Ola Electric slides 6% as Q4 revenue collapses 57% to ₹265 cr; first cash-positive quarter offers thin silver lining
Ola Electric's Q4FY26 print rattled investors as revenue cratered 57% YoY to ₹265 cr and net loss stayed wide at ₹500 cr. Gross margin expanded to 38.5% and CFO turned positive at ₹91 cr — the maiden operating-cash-positive quarter. Emkay reiterates 'sell' with a ₹25 target as Ather and TVS keep pressure on share.
What happened
Ola Electric shares fell 6% after Q4FY26 results showed revenue dropping 57% YoY to ₹265 cr, though net loss narrowed to ₹500 cr and gross margins hit 38.5%.
Key facts
- share -5.65%
- net loss ₹500 cr
- revenue ₹265 cr -57% YoY
- EBITDA loss ₹281 cr
- gross margin 38.5%
- CFO +₹91 cr
- TP ₹25
Why this matters
Ola's weakening top line and persistent losses make it a vulnerable consolidation target or distressed partnership candidate as TVS and Ather widen their competitive moat.