue changed -43.62%.
How the stock reacted
The stock closed +1.04% on the session after the results.
Q4FY26 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q4FY26 | Q3FY26 | QoQ | YoY |
|---|---|---|---|---|
| Revenue | ₹265 cr | ₹470 cr | -43.62% | -56.63% |
| Other income | ₹39 cr | ₹34 cr | +14.71% | -66.67% |
| Expenses | ₹546 cr | ₹741 cr | -26.32% | -58.19% |
| Operating profit | ₹-281 cr | ₹-271 cr | -3.69% | +59.57% |
| Operating margin (%) | -106.04% | -57.66% | — | — |
| Interest | ₹77 cr | ₹80 cr | -3.75% | -36.89% |
| Depreciation | ₹177 cr | ₹170 cr | +4.12% | +4.12% |
| Profit before tax | ₹-496 cr | ₹-487 cr | -1.85% | +42.99% |
| Tax | ₹4 cr | ₹0 cr | — | — |
| Net profit | ₹-500 cr | ₹-487 cr | -2.67% | +42.53% |
| EPS (₹) | ₹-1.13 | ₹-1.10 | -2.73% | +42.64% |
Operating margin of -106.04% compares with a Consumer Discretionary sector median of 14.81% across 93 peers that have reported Q4FY26.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | +1.04% | +0.87% |
| Next session | -2.93% | — |
| 5 sessions | +7.27% | +6.05% |
| 15 sessions | +24.49% | — |
| 30 sessions | +21.60% | — |
Volume on the results session was 1.26× its 20-day average.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Average service turnaround time fell 88%, from around nine days in October 2025 to nearly one day in March 2026.
- April registrations rose 20% month-on-month to 12,166 units despite a more than 22% decline in the E2W industry.
Guidance & outlook
- Ola plans to ramp commercial Gigafactory manufacturing towards 6 GWh in FY27.
- Ola expects operating expenses to reduce towards ₹350 crore per quarter over the next couple of quarters.
- Ola is working towards rebuilding national market share to 15–20% over the next six months.
- Ola expects Q1 FY27 orders of 40,000–45,000 units, nearly double Q4 levels.
- Ola expects the auto business to move towards adjusted operating EBITDA and free cash flow positivity through FY27.
Expansion
- Existing auto capex supports annual capacity of up to 1 million vehicles.
- Ola plans to expand Gigafactory capacity from 6 GWh to 20 GWh by early next year through a cell-entity capital raise.
- Tail-end capex for the 6 GWh ramp is planned during Q1 and Q2.
- Ola does not expect meaningful incremental auto capex in FY27.
New orders
- Ola is running an order backlog across key products as demand recovers.
New products
- Roadster products offer up to 9.1 kWh and more than 500 km of certified range.
New initiatives
- Ola plans to transition its full vehicle portfolio to its own cells by September 2026.
- Shakti is built and entering the market, supported by 50,000-plus customer leads and 200-plus distributor partners.
- Mahashakti is being developed for C&I and utility-scale storage and is planned for launch by CY 2027.
Competition
- Ola has 50% market share in the electric motorcycle segment.
Problems & risks
- Gross margins may moderate in Q1 and Q2 FY27 because of commodity inflation and pricing actions.
- Shakti is currently supply-constrained because auto transition is being prioritised while the Gigafactory ramps.
- Service was the largest constraint on demand and brand trust through FY26 before materially stabilising.