OLAELECAutomobile and Auto Components

Ola Electric Mobility Limited

2/3 Wheelers · ISIN INE0LXG01040 · BSE 544225 · NSE EQ · FV ₹10
Last price
₹37
-1.21%today
What this company does

Ola Electric Mobility Limited operates in 2/3 Wheelers, part of the Automobile and Auto Components sector. It booked ₹455 cr of revenue in its latest quarter (Q1 FY27) and kept -73.8% of sales as profit. It is the 6th largest of 6 2/3 Wheelers companies we track, by market value.

FY 2025 marked a pivotal year for Ola Electric, defined by bold strides, critical learnings, and strategic recalibrations as we advanced our mission to accelerate India’s transition to electric mobility and #EndICEage.
Their stated mission

is to create what doesn't yet exist with the urgency of a nation that cannot afford to wait.

In the report:
28out of 100
Equitytale Health Score
Fragile

Healthier than 28% of companies in Automobile and Auto Components, on the 4 of 6 measures we could read for it. Each measure is ranked against the 38–48 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
43

At close. Not part of the score.

Profitability & returns0

How much profit it earns on the money it employs · lowest in its sector on what we could measure

Balance sheet10

How much it owes, and whether earnings cover the interest

Valuation61

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: cash quality, growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Some things to watch
Strengths
No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -73.8% net margin
! Sales down 45% vs last year
! Low -40.1% return on equity
! Operating cash flow is negative

What if I invest in OLAELEC?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹37 -1.21%
latest close · 2026-09-17
52-wk low ₹3642 sessions so far52-wk high ₹43
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio5.08High
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-40.1%Loss
WeakFairStrong ▸15%
Return on capital-21.3%Loss
WeakFairStrong
Net margin-73.8%Loss
ThinDecentStrong
EBITDA margin-29.9%Loss
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.74Moderate
LowModerateHigh ▸1
Interest cover-3.6×Risky
RiskyOkayStrong ▸5×
Current ratio1.14Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹17,026 cr
Book value
₹7
EPS
₹-0.75
latest quarter
Net debt
₹2,055 cr
owes more than its cash
Enterprise value
₹19,081 cr
EBITDA
₹-544 cr
annualised
EBIT
₹-1,052 cr
annualised
Operating margin
-57.8%
Return on assets
-17.3%
Earnings yield
P/S
9.36
Sales / share
₹3.9
Tax rate
Face value
₹10
Shares
462.8 cr
Working capital
₹402 cr
Current assets
₹3,251 cr
Current liabilities
₹2,849 cr
Delivery %
23.2%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The company's latest annual profit was negative, so we won't call it cheap off older profits.

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹455 cr
Other Income₹29 cr
Total Income₹484 cr
Cost of Materials₹381 cr
Purchases of Stock-in-Trade₹10 cr
Inventory Change (±)₹-74 cr
Employee Benefit Expense₹48 cr
Finance Costs₹73 cr
Depreciation & Amortisation₹127 cr
Other Expenses₹255 cr
Total Expenses₹820 cr
Profit before Tax₹-336 cr
Tax Expense₹0 cr
Net Profit₹-336 cr
Net margin on total income-69.4%
Where the money goes · Q1 FY27
% of total spend
Materials + stock-in-trade₹317 cr38.7%
Employee benefit expense₹48 cr5.9%
Finance costs₹73 cr8.9%
Depreciation & amortisation₹127 cr15.5%
Other expenses₹255 cr31.1%
Total income ₹484 cr

