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Ola Electric Mobility’s share price fell 3.5% in intra-day trading on Tuesday, February 17, hitting a 52-week low; What should investors do?
Ola Electric Share Price.
Ola Electric Mobility’s share price fell 3.5% in intra-day trading on Tuesday, February 17, hitting a 52-week low of Rs 27.82 after the company reported weak earnings for the December quarter of 2025-26 (Q3FY26). The stock is currently 61% below its 52-week high of Rs 71.24, reached in September 2025.
Tuesday marked the fourth consecutive session of decline, during which Ola Electric has lost over 12%. The stock is also over 62% below its IPO price of Rs 76 per share and has plummeted 82% from its all-time high of Rs 157.40, recorded in August 2024.
The stock has been under sustained pressure, falling 54% over the past year and 32% in the last six months, while also losing 34% and 25% in the last three and one month, respectively.
Q3FY26 Results: Revenue Drop, Margin Gains
In a regulatory filing on Friday, February 13, Ola Electric reported a net loss of Rs 487 crore for Q3FY26, narrowing from a loss of Rs 564 crore in the same quarter last year (Q3FY25).
However, consolidated revenue from operations dropped sharply by 55% YoY to Rs 470 crore, compared with Rs 1,045 crore in Q3FY25. During the quarter ended December 31, 2025, the company delivered 32,680 units.
The Bengaluru-based EV maker described the quarter as a “structural reset,” realigning its retail footprint, cost structure, and operating model to achieve a sustainable steady state amid slower EV penetration and the need to strengthen service execution.
Margin Improvement and Operational Transformation
Ola Electric reported a record consolidated gross margin of 34.3%, up 15.7 percentage points YoY and 3.4 percentage points QoQ. The improvement was attributed to vertical integration, Gen 3 platform economics, and disciplined execution.
The company said, “Q3 FY26 marked a structural reset for Ola Electric. We focused on restoring service execution, resetting costs, and deepening vertical integration, resulting in a leaner operating model, lower breakeven, and industry-leading gross margins.”
It also highlighted AI-led automation and optimization of its store and service network as key initiatives. These moves are expected to reduce quarterly consolidated operating expenses to Rs 250–300 crore, bringing the EBITDA breakeven to around 15,000 units per month.
As demand recovers, Ola Electric expects the new operating model to support 3–4x volume scaling with minimal incremental costs, providing stronger operating leverage and a clearer path to sustainable profitability.
Analyst View
Brokerage Emkay Global downgraded Ola Electric from ‘Buy’ to ‘Sell’, lowering its target price to Rs 20 per share from Rs 50. The revised target implies a downside of over 35% from the stock’s previous close of Rs 30.89.
Emkay cited weak Q3 performance, with Ola’s deliveries declining to around 32,000 units and loss of market share despite the broader electric two-wheeler segment remaining structurally strong. The brokerage noted that industry penetration is rebounding post-GST rate cuts, but Ola faces intensified competition from incumbents and peers like Ather Energy, making recovery potentially prolonged and challenging.
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February 17, 2026, 11:04 IST
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