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Ola Electric’s 2W market share declines to 24.5% in November

EntrackrEntrackr · 1y ago
Ola Electric’s 2W market share declines to 24.5% in November
Medial

India's electric two-wheeler market recorded a 29% year-on-year growth in November, with total sales exceeding 118,000 units. However, on a month-on-month basis, the segment registered a nearly 15% decline compared to October, according to Vahan data. Ola Electric retained its position as the market leader with 29,191 units sold, which accounted for 24.54% of the EV two-wheeler market. The Bhavish Aggarwal-led company’s market share has seen fluctuations over the past six months. In October, its market share rose to 30% from 27% in September. However, this remains lower than its earlier shares, which were 32% in August, 39% in July, and a peak of 49% in June. TVS Motor and Bajaj Auto remained in close competition in November with sales of 28,200 and 27,400 units, respectively. The two companies also closed the gap with Ola Electric, capturing 23% and 22% of the market share, respectively. Ola Electric’s arch rival Ather Energy secured the fourth position with 15,800 units, while Hero MotoCorp's electric division recorded 3,300 units. Ather, which is also on the verge of listing on the stock exchange, controls 11% share in EV two wheelers space. Similar to its performance in the EV two-wheeler market, Ola Electric’s share price has also seen fluctuations in recent months. In November, its shares were trading at Rs 72.72, nearly 54% lower than their peak of Rs 157.53 in mid-August. However, last week, the stock surged by nearly 30% following the announcement of a new scooter range. This new range, designed primarily for commercial use in commerce and deliveries, is expected to boost the company’s sales in the coming months. In Q2, Ola Electric recorded a 26% decline in its operating revenue to Rs 1,214 crore when compared to Rs 1,644 crore in Q1 FY25. However, the firm registered 39% year-on-year increase in revenue from Rs 873 crore in Q2 FY24. The company posted a net loss of Rs 495 crore during the September quarter.

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

EntrackrEntrackr · 3d 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 · 1d 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 losses surge 50% to Rs 564 Cr in Q3 FY25, revenue declines

EntrackrEntrackr · 10m ago
Ola Electric losses surge 50% to Rs 564 Cr in Q3 FY25, revenue declines
Medial

url: https://entrackr.com/news/ola-electric-losses-surge-50-to-rs-564-cr-in-q3-fy25-revenue-declines-8698803. Content: Ola Electric reported its Q3 FY25 results on Friday, showing a 19.4% year-on-year decline in revenue. At the same time, the company's losses grew by 50%, highlighting a challenging quarter for the SoftBank-backed electric mobility firm. Ola Electric’s revenue from operations decreased to Rs 1,045 crore in Q3 FY25 from Rs 1,296 crore in Q3 FY24, its unaudited consolidated financial statements sourced from the National Stock Exchange show. Income from the sale of electric scooters was the sole source of revenue for Ola Electric while the collection from the sale of batteries contributed only a small portion in the third quarter of the ongoing fiscal year. For the EV scooter manufacturer, the cost of procurement of materials accounted for 56% of the total cost which stood at Rs 851 crore in Q3 FY24. Employee benefits, advertising, and technical support were some other cost centers, taking the total burn to Rs 1,505 crore in Q3 FY25. A decline in sales and fixed costs caused Ola Electric's losses to rise by 50% in Q3 FY25, reaching Rs 564 crore compared to Rs 376 crore in the same quarter of the previous fiscal year (Q3 FY24). In January, Ola Electric regained its top spot in the electric two-wheeler (EV 2W) segment, capturing a 24.91% market share with 24,330 units sold, according to Vahan data. TVS Motors followed in second place, selling 23,788 units, while Bajaj Auto claimed a 21.80% market share with 21,294 units sold.

TVS Motor reclaims top spot in Nov E2W sales; Ola Electric plunges 50%

EntrackrEntrackr · 19d ago
TVS Motor reclaims top spot in Nov E2W sales; Ola Electric plunges 50%
Medial

TVS Motor reclaims top spot in Nov E2W sales; Ola Electric plunges 50% TVS Motor regained the top spot in November 2025 with a 25.92% share of the electric two-wheeler (E2W) market. At the same time, Ola Electric’s sales plunged nearly 50%, pushing the company down to the fifth position. According to Vahan data, overall E2W sales fell over 20% to 1.15 lakh units in November from 1.44 lakh in October, with the previous month benefiting from festive demand. Despite the broader decline, TVS Motor held steady with 29,756 registrations in November. Bajaj Auto slipped to the second spot as its E2W sales fell 20% to 25,085 units in November, down from 31,392 units in October. Bajaj’s market share dropped to 21.85%. Ather Energy retained its third position in November but saw a 30% month-on-month decline, with registrations falling to 20,018 units from 28,405 in October. The company holds a 17.43% market share. Hero MotoCorp moved up to the fourth spot despite a 26.34% month-on-month decline in sales. The company registered 11,795 units in November and held a 10.27% market share. After recording 20% growth in October, Ola Electric saw a sharp near-50% month-on-month decline in November, with registrations dropping to 8,254 units from 16,013. The company slipped to fifth position in E2W sales, with its market share falling to 7.19% from 11.16% in October. Greaves Electric Mobility, which was sixth in October, saw a 25.4% month-on-month decline and registered 5,692 units in November, holding a 4.96% market share. BGAUSS followed in seventh place with 2,557 units and a 2.23% market share. Despite the overall decline in E2W sales, River Mobility and Kinetic Green posted positive growth of 8.8% and 12.34% respectively in November, securing the eighth and ninth positions. In contrast, Pure EV slipped to tenth place after a steep 37.84% drop in sales.

