Ola Electric Reports 34.3% Gross Margin in Q3 FY26 Amid Structural Reset
Ola Electric's consolidated revenue reached Rs 470 crore with 32,680 unit deliveries in Q3 FY26. The company underwent a structural reset to optimize its retail footprint and cost structure amidst slower EV growth. Gross margin improved to 34.3%, up 15.7 percentage points year-on-year. The firm aims to reduce quarterly operating expenses to Rs 250-300 crore, lowering EBITDA breakeven to 15,000 units per month. Additionally, the company doubled cell production and launched its first residential BESS product.
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Ola Electric reported a consolidated revenue of Rs 470 crore and 32,680 deliveries in Q3 FY26. The company executed a structural reset to enhance its retail footprint and cost structure in response to slower EV penetration.
It achieved a gross margin of 34.3%, up from the previous year, driven by its vertically integrated model and operational discipline. The company plans to reduce quarterly operating expenses to Rs 250-300 crore, aiming for an EBITDA breakeven of 15,000 units monthly.
Notably, it doubled cell production to 72,418 cells and launched its first residential Battery Energy Storage System, Ola Shakti. The Gigafactory is currently at 2.5 GWh capacity, with plans to scale to 6 GWh by March 2026.
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