The company made a net loss of ₹336 cr this quarter — income covered only 59 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue470 cr265 cr455 cr
Total income504 cr304 cr484 cr
Expenses991 cr800 cr820 cr
Profit before tax-487 cr-496 cr-336 cr
Tax0 cr4 cr0 cr
Net profit (owners' share)-487 cr-500 cr-336 cr
Net margin (owners' share, on revenue)-103.6%-188.7%-73.8%
EPS (₹)-1.10-1.13-0.75
YoY (latest quarter): total income -46.0% · net profit
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹7,788 cr
Shareholder equity
₹3,351 cr
parent shareholders
Total debt
₹2,476 cr
Cash
₹421 cr
Cash flow · H1 FY26
Operating
₹-343 cr
Investing
₹1,221 cr
Financing
₹-605 cr
Peer comparison
2/3 Wheelers · by market value
CompanyPriceMarket capP/E
Bajaj Auto Limited₹11,500₹3.21 L cr24.9
Eicher Motors Limited₹7,494₹2.06 L cr35.1
TVS Motor Company Limited₹4,102₹1.95 L cr47.8
Hero MotoCorp Limited₹5,325₹1.07 L cr18.9
Ather Energy Limited₹1,550₹59,381 cr
Ola Electric Mobility Limitedthis company₹37₹17,026 cr
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
No pledge
Promoter
33.0%
FII / Foreign
4.1%
DII / Domestic
12.2%
Retail / others
46.3%
Promoter stake down 3.8% over the last 10 quarters.
Smart-money activity
Bulk / block deals
short · NSE2,50027 Aug 26
short · NSE27,25426 Aug 26
short · NSE120 Aug 26
Stake changes
SoldSVF II Ostrich ( DE) LLC→ 13.53% · 9.46 cr5 Jan 26
SoldSVF II Ostrich (DE) LLC→ 15.68% · 9.49 cr2 Sep 25
Promoter pledges
PledgedAxis Trustee Services Limited (on behalf of and for the benefit of i) Avendus Structured Credit Fund-II, and ii) Avendus Finance Private Limited4.84 cr · 0.00% held23 Nov 24
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 28 Feb 2026
See the official result
1
To approve the appointment of Mr. Navalur Dattatreya Singh Shashank (DIN: 02237496) as a Non-Executive Independent Director of the Company.
Backed by 100% of shareholders other than promotersneeded 75%
41.22 cr votes for, 12.75 L against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 23 named members
owning 33.0% between them · as of 2026-06-30
Bhavish Aggarwal26.52%
Ani Technologies Private Limited3.47%
Indus Trust (through its trustee Ankush Aggarwal2.98%
Ankush Aggarwalno shares
BA Family Office LLPno shares
Geospoc Geospatial Services Private Limitedno shares
Goddard Technical Solutions Private Limitedno shares
Krutrim AI Designs LLPno shares
Business done with them
FY2025 · 5 of the group
The company paid ₹225 cr to companies in the promoter group last year — about 5.0% of its ₹4,514 cr revenue and received ₹199 cr back from them.
ANI TECHNOLOGIES PRIVATE LIMITED
Other payments to them · Reimbursement of expenses (payment), RECEIPT,
also owns 3.47% of the company
₹191 cr
company paid
OLA Financial Services Private Limited
Other income from them · Reimbursement of expenses (payment), RECEIPT,
₹109 cr
company received
OLA Fleet Technologies Private Limited
Sold goods to them · Reimbursement of expenses (Payment), Reciept, Sale of Goods, Purchase of Services, Lease rental expense, Electricity and maintainnace charges, sales commission
₹59 cr
company received
Krutrim SI Designs Private Limited
Paid them for services · Sale of Property, plant and equipment
₹26 cr
company paid
Krutrim SI Designs Private Limited
Other income from them · Sale of Property, plant and equipment
₹19 cr
company received
ANI TECHNOLOGIES PRIVATE LIMITED
Other income from them · Reimbursement of expenses (payment), RECEIPT,
also owns 3.47% of the company
₹7 cr
company received
OLA Fleet Technologies Private Limited
Other income from them · Reimbursement of expenses (Payment), Reciept, Sale of Goods, Purchase of Services, Lease rental expense, Electricity and maintainnace charges, sales commission
₹4 cr
company received
OLA Fleet Technologies Private Limited
Other payments to them · Reimbursement of expenses (Payment), Reciept, Sale of Goods, Purchase of Services, Lease rental expense, Electricity and maintainnace charges, sales commission
₹4 cr
company paid
OLA Financial Services Private Limited
Other payments to them · Reimbursement of expenses (payment), RECEIPT,
₹2 cr
company paid
Krutrim SI Designs Private Limited
Sold property or assets to them · Sale of Property, plant and equipment
₹1 cr
company received
ANI TECHNOLOGIES PRIVATE LIMITED
Paid them for services · Reimbursement of expenses (payment), RECEIPT,
also owns 3.47% of the company
₹1 cr
company paid
Geospoc Geospatial Services Private Limited
Paid them for services · Purchase of services
₹1 cr
company paid

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it
1 fundraise spent differently than promised

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹7 cr raised in Apr 2026 by selling shares to large investors

As of Jun 2026, the company says it has spent 0% of what it set aside, leaving ₹7 cr still to be spent. CRISIL RATINGS LIMITED watches the spending on the exchange’s behalf.

Repayment/ Pre-payment, in part or in full, of certain outstanding borrowings availed by the Company and the Material Subsidiaries
0%
₹0 cr of ₹2 cr
Exoenditure incurred in relation to the organic growth initiatives
0%
₹0 cr of ₹3 cr
General Corporate Purposes
0%
₹0 cr of ₹2 cr
₹53 cr raised in Aug 2025 by selling shares to the public
⚑ company reported a change of plan

As of Jun 2026, the company says it has spent 76% of what it set aside, leaving ₹15 cr still to be spent. ICRA Limited watches the spending on the exchange’s behalf.

Capital expenditure to be incurred by our Subsidiary, OLA Cell Technologies Private Limited (“OCT”) for the Project
0%
₹0 cr of ₹12 cr
Repayment or prepayment, in full or part, of the indebtedness incurred by our Subsidiary, OET
100%
₹8 cr of ₹8 cr
Investment into research and product development
originally ₹16 cr
budget changed
98%
₹9 cr of ₹9 cr
Expenditure to be incurred for organic growth initiatives
originally ₹4 cr
budget changed
86%
₹11 cr of ₹13 cr
General corporate purposes
originally ₹13 cr
budget changed
99%
₹14 cr of ₹14 cr
Repayment or prepayment, in full or part, of the indebtedness incurred the Company and/ or its subsidiaries
now filed as: Repayment or prepayment, in full or part, of the indebtedness incurred the Company and/ or its subsidiaries
originally ₹0 cr
budget changed
89%
₹8 cr of ₹9 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.