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Ola Electric shares sink to all-time low after 47% drop in monthly sales

EntrackrEntrackr · 7h ago
Ola Electric shares sink to all-time low after 47% drop in monthly sales
Medial

Ola Electric shares sink to all-time low after 47% drop in monthly sales Shares of Ola Electric Mobility hit an all-time low on Monday, sliding to Rs 23.82 on March 2, as the Bhavish Aggarwal-led electric two-wheeler maker slipped out of the top five players in the Indian EV scooter market amid a sharp fall in monthly sales. According to Vahan data, Ola Electric’s sales plunged over 47% month-on-month in February to 3,968 units, dragging its market share down to 3.55%. The sharp decline pushed the company out of the top five electric two-wheeler manufacturers for the month. The electric two-wheeler market also witnessed a slowdown in February, with total registrations falling more than 9% to 1,11,680 units, largely due to the shorter month. TVS Motor Company continued to lead the segment, clocking registrations of 31,600 units and maintaining a 28.3% market share during the month. Ola’s competitor, Ather Energy retained its third position with 20,581 registrations and 18.43% market share in February. On the financial front, Ola Electric's revenue from operations reduced to 470 crore in Q3 FY26, compared to Rs 1,045 crore in the previous year of the same quarter. Ola Electric cut its losses by 14% to Rs 487 crore in the same period. Ola Electric’s shares are currently trading at Rs 23.92. The company’s market capitalization stood at Rs 10,528 crore ($1.1 billion).

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Bhavish Aggarwal sells Rs 142 Cr Ola Electric shares for second straight session

EntrackrEntrackr · 2m ago
Bhavish Aggarwal sells Rs 142 Cr Ola Electric shares for second straight session
Medial

Bhavish Aggarwal sells Rs 142 Cr Ola Electric shares for second straight session Bhavish Aggarwal, founder and CEO of Ola Electric, sold 4,19,03,706 shares worth around 0.95% of the company’s equity through a bulk deal on the exchanges. The shares were offloaded at Rs 33.96 apiece, making the transaction value close to Rs 142 crore, based on stock exchange disclosures. This is the second consecutive trading session in which Aggarwal has reduced his shareholding in the company. His total share sales have cumulatively reached Rs 234 crore, with Rs 92 crore worth of shares being offloaded in the previous session. Following the bulk deal, Ola Electric stated that Aggarwal has undertaken a one-time and limited monetisation of his personal shareholding to fully repay a promoter-level loan of Rs 260 crore, resulting in the release of all previously pledged 3.93% shares. The company clarified that this transaction has no impact on Ola Electric’s operations, governance, or strategic direction. Despite this, the company’s stock hit an all-time low, ending at Rs 32.80 apiece and valuing the company at a market capitalisation of Rs 14,467 crore. Ola slipped to fourth position in terms of 2W EV Sales for November with its market share shrinking to 7.19%. It registered a 50% month-on-month drop in November, with registrations plunging to 8,254 units from 16,013 in October. For the second quarter of FY26, Ola Electric’s revenue fell 46% to Rs 660 crore, while losses widened to Rs 418 crore.

Ola Electric stock hits fresh low amid Bhavish Aggarwal’s third straight stake sale

EntrackrEntrackr · 2m ago
Ola Electric stock hits fresh low amid Bhavish Aggarwal’s third straight stake sale
Medial

