Ola Electric Mobility limited has informed the exchange regarding the shareholders letter
OLAELEC · price
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Ola Electric posted its first operating cash-flow positive quarter with CFO of ₹91 crore in Q4 FY26, marking a major reset year. Consolidated gross margin reached 38.5%, up from 13.7% in Q4 FY25 and 34.3% in Q3 FY26, now described as industry-leading. Operating expenses dropped sharply to ₹428 crore from ₹844 crore YoY. Auto segment generated ₹213 crore CFO and ₹173 crore FCF in Q4. Warranty costs collapsed to ₹59 crore from ₹555 crore in FY25, reflecting service stabilization. April registrations rose 20% MoM to 12,166 units even as the broader E2W industry declined 22%. Q1 FY27 orders are guided at 40,000-45,000 units. The Gigafactory has 2.5 GWh operational with 6 GWh installation largely complete. Roadster commands 50% market share in electric motorcycles. Management flagged that gross margins may moderate in Q1-Q2 FY27 due to commodity inflation and pricing investments. Consolidated FY26 revenue was ₹2,253 crore vs ₹4,514 crore in FY25 (lower volumes).
The turnaround is real: service issues are largely resolved, gross margins are best-in-class, and the company is approaching EBITDA/FCF breakeven at lower volumes than before. However, near-term margin pressure from commodity inflation and competitive pricing is a headwind, and the Cell business remains in planned investment mode.