Ola Electric Mobility Limited filed with exchange transcript of the earning conference call

Ola Electric reported Q3 FY26 consolidated revenue of ₹470 crores with its highest-ever gross margin of 34.3% (up 16 percentage points YoY and 3.4 percentage points QoQ), alongside 32,680 vehicle deliveries and ~72,500 cells produced at the Gigafactory. Management called this quarter a 'structural reset,' cutting consolidated quarterly OPEX from a peak of ₹840 crores to ₹484 crores, with a steady-state target of ₹250-300 crores over the next couple of quarters, lowering the EBITDA breakeven to roughly 15,000 units per month. Gross margins are guided to stabilize in the 35-40% range through FY26-27, and the company says its heavy capex phase of ~₹5,300 crores is now behind it, with existing capacity supporting 1 million vehicles and 6 GWh of cells. Service issues were openly acknowledged but framed as an execution gap, not a product quality issue, with service backlogs cut nearly 50% and warranty provisions at a low 2-3%. The Gigafactory hit its first commercial deployment of 4680 Bharat cells and launched the Ola Shakti energy storage product.