Despite the recent rebound, the shares remain down 21% over the past year, though they have gained 12% so far in 2026.
The rally comes after Ola Electric reported mixed March quarter results last week. While Q4 revenue more than halved to ₹265 crore from ₹611 crore a year ago, the company narrowed its net loss to ₹500 crore from ₹870 crore in the corresponding quarter last year. EBITDA loss also narrowed to ₹281 crore from ₹690 crore a year ago.
Gross margin expanded to 38.5% in Q4FY26 from 13.7% a year earlier. The quarter also marked Ola Electric’s first operating cash-flow positive quarter, with consolidated cash flow from operations turning positive at ₹91 crore.
Management commentary also boosted sentiment. The company said service-related issues, which had constrained demand through much of FY26, have now largely stabilised. Average service turnaround time was reduced by 88% between October 2025 and March 2026, while the service backlog declined significantly.
The company also provided an optimistic outlook for the June quarter, guiding for sales volumes of 40,000 units – 45,000 units. It has already registered 12,206 units in April and 12,790 units through May 28, taking total registrations for the quarter so far to nearly 25,000 units.
In its shareholder letter, Ola Electric said its battery Gigafactory is entering the next phase of scale-up, with a focus on ramping commercial manufacturing towards 6 GWh capacity during FY27.
The company also highlighted the growing role of artificial intelligence across its operations, with AI systems now handling around two lakh connected calls daily across sales, service and operational functions.
While management cautioned that gross margins could moderate in the first half of FY27 due to commodity inflation and aggressive pricing strategies, it said the company has sufficient margin headroom to support growth initiatives while maintaining profitability discipline.
Shares of Ola Electric Mobility are trading 7% higher on Friday at ₹41.95. The stock still trades well below the IPO price of ₹76 and its post-listing high of ₹157.
