Ola Electric share price rises over 3% on filing PLI claim of ₹400 crore

Following the announcement, shares of Ola Electric rose 3.41% to ₹60.90 apiece on the National Stock Exchange (NSE). The counter opened at ₹59, up from the previous close of ₹58.90. Ola Electric shares rose 3.59% to touch an intraday high of ₹61.02 on the NSE.

The stock touched its 52 week high of ₹123.90 on September 18, 2024 and it touched its 52 week low of ₹39.60 on July 14, 2025. The company’s market capitalisation currently stands at ₹26,160.63 crore.

As per industry sources quoted by PTI, Ola has filed the claim with eligible sales of about ₹3,000 crore for FY25, translating into an expected incentive of nearly ₹400 crore.

The incentive, calculated at a rate of 13 to 14%, is expected to significantly strengthen the company's liquidity position and deliver a positive impact on its financial performance in the coming quarters, the sources close to the development told PTI.

Notably, Ola was the only two-wheeler Original Equipment Manufacturer (OEM) to receive the PLI incentive last year, marking a significant milestone for the company and the industry.

Ola Electric on August 26, said it has secured Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio, a move expected to boost profitability from the second quarter of fiscal 2026.

The certification, granted by the Automotive Research Association of India (ARAI) under the Ministry of Heavy Industries, covers all seven models in Ola’s Gen 3 scooter lineup, including its flagship S1 Pro and S1 X variants.

With both its Gen 2 and Gen 3 portfolios now PLI-compliant, the company is eligible for incentives ranging from 13% to 18% of determined sales value until 2028.

“Securing PLI certification for our Gen 3 scooters, which form the bulk of our sales, is a critical step towards profitability,” an Ola Electric spokesperson said. “This will directly strengthen our cost structure and margins, enabling us to deliver sustainable growth.”

Ola Electric recently also announced that it has received certification of compliance with PLI eligibility assessment requirements for its Gen 3 scooter portfolio.

The certification covers all its Gen 3 scooters in the S1 line-up.

The Gen 3 portfolio represents the majority of the company's current sales, and as a result, this certification is set to significantly enhance Ola Electric's profitability from Q2 FY26 onwards.

Ola Electric Q1 earnings

Ola Electric Mobility posted a consolidated net loss of ₹428 crore for the April-June quarter of the financial year 2025-26. The firm had reported a net loss of ₹347 crore in the same period last year. Ola’s revenue from operations stood at ₹828 crore in Q1 FY26, declining 50% from ₹1,644 crore in Q1 FY25. The company’s EBITDA loss for the reporting quarter stood at ₹237 crore in contrast to ₹205 crore year-on-year (YoY). Ola said that its auto segment cash generation was within reach: “Q1FY26 nearly neutral, structural improvements in opex and working capital.”

The company expects that by the end of FY26, it will have fully utilised the 1.4 GWh and installed the remaining capacity to get to 5 GWh and scale consumption to 5 GWh through FY27.

The EV maker has also successfully developed Heavy Rare Earths (HRE)-free motors, which are scheduled for production deployment in Q3 FY26.