Ola Electric Q4 loss narrows 42.5% to Rs 500 crore, CEO Aggarwal bets on volume recovery

Electric two-wheeler maker Ola Electric on Wednesday reported a consolidated net loss of Rs 500 crore for the fourth quarter ended March 2026, narrowing 42.5% from Rs 870 crore in the year-ago period, aided by lower expenses. In Q3, the company had reported a loss of Rs 487 crore.

The Bhavish Aggarwal-led company’s revenue from operations during the quarter declined 56.6% year-on-year (YoY) to Rs 265 crore from Rs 611 crore a year earlier, according to the company’s filing.


“We are working towards rebuilding national market share to 15–20% over the next six months,” Aggarwal wrote on X after the company announced its results.

For the full 2026 financial year, the company posted a consolidated net loss of Rs 1,833 crore compared with Rs 2,276 crore in FY25. Revenue from operations fell sharply to Rs 2,253 crore from Rs 4,514 crore a year ago.

The company said it continues to face pressure from lower-than-expected sales growth and operating losses. Ola Electric also said it is in the process of raising fresh equity capital through a qualified institutional placement (QIP) to strengthen liquidity and support capital expenditure and working capital needs.

Last week, the company approved a Rs 2,000 crore investment into its wholly-owned subsidiaries focussed on electric vehicle and battery manufacturing. The investment comes at a time when the company is under pressure to improve profitability after a slowdown in sales growth and erosion in its share of India’s electric two-wheeler market.

Rating agency ICRA, in April, downgraded its subsidiary Ola Electric Technologies citing weak sales.

Speaking about the company’s overall quarterly performance, Aggarwal wrote on X: “FY26 volumes were lower than where we want them to be, but FY26 was also the year in which the fundamentals of the company became much stronger.”

He added that “The heavy build phase is behind us. The next phase is disciplined scale. FY27 is about recovering volumes, sustaining service consistency, holding margin leadership, reducing opex, ramping the Gigafactory, and scaling Shakti and Mahashakti (battery product lines).

“For Q1 FY27, we expect 40,000-45,000 orders and consolidated revenue of Rs 500-550 crore, nearly double Q4 levels. As volumes recover, we expect the auto business to move towards adjusted operating EBITDA and free cash flow positivity through FY27,” Aggarwal posted on X.

The company’s focus remains on its EV products, particularly electric motorcycles and cell manufacturing.