Ola Electric Share Price Target 2026: Emkay has reviewed the performance of Ola Electric Mobility Limited. Brokerage has given a rating for the stock along with a revised target price. The electric two-wheeler maker on Wednesday reported consolidated revenue from operations of Rs 265 crore in the fourth quarter of FY26.
The company posted consolidated revenue from operations of Rs 2,253 crore for FY26, Ola Electric said in a statement. Consolidated gross margin stood at 38.5 per cent in Q4 FY26 and 30.6 per cent for FY26, it added.
The electric two-wheeler maker said it delivered 20,256 units in Q4 FY26 and 173,794 units for FY26.
- Weak Q4
- Topline declines further
- Gross margin sees another quarter of improvement
- Volume growth LED BY better placed production capacity
- Increase FY27E volume by ~10%
Emkay has maintained a Sell rating with a target price of Rs 25 vs Rs 20 (Upside ~32.4%).
Ola Electric Q4 Results FY2026
Q4 FY26 was a low-volume quarter, but it also showed the reset working. Consolidated gross margin reached 38.5 per cent, operating expenses reduced materially through the year, cash burn reduced significantly, service stabilised, and sales recovery began, while the cell business moved from validation to scale.
Ola Electric said it delivered its first operating cash flow positive quarter in Q4 FY26, with consolidated CFO (cash flow from operating activities) of Rs 91 crore, supported by PLI inflows, stronger gross margins, lower opex, and tighter working capital discipline.
The auto business delivered Rs 213 crore CFO and Rs 173 crore FCF (free cash flow) in Q4 FY26.
The cell business remained in planned investment mode as the company ramps up the Gigafactory and prepares the next phase of cell and storage products, it added.
“FY26 was a reset year for Ola Electric. We strengthened the fundamentals of the business across service, product quality, gross margins, operating costs, cash discipline, sales productivity, and cell manufacturing,” an Ola Electric spokesperson said.
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