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In its Q2FY26, Ola Electric reported a consolidated net loss of Rs 418 crore as against Rs 495 crore in the same period last fiscal year.The Bhavish Aggarwal led EV maker's revenue from operations fell 43 per cent year-on-year to Rs 690 crore compared to Rs 1,214 crore in Q2FY25.The company posted a consolidated revenue from operations of Rs 690 crores, delivering 52,666 units in Q2FY26.In Q2 FY26, the Bengaluru-headquartered EV firm's auto business recorded positive EBITDA of 0.3%, as against -5.3% in Q1 FY26.Meanwhile, the company reported cash flow from operations of -Rs 40 crore, due to a one-time festive inventory build-up of Rs 55 crore.On the auto gross margin, Ola Electric said its auto gross margin expanded sequentially by 510 bps to 30.7%, higher than most ICE 2W companies, with minimal PLI contribution of 2.0%.The company also expects its auto operating expenditure to decline to approximately Rs 225 crore by Q1 FY27, with consolidated operating expenditure targeted at ₹350-375 crore through operational consolidation and technology-driven efficiencies.In Q2 FY26, Ola Electric's cell vertical commissioned 2.5 GWh of installed capacity, while launching Ola शfRत, a Battery Energy Storage System (BESS) using the company's Bharat 4680 cell"The company expects शfRत to generate Rs 100 crore revenue in Q4 FY26 and Rs 1,000-1,200 crore in annual revenue in FY27 with 40-50% gross margins,' Ola Electric said. "The company plans to expand into containerized energy storage systems for commercial, industrial, and utility-scale use by Q1 FY27, offering 100 kWh to 5 MWh systems. To support this growth, the company plans to expand total cell manufacturing capacity to 20 GWh by the second half of FY27," it said. "For H2 FY26, the company targets total auto deliveries of approximately 100,000 units. On a full-year basis, the company now expects FY26 consolidated revenue of approximately Rs 3,000-3,200 crore with new Ola शfRत volumes beginning in Q4 to grow and diversify the top line," the EV maker said. Further, it said that its "auto segment is expected to exit Q4 with gross margins around 40% and segment EBITDA of around 5%".The cell business will start contributing to revenue from Q4 onward through inter-group supply and external शfRत sales, with cell gross margins expected to stabilize at 30% by early FY27, it added.Ola Electric Mobility Limited is India's leading electric vehicle (EV) manufacturer. It specialises in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. The Ola Future factory in Tamil Nadu, where EVs and critical components are produced, is developing India's most significant EV hub.