Ola Electric stock hits fresh low amid Bhavish Aggarwal’s third straight stake sale Bhavish Aggarwal has offloaded shares for the third straight trading session, selling 2.83 crore equity shares at an average price of Rs 31.9 per share, amounting to Rs 90.28 crore, according to exchange disclosures. The latest transaction comes even as Ola Electric’s stock slid to a fresh 52-week low during the day, intensifying investor concerns around sustained promoter selling. With this tranche, Aggarwal has now sold over 9.6 crore shares in three consecutive sessions, taking the total value of stake sales this week to nearly Rs 325 crore. Earlier, he had sold shares worth Rs 92 crore on December 16, followed by a larger Rs 142 crore divestment on December 17. Ola Electric has previously clarified that the stake sales are part of a one-time monetisation exercise aimed at repaying a Rs 260-crore promoter-level loan and fully unwinding pledged shares, and do not signal any dilution of promoter control or long-term commitment to the company. The company had indicated that proceeds from the earlier tranches were being used to clean up the promoter’s personal balance sheet and remove a pledge overhang. However, the continued selling, particularly at a time when the stock is trading near record lows, has kept the counter under pressure. Ola Electric’s shares have now fallen sharply from their post-listing levels, reflecting a combination of promoter stake sales, weak market sentiment, and ongoing concerns around EV demand, competitive intensity, and execution challenges in the two-wheeler segment. Ola slipped to fourth position in terms of 2W EV Sales for November with its market share shrinking to 7.19%. The company also registered a harsh 50% month-on-month drop in November, with registrations plunging to 8,254 units from 16,013 in October. For the second quarter of the ongoing fiscal year FY26, Ola Electric’s revenue fell 46% to Rs 660 crore, while losses widened to Rs 418 crore.

Ola Electric, TVS, Bajaj expand e-scooter market share amid overall rise in sales

Economic TimesEconomic Times · 1y ago
Ola Electric, TVS, Bajaj expand e-scooter market share amid overall rise in sales
Medial

In FY24, Ola Electric, TVS Motors, and Bajaj captured larger market shares in the electric scooter market, according to government data. Ola Electric held a 35% share with 3,28,254 registrations, followed by TVS Motors (19%) and Bajaj Auto (12%). The overall non-transport electric two-wheeler market grew by 30% to 9,41,583 registrations. Okinawa and Hero Electric, however, lost market share and face potential legal action for not repaying subsidies. Despite a temporary decline due to reduced subsidies, the market rebounded. Ola Electric extended warranties and introduced plans to set up fast-charging points and expand service centers. Ola Electric's monthly sales reached a record high of 53,184 registrations in March.

Ola Electric's two-wheeler market share falls to 27% in September

EntrackrEntrackr · 1y ago
Ola Electric's two-wheeler market share falls to 27% in September
Medial

Ola Electric, an electric two-wheeler manufacturer, has seen a decline in its market share over the past three months. The Bengaluru-based company’s market share dropped to 27% in September, down from 32% in August and 39% in the previous month. Ola Electric achieved its highest market share during Q1 FY25 (June quarter), reaching a milestone of 49%. As per Vahan data, Ola Electric sold 23,965 units in September compared to 26,928 units in August and 40, 814 units in July. The Bhavish Aggarwal-led firm also hit an 11-month low of 23,965 units. Baja Auto, TVS Motors, Ather Energy and Hero MotoCorp were the next on the list with 21.27%, 20.26%, 14% and 5% market shares, respectively. This drop in market share follows a report from Goldman Sachs, which projected that Ola Electric is expected to reach EBITDA breakeven by the fiscal year ending March 2027. The decline in sales can be attributed to several factors, including customer complaints, malfunctioning hardware, and software glitches, among others. According to a recent report, Ola Electric received approximately 80,000 customer complaints per month. For the June quarter (Q1FY25), Ola Electric’s revenue from operations grew only 2.8% to Rs 1,644 crore in Q1 FY25 from Rs 1,598 crore in Q4 FY24. The company, however, managed to control its losses by 16.6% to Rs 347 crore in Q1 FY25. During the last fiscal year (FY24), it reported Rs 5,010 crore revenue and Rs 1,584 core loss. Ola Electric, which was listed on the stock exchange in early August, saw its share price drop below Rs 100 on Monday for the first time since its listing. Currently, its shares are trading at around Rs 102 each. The initial public offering (IPO) was priced at Rs 76 per share.

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