Ola Electric Q2 Results: Bhavish Aggarwal's Firm Posts Rs 15 Crore Operating Cash Flow For Auto Business
Ola Electric said the Roadster now accounts for about 15% of its overall sales and achieved peak sales of 450 units per day during the festive period.
Ola Electric's Q2 FY26 shareholder letter, shared by CEO Bhavish Aggarwal, announces the auto segment's first Ebitda profitability at 0.3%, with operational cash flow of Rs 15 crore and gross margins expanding to 30.7%.
The update marks a milestone for Ola Electric following its 2024 public listing, which has since seen network expansion and regulatory challenges. The company said Roadster sales rose fourfold quarter-on-quarter, while it commissioned India’s first gigawatt-scale battery manufacturing unit with a capacity of 2.5 GWh.
Aggarwal said in a post on X that the company’s auto business had turned profitable and cash generative during the quarter. He said the reported cash flow after a one-time festive inventory build-up stood at negative Rs 40 crore. “Our gross margins have expanded to 30.7%, higher than most ICE two-wheeler companies,” he said, adding that the results reflected the benefits of vertical integration and operational discipline.
Ola Electric said the Roadster now accounts for about 15% of its overall sales and achieved peak sales of 450 units per day during the festive period. The company has also developed India’s first government-certified ferrite motor, which eliminates reliance on rare-earth imports. Under its HyperService initiative, Ola is opening its service and spare parts network to third-party garages to enhance customer access.
The company said it is scaling its energy operations alongside its vehicle business. Its Gigafactory, now operational with a 2.5 GWh cell manufacturing capacity, is expected to expand to 5.9 GWh by March 2026. Vehicles powered by in-house developed 4680 Bharat Cells have already reached customers, with full migration to proprietary cells expected within the next six to nine months.
Aggarwal said the company’s expansion into the energy storage market began in October with the launch of Ola Shakti, a residential battery energy storage system. Ola Electric plans to enter the commercial and utility-scale segments by the first quarter of FY27 and aims to raise its total cell capacity to 20 GWh by the second half of FY27.
He said the company’s long-term goal is to build a complete electric vehicle and energy ecosystem in India, adding, “The future is electric. The future is Made in India.”
