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Ola Electric, once the poster child of India's EV revolution, is now facing a challenging road ahead. After a muted IPO in 2024, the company's stock has taken a sharper detour. Following its Q4 FY25 results, the share price skidded nearly 4.7 per cent intraday on Friday (May 30, 2025).
With deepening losses, falling revenues, and auditor concerns, investor confidence has clearly stalled.
Q4 FY25 performance summary
| Metric | Q4 FY25 | Q4 FY24 | YoY change |
|---|---|---|---|
| Revenue from operations | Rs 611 crore | Rs 1,420 crore | - 62 per cent |
| Net loss | - Rs 870 crore | - Rs 416 crore | 109 per cent |
| Vehicle deliveries | 51,375 units | 1.15 lakh | - 55 per cent |
Why it matters
- Falling volumes: Competition in the EV two-wheeler space is intensifying, and Ola’s volumes are shrinking.
- Cash burn: Negative operating cash flow for FY25 stood at Rs 2,391 crore, raising concerns about sustainability.
- Auditor red flags: Ola’s auditors flagged doubts about its ability to continue as a 'going concern', citing operational losses, cash outflows, and accumulated deficits.
About the company
Ola Electric Mobility, a subsidiary of ANI Technologies (Ola Cabs’s parent), designs and manufactures electric two-wheelers in India. Known for its S1 range of electric scooters, the company has invested heavily in localisation, including building its own battery cell manufacturing facility.
Below is a look at the company’s fundamentals.
| Metric | Value |
|---|---|
| Market cap | Rs 22,209 crore |
| ROCE | - 33.2 per cent |
| P/B ratio | 4.3 |
| Book value | Rs 13.6 |
| EPS | - Rs 5.8 |
How does Value Research rate Ola Electric?
According to Value Research Online, Ola Electric has an overall rating of 1/5.
Here’s how it fares on other parameters.
- Quality: 1/10
- Growth: 5/10
- Valuation: 2/10
- Momentum: 1/10
The bottom line
While Ola Electric remains one of India’s most high-profile EV bets, the numbers tell a cautionary tale. With shrinking market share, operational stress, and no clear path to profitability, investors are questioning the hype.
The stock is now trading well below its IPO price and may remain under pressure unless the company turns around delivery volumes and curbs its cash burn.
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Disclaimer: This is not a stock recommendation. This story was created with the assistance of artificial intelligence and is intended for informational purposes only. Please take it with a pinch of salt and do your own research or consult a financial advisor before making investment decisions.
Disclaimer: This content is for information only and should not be considered investment advice or a recommendation.
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