Ola Electric Delivers Record 34.3% Gross Margin in Q3 FY26; Executes Structural Reset to Lower Breakeven and Strengthen Operating Leverage
Ola Electric Mobility Limited has announced its results for the quarter ended 31st December 2025. The company achieved a record consolidated gross margin of 34.3%, reflecting the structural advantages of its vertically integrated model, Gen 3 platform economics, and disciplined execution. The quarter marked a structural reset for the company, as it realigned its retail footprint, cost structure, and operating model to a sustainable steady state amid slower EV penetration growth and the need to strengthen service execution. Ola Electric has undertaken a comprehensive transformation of its operations, which is expected to bring quarterly consolidated opex down and lower the company’s EBITDA breakeven to about 15,000 units per month. The company’s Gigafactory is currently operating at approximately 2.5 GWh of installed capacity, with planned scale-up to 6 GWh by March 2026.
Key Highlights
- Ola Electric achieved a record consolidated gross margin of 34.3% in Q3 FY26
- The company undertook a comprehensive transformation of its operations to lower EBITDA breakeven to about 15,000 units per month
- Gigafactory is currently operating at approximately 2.5 GWh of installed capacity, with planned scale-up to 6 GWh by March 2026
- Q3 FY26 marked a significant milestone in Ola Electric’s Gigafactory ramp-up
- Ola Electric believes it is at the cusp of turnaround and is well positioned to capitalize on the next phase of India’s electrification growth