Ola Electric Mobility Limited has informed the Exchange regarding Board meeting held on July 14, 2025.
OLAELEC · price
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Awaiting price reaction for this filing.
Ola Electric reported a weak Q1 FY26 (quarter ended June 30, 2025), with consolidated revenue from operations plunging about 50% year-on-year to ₹828 crores from ₹1,644 crores in Q1 FY25. The net loss widened to ₹428 crores from a loss of ₹347 crores a year ago, and EBITDA swung from a positive ₹31 crores to a negative ₹169 crores. The company recorded negative operating cash flow of ₹143 crores during the quarter, primarily due to continued operating losses and lower-than-expected sales volume. The statutory auditor (BSR & Co. LLP) issued an unmodified limited review report but drew specific attention to the going concern assumption in Note 5, noting management's reliance on cash balances, expected subsidiary cash flows, credit lines, and an approved plan to raise up to ₹1,700 crores through non-convertible debentures. Of the ₹5,275 crores IPO proceeds raised in August 2024, ₹2,681 crores has been utilised so far, with ₹2,594 crores remaining (mostly parked in fixed deposits).
The sharp revenue drop, widening losses, negative operating cash flow, and auditor's going-concern emphasis signal continued stress on the business and could weigh on the stock. Mitigants include a healthy unutilised IPO corpus and a Board-approved ₹1,700 crore debt raise plan to fund operations and growth.