Ola Q1 revenue falls by half: What the EV maker said about outlook and financial planning

The revenue from operations declined 49.63% to ₹828 crore in the latest April-June quarter as compared to ₹1,644 crore in the same period of the previous fiscal.

Here's what Ola Electric said about outlook and financial planning

With production-linked incentive, or PLI, benefits beginning from the second quarter of FY26 for the Gen 3 product portfolio, gross margin is expected to climb to 35% - 40%. The EV company projects full-year Auto EBITDA (earnings before interest, taxes, depreciation, and amortisation) of above 5%.

The firm also forecasts the auto business to remain EBITDA positive from Q2 onwards.

"Given these cash requirements for the business, we are well funded for this year and the next from our June end cash balance of ₹3,197 crore and we don't expect anything more needed for operating needs... We will be refinancing some of the debt (except the term loans) and are in discussions with various lenders through our investment bankers and expect this to close by next quarter," Ola Electric said.

The Bhavish Aggarwal-led firm said that it is presently the only major EV player providing ABS-equipped products (S1 Pro+). The company is developing its in-house ABS, which would be available by the transition timeline of January 2026.

Ola Electric share price

Shares of EV maker are trading 4.77% higher at ₹41.7 apiece on the National Stock Exchange (NSE) at 11:11 am.