Ola Electric's Auto Business Turns Profitable in Q2 FY26; Margins Expand
Ola Electric's auto business turns profitable in Q2 FY26 with 30.7% gross margin. Launches residential Battery Energy Storage System (BESS) and commissions Gigafactory. Targets ₹3,000-3,200 crore revenue for FY26.
The achievement of profitability and significant revenue targets, along with expansion in cell manufacturing, represent a high impact on the company's performance and future prospects.
The announcement highlights the company achieving profitability in its auto business, strong margin expansion, and new product launches, all indicating positive developments.
* Ola Electric's auto business achieved profitability for the first time in Q2 FY26, with a gross margin of 30.7%. * The auto business is now cash-generative, with ₹15 crore cash flow from operations. * Ola Electric launched Ola शिit, India’s first residential Battery Energy Storage System (BESS) built with Ola’s in-house 4680 Bharat Cells. The company expects ₹100 crore revenue in Q4 FY26 and ₹1,000-1,200 crore in FY27 from this. * Ola Gigafactory commissioned with 2.5 GWh capacity and on track to reach 5.9 GWh by March 2026. * Roadster sales continued to grow QoQ, representing about 15% of overall sales. * Launched HyperService to expand genuine-parts access to customers and third-party garages. * Consolidated revenue from operations for Q2 FY26 stood at ₹690 crore with total deliveries of 52,666 vehicles. * The company expects auto opex to decline to approximately ₹225 crore by Q1 FY27, with consolidated opex targeted at ₹350-375 crore through operational consolidation and technology-driven efficiencies. * For H2 FY26, the company targets total auto deliveries of approximately 100,000 units and expects FY26 consolidated revenue of approximately ₹3,000-3,200 crore. * The auto segment is expected to exit Q4 with gross margins around 40% and segment EBITDA of around 5%. * The cell business will start contributing to revenue from Q4 onward, with cell gross margins expected to stabilize at 30% by early FY27.
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