Ola Electric Mobility Ltd Q2 FY26 Results

Summary

Ola Electric's auto business achieved positive EBITDA of 0.3% in Q2 FY26, marking its first quarter of auto EBITDA profitability. The company's auto gross margin expanded sequentially by 510 bps to 30.7%. Ola Electric's cost optimization efforts have resulted in a 52% reduction in auto operating expenses compared to Q3 FY25. The company expects auto opex to decline to approximately $225 Cr by Q1 FY27, with consolidated opex targeted at $350-375 Cr.

Key Highlights

1. 1

   Ola Electric's auto business turned profitable in Q2 FY26

2. 2

   Gross margins expanded to 30.7%

3. 3

   Auto business is now cash generative

4. 4

   Launched Ola 2ifed, India’s first residential Battery Energy Storage System (BESS)

5. 5

   Ola Gigafactory commissioned with 2.5 GWh capacity

6. 6

   Roadster sales continued to grow QoQ

7. 7

   Launched HyperService, expanded genuine-parts access to customers and third-party garages

8. 8

   Achieved India's first government-certified ferrite motor in October 2025

9. 9

   Developing an in-house ADAS platform along with in-house ABS

10. 10

    Ola Cell commissioned 2.5 GWh of installed capacity

11. 11

    Ola 2IfFd launched, generating $100 Cr revenue in Q4 FY26 and $1,000-1,200 Cr in annual revenue in FY27

12. 12

    Targets total auto deliveries of approximately 100,000 units in H2 FY26

13. 13

    Ola Electric maintains a direct-to-customer distribution network of thousands of stores across India