Overview
- Ola Electric posted Q2 FY26 revenue of Rs 690 crore, down 43% year-on-year, with a consolidated net loss narrowing to Rs 418 crore from Rs 495 crore.
- The auto business recorded its first positive EBITDA at 0.3% as gross margin reached 30.7%, and the consolidated operating EBITDA loss improved to Rs 203 crore from Rs 379 crore a year earlier.
- Total deliveries for the quarter were 52,666 vehicles, while cash flow from operations registered negative Rs 40 crore due to a one-time festive inventory build.
- The company commissioned 2.5 GWh of cell capacity at its Gigafactory, targeted 5.9 GWh by March 2026, and launched a residential BESS built on in‑house 4680 Bharat Cells with projected revenue of about Rs 100 crore in Q4 FY26 and Rs 1,000–1,200 crore annually in FY27.
- Updated guidance calls for FY26 consolidated revenue of roughly Rs 3,000–3,200 crore and about 100,000 auto deliveries in H2, and shares traded lower following the results.