Ola Electric Q4 FY26 Results: Operating Cash Flow Positive, Gross Margin at 38.5%
Ola Electric reported Q4 FY26 results, becoming operating cash flow positive with ₹91 crore CFO. Consolidated gross margin reached 38.5%, up from 13.7% in Q4 FY25. Revenue was ₹265 crore for Q4 FY26 and ₹2,253 crore for FY26. The company expects Q1 FY27 orders to double to 45,000 units.
The key highlights of becoming operating cash flow positive for the first time, significant improvement in gross margins, and strong sales performance in a declining market indicate a substantial positive impact on the company's financial health and market position. The positive outlook for Q1 FY27 orders further reinforces a high impact.
The announcement highlights positive financial metrics such as an increase in gross margin, turning operating cash flow positive for the first time, and significant reduction in operating expenses. The strong sales growth in April against an industry decline and positive future outlook also contribute to a positive sentiment.
Ola Electric Mobility Limited has announced its audited standalone and consolidated financial results for the fourth quarter and financial year ended March 31, 2026. FY26 was a year of business fundamentals reset, focusing on service, product quality, gross margins, operating costs, cash discipline, sales productivity, and cell manufacturing.
In Q4 FY26, consolidated gross margin expanded to 38.5%, up from 34.3% in Q3 FY26 and 13.7% in Q4 FY25. This marks Ola Electric's first operating cash flow positive quarter, with a consolidated CFO of ₹91 crore. Consolidated FCF improved to -₹131 crore. The Auto business delivered ₹213 crore CFO and ₹173 crore FCF in Q4 FY26.
Consolidated revenue from operations stood at ₹265 crore in Q4 FY26 and ₹2,253 crore for FY26. Ola Electric delivered 20,256 units in Q4 FY26 and 173,794 units for FY26. Consolidated gross margin was 30.6% for FY26.
Operating expenses, including lease rentals, reduced from ₹844 crore in Q4 FY25 to ₹428 crore in Q4 FY26, with further reduction expected towards ₹350 crore per quarter.
Service TAT reduced by 88% to nearly 1 day in March 2026. April registrations rose to 12,166 units, up 20% month-on-month, while the broader E2W industry declined over 22%. The Roadster electric motorcycle has achieved a 50% market share in its segment.
The Gigafactory has 2.5 GWh operational capacity, with installation to 6 GWh largely complete. The company expects Q1 FY27 orders to double quarter-on-quarter to nearly 45,000 units. Ola Electric expects the Auto business to move towards Adjusted Operating EBITDA and free cash flow positivity through FY27.
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Ola Electric Mobility Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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