Ola Electric slides 5% as Emkay reiterates 'Sell' on Rs 25 target despite narrowing Q4 loss
Q4FY26 revenue collapsed 57% YoY to Rs 265 crore and volumes fell 61% even as net loss narrowed 42.5% to Rs 500 crore. Emkay flags weak Q1FY27 order run-rate of 40,000-45,000 units and prefers Ather and TVS Motor in the E-2W theme, keeping a Sell with Rs 25 target.
What happened
Ola Electric shares fell 5% after Q4FY26 revenue dropped 57% YoY and volumes 61% YoY, though net loss narrowed 42.5%. Emkay maintains 'Sell' with Rs 25 target,
Key facts
- revenue down 57% YoY
- volume down 61% YoY
- net loss Rs 500 crore
- revenue Rs 265 crore
- EBITDA loss Rs 281 crore
- gross margin 38.5%
- target price Rs 25
- Q1FY27 orders 40,000-45,000 units
Why this matters
With volumes more than halved and competitors consolidating leadership, Ola Electric's strategic optionality is shrinking—partnership, capital infusion, or portfolio rationalization moves should be on the table now.