Ola Electric Mobility (OLAELEC) investor relations material

Executive summary

• FY 2026 saw lower volumes but materially stronger fundamentals, with industry-leading gross margins, reduced cost base, and improved execution metrics.

• Q4 marked the first operating cash flow positive quarter, signaling a shift from heavy build-out to disciplined scale-up.

• Audited standalone and consolidated financial results for the year and quarter ended March 31, 2026, were approved and published, with unmodified audit opinions from statutory auditors.

• The group continues to report operating losses and negative cash flow from operations, but management asserts a going concern basis due to available liquidity, business projections, and ongoing funding discussions.

• The company is positioned across electric mobility, cell manufacturing, and energy storage, leveraging vertical integration.

Financial highlights

• Consolidated revenue from operations for FY26 was INR 4,514 crore, down from INR 4,932 crore in FY25.

• FY 2026 consolidated revenue was INR 2,253 crore with 173,794 deliveries.

• Consolidated net loss for FY26 was INR 2,276 crore, compared to INR 2,253 crore in FY25.

• Consolidated gross margin improved to 30.6% for the year; Q4 gross margin reached 38.5%, up from 13.7% year-over-year.

• Q4 consolidated operating cash flow was INR 91 crore; auto business delivered INR 213 crore CFO and INR 173 crore free cash flow.

Outlook and guidance

• Management expects to continue as a going concern, supported by available cash, business expansion, margin improvements, new product launches, and ongoing funding efforts.

• Q1 2027 expected orders: 40,000-45,000; revenue: INR 500-550 crore, nearly double Q4.

• Auto business expected to achieve adjusted operating EBITDA and cash flow positivity in FY 2027 as volumes recover.

• CapEx cycle is largely complete; only maintenance CapEx of about INR 50 crore/year expected.

• Plans for a qualified institutional placement (QIP) are underway to further strengthen liquidity and support capital expenditure and working capital.