Ola Electric Mobility share price slumped over 6% in early trade on Monday, after the company reported its Q1 results, with a drop in revenue and narrower losses. Ola Electric shares fell as much as 6.06% to Rs 38.58 apiece on the BSE.
Electric Vehicles (EV) maker Ola Electric Mobility reported a consolidated net loss of Rs 336 crore in the fiscal first quarter ended June 2026, down from a loss of Rs 428 crore in the same quarter last year and Rs 500 crore in the March quarter.
The company's revenue from operations in Q1FY27 fell 45% to Rs 455 crore from Rs 828 crore, year-on-year (YoY).
Ola Electric Mobility said its registrations grew 97% QoQ, significantly outpacing the broader E-two-wheeler market, which grew 17%. The company's market share increased from 5.1% in Q4FY26 to 8.4% in Q1FY27, while Auto revenue rose 72%, sequentially.
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The company's orders nearly doubled to about 44,000 units from 22,522 units in the previous quarter, while deliveries grew to approximately 39,200 units from 20,256 units.
Analysts remain cautious on the company's weak volumes, lower average selling prices and margin pressure. While the company's cost-control measures and reversal of a provision related to battery PLI targets provided some support, but were not enough to offset weaker operating performance.
Should investors buy, sell or hold Ola Electric shares after Q1 results:
Foreign brokerage firm Citi said that Ola Electric's weak volumes and lower gross margin offset the benefits of cost control and reversal of the PLI penalty provision. Additionally, the competition in the electric two-wheeler market is escalating, while the positive impact from the shift to a dealership-based model remains uncertain at this stage.
Citi sees the company's operating performance as comparatively weaker. It maintained a ‘Sell' rating on Ola Electric shares with a target price of Rs 26 apiece.
ALSO READ: Ola Electric Q1 Review: Brokerages Flag Weak Volumes, Cash Burn — Check Target Price
Goldman Sachs has a ‘Neutral' call on the stock, but raise Ola Electric share price target to Rs 40 from Rs 38.90 earlier.
It said that the cash burn remains a concern, and continues to remain cautious given weak operating performance and cash-flow pressure.
Kotak Institutional Equities maintained a ‘Sell', with Ola Electric share price target of Rs 20 apiece.
It noted that volume scale remains the critical hurdle and continued free cash flow outflow remains another challenge despite the QIP. The brokerage firm believes the company could need to raise capital if the current volume trajectory does not improve.
Technical Outlook
Ola Electric share price has witnessed a pullback of nearly 17% from the low of Rs 36 recorded on July 23, before undergoing a minor correction and moving close its 100-day EMA, noted Sudeep Shah - Head of Technical and Derivatives Research at SBI Securities.
“However, over the past four months, Ola Electric stock price has been consolidating within the Rs 33 – 49 range, reflecting a sideways bias. The moving averages have flattened, while the ADX has remained subdued, indicating a lack of clear directional momentum and volatility,” said Shah.
According to him, a decisive breakout on either side of the Rs 33 – 49 range could provide further directional cues for the stock.
At 9:25 AM, Ola Electric share price was trading 3.38% lower at Rs 39.68 apiece on the BSE.
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