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Ola Electric Mobility (OLAELEC) investor relations material
Ola Electric Mobility Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Transitioned to a balanced, profitable growth strategy with operational consolidation and margin improvement as the EV market matures.
Q1 FY26 revenue from operations reached ₹828 Cr with 68,192 vehicle deliveries, driven by strong Gen 3 product and Roadster bike uptake.
Auto segment turned EBITDA positive in June, with consolidated EBITDA margin improving to -28.6% from -113.9% in Q4 FY25.
Gen 3 products now comprise 80% of sales, driving higher gross margins, quality, and lower warranty claims.
Completed IPO in August 2024, raising INR 5,275 crores for capex, debt repayment, R&D, and growth initiatives.
Financial highlights
Consolidated revenue from operations for Q1 FY26 was INR 828 crores, up from INR 611 crores in the previous quarter but down from INR 1,644 crores year-over-year.
Gross margin reached 26% (25.8%) in Q1 FY26, the best to date, with gross profit per vehicle at ₹31,000.
Consolidated net loss for the quarter was INR 428 crores, improving from INR 870 crores in the previous quarter.
Free cash flow improved to -₹282 Cr from -₹625 Cr in Q4 FY25; operational cash flows for auto business nearly neutral.
Consolidated cash on balance sheet stands at ₹3,200 crores, with gross debt (excluding working capital) at ₹2,000 crores.
Outlook and guidance
FY26 vehicle sales targeted at 325,000–375,000 units, with 20% expected from bikes and revenue of ₹4,200–4,700 Cr.
Exit FY26 auto gross margin targeted at 35–40% with PLI benefits; auto EBITDA expected to exceed 5% for the year.
Auto business expected to be free cash flow positive by year-end; cell business to break even at 5 GWh capacity.
No further cash infusion anticipated; CapEx for cell business at ₹1,000–2,800 crores this year, mostly funded by term loans.
Board approved raising up to INR 1,700 crores via non-convertible debentures and other debt securities.
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