Ola Electric Mobility Ltd’s stock tumbled more than 7% in early trade on February 16, 2026, erasing recent gains after the company posted underwhelming Q3 FY26 results. Shares hit an intraday low of ₹36.80, down from the previous close of ₹40.05 on NSE. Revenue crashed 57% year-on-year to ₹504 crore, from ₹1,172 crore last year, and fell 33% quarter-on-quarter from ₹756 crore. EBITDA loss narrowed to ₹376 crore from ₹460 crore YoY but widened QoQ from ₹328 crore. Net loss stood at ₹487 crore, better than ₹564 crore YoY but up from ₹418 crore in Q2. Challenges mounted with deliveries dropping to 8,647 units from 9,000+ prior quarters, hit by service network woes and competition. Ola cited heavy investments in backward integration and capacity as drags, but promised an end to capex intensity soon. Brokerage Emkay Global turned bearish, downgrading to ‘Sell’ from ‘Buy’ and cutting the target price 60% to ₹20 from ₹50. Analysts flagged execution risks, persistent service complaints, and EV sector headwinds like subsidy cuts. “Ola’s market share erosion and margin pressures persist,” they noted.
CEO Bhavish Aggarwal emphasized a turnaround phase: “Investment cycle peaks now; we’ll ramp capacity to 1 million units/year and fix service issues.” Ola plans S1+ scooter launches and Play 2.0 upgrades to regain momentum amid rivals like TVS iQube and Bajaj Chetak gaining ground. Despite FY25 highs, Ola’s market cap has halved from its peaks. Investors eye Q4 delivery recovery and festive demand. At current levels, the stock trades 80% below the IPO price, testing long-term EV bettors.
Ola Electric Shares Plunge 7% on Dismal Q3 Results
