Published: 01st Aug 2024
By: Value Research
Ola Electric is India’s largest electric two-wheeler (E2W) manufacturer, which holds the highest market share of 35% in the E2W industry (as of FY24).
Total IPO size (Rs cr) 6146 Offer for sale (Rs cr) 646 Fresh issue (Rs cr) 5500 Price band (Rs) 72 - 76 Subscription dates August 2, August 5 and August 6, 2024 Purpose of issue To fund capital expenditure, R&D expenses and repay debt
33522 Net worth (Rs cr) 7519 Promoter holding (%) 36.8 Price/earnings ratio (P/E) - Price/book ratio (P/B) 4.5M-cap (Rs cr)
Key financials 2Y growth (% pa) FY24 FY23 FY22 Revenue (Rs cr) 266.5 5010 2631 373 EBIT (Rs cr) - -1625 -1420 -849 PAT (Rs cr) - -1584 -1472 -784 Net worth (Rs cr) 2019 2356 3661 Total debt (Rs cr) 2711 1704 804
PAT is profit after tax EBIT is earnings before interest and tax
3Y average (%) FY24 FY23 FY22 ROE (%) -54.1 -78.5 -62.5 -21.4 ROCE (%) -28.4 -31.7 -29.8 -23.7 EBIT margin (%) -104.6 -32.4 -54 -227.5 Debt-to-equity 0.7 1.3 0.7 0.2Ratios
ROE is return on equity ROCE is return on capital employed
With a strong brand recall and market leadership, Ola Electric stands to benefit from the growing consumer preference and demand for electric two-wheelers.
Its gigafactory, once fully constructed, will help the company reduce its reliance on external suppliers for sourcing battery pack cells, which form a crucial cost component in an EV.
The company has never had any profits or cash flows since its inception. Can it breakeven? Our full analysis has all the details. Check it from the link below.