Ola Electric Mobility (OLAELEC) investor relations material

Executive summary

• Q1 FY 2027 marked a strong turnaround, with growth in deliveries, market share, and gross margins on a leaner cost base.

• Unaudited standalone and consolidated financial results for Q1 FY27 were approved and released, with a qualified audit opinion due to a provision reversal related to a government incentive scheme.

• Deliveries nearly doubled quarter-on-quarter to 39,200 units, with orders at 44,000.

• The company completed a major operating model reset in FY 2026, optimizing costs and streamlining execution.

• Appointment of TRC Corporate Consulting Private Limited as Internal Auditor for FY27 was approved.

Financial highlights

• Automotive revenue rose 72% sequentially to INR 455 crores; gross profit reached INR 139 crores.

• Consolidated revenue from operations for Q1 FY27 was INR 455 crore, up from INR 265 crore in the previous quarter.

• Market share increased from 5.1% to 8.4% as registrations grew 97% quarter-on-quarter, outpacing the 17% industry growth.

• Automotive gross margin held at 30.5% despite commodity headwinds.

• Consolidated net loss for Q1 FY27 was INR 336 crore, compared to a net loss of INR 500 crore in the previous quarter.

Outlook and guidance

• Management targets further OpEx reduction to INR 300–325 crores over the next quarters.

• Gross margins expected to remain steady or improve as commodity prices ease.

• Management asserts the group will continue as a going concern, supported by recent capital raises, business expansion, and expected operational efficiencies.

• Most vehicles expected to transition to in-house cells by year-end.

• No specific volume or revenue guidance, but steady disciplined growth is anticipated.