Ola Electric Mobility Limited has informed the Exchange about General Updates
OLAELEC · price
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Ola Electric reported a sharp drop in Q3 FY26 volumes to 32,680 units (vs 84,029 a year ago), pushing revenue down to ₹470 crore. Despite weaker sales, the company posted a record consolidated gross margin of 34.3%, up 15.7 percentage points year-on-year, driven by vertical integration and Gen3 platform economics. Management guided for gross margins in the 35-40% range by FY27. Operating expenses were cut to ₹484 crore from a peak of ₹840 crore, with a target steady-state of ₹250-300 crore, lowering monthly EBITDA breakeven to 15,000 units. The Gigafactory ramped cell production to 72,418 units (doubled QoQ), with the first commercial deployment of in-house 4680 Bharat cells and the launch of Ola Shakti. Cash balance fell to ₹1,991 crore from ₹2,903 crore, with a quarterly loss of ₹487 crore and free cash outflow of ₹781 crore.
The letter paints a mixed picture — short-term pain with falling volumes and continued cash burn, but management is highlighting structural improvements in margins, cost base, and breakeven point that could support profitability recovery. Shareholders should weigh the heavy cash burn against the improving unit economics and upcoming Gigafactory benefits.