Ola Electric can achieve EBITDA breakeven by FY27: Goldman Sachs

EntrackrEntrackr · 1y ago
Ola Electric can achieve EBITDA breakeven by FY27: Goldman Sachs
Medial

Ola Electric, the Bengaluru-based electric vehicle (EV) manufacturer, is projected to reach EBITDA breakeven by the fiscal year ending March 2027, according to a recent report by Goldman Sachs. The company is expected to see its revenue grow at 2.5 times the current rate, with a fivefold increase in vehicle volume over the next three years. “We expect FY24 to FY30E revenue growth of +40% CAGR (vs FY22 to FY24 of +240%), implying FCF breakeven (ex-subsidies) in FY30E. We expect OLAE to achieve 11.9% / 27% EBITDA margin / ROIC by FY30E vs -19.7% / -32.0% pc in FY24,” said the Goldman Sachs report. Despite the promising projection, Ola Electric’s revenue growth in FY24 and FY21 Q1 has been modest. Its 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. Goldman Sachs has issued a “buy” rating for Ola Electric, with a 12-month target price of Rs 160 per share, suggesting a potential 50% upside. Currently, Ola Electric shares are trading at Rs 113 per share. The brokerage firm expects Ola Electric’s revenue to increase by over 40% from FY24 to FY27. In contrast, TVS Motor, Bajaj Auto, and Hero MotoCorp are projected to grow by 16%, 19%, and 10%, respectively. As per the report, Ola Electric’s products are approximately 18% cheaper on a running cost basis when compared to its EV peers. Ola Electric’s market share rose from 21% in FY23 to 35% in FY24, and further to 49% in Q1 FY25, according to Jefferies. However, the share dropped to 39% in July and 32% in August. In August, TVS and Bajaj each held a 19% market share, while Ather Energy had a 12% share. The competition in the EV sector is expected to intensify as Ola Electric prepares to launch its motorcycle and electric three-wheeler (e-rickshaw) in the coming months. Meanwhile, Ather Energy, which is also gearing up for a public listing, has announced plans to begin manufacturing motorcycles as well.

Z47 stake in Ola Electric falls below 2% after recent partial exit

EntrackrEntrackr · 4m ago
Z47 stake in Ola Electric falls below 2% after recent partial exit
Medial

Z47 stake in Ola Electric falls below 2% after recent partial exit Ola Electric’s early backers, Z47 (formerly Matrix Partners India) and Tiger Global Management, have trimmed their stakes in the Bengaluru-based company during the April–June 2025 quarter, as per stock exchange disclosures filed for the period. Z47 reduced its holding from 2.72% to 1.93%, a cut of approximately 0.81 percentage points. Based on an average share price of Rs 41, the VC firm is estimated to have earned around Rs 147–150 crore from the sale. Tiger Global also marginally reduced its stake from 3.45% to 3.24%, with an estimated Rs 39–45 crore. Its remaining stake, held via Internet Fund III, is currently valued at Rs 587 crore. The reduction in its stake in Ola Electric comes as Z47 actively explores secondary stake sales in other portfolio companies, including OfBusiness, Razorpay, and Dailyhunt’s parent VerSe. Despite the partial exits, both Z47 and Tiger Global remain on Ola Electric’s cap table with meaningful minority stakes. SoftBank, AlphaWave, Temasek, and Citigroup are some notable investors in the EV firm. Ola Electric’s revenue continues its downward spiral with yet another sharp drop in the latest quarter. Its revenue from operations decreased by 49.6% to Rs 824 crore in Q1 FY26, compared to Rs 1,644 crore in Q1 FY25. Its grew 23.3% year-on-year to Rs 428 crore during the same period. The company is currently trading at Rs 40.7 per share (as on 02 PM) with a total market capitalization of Rs 17,925 crore ($2.1 billion). Ola Electric also slipped to the third spot in July with 17,848 registrations, down 57% YoY, as its market share fell to 17.35%. Meanwhile, Ather Energy narrowed the gap with 16,231 units and a 15.78% share. The dip adds to Ola Electric’s mounting challenges as rivals like TVS and Bajaj consolidate their positions at the top.

Ola Electric market share drops more than 30% in last two months

EntrackrEntrackr · 1y ago
Ola Electric market share drops more than 30% in last two months
Medial

Electric scooter manufacturer Ola Electric, which recently went public, has registered a major downfall in its market share among the electric two wheelers segment in the past two months. Ola Electric market share subsequently slipped to 39% in July and further down to 33% in August (month-to-date), according to investment banking and capital markets firm Jefferies. At the same time, TVS regained market share at 19% at August (MTD) against 15% in Q1 FY25. Ola Electric has emerged as the dominant OEM in India’s electric two-wheelers market as its market share rose from 21% in FY23 to 35% in FY24 and further to 49% in Q1 FY25, the report added. Jefferies attributes expansion of product portfolio and aggressive pricing to the rise in Ola Electric’s market share. During FY24, Ola Electric sold 3,29,618 scooters, almost 2X as compared to FY23. This also reflected in the company’s scale which grew nearly two-fold to Rs 5,010 crore in FY24 from Rs 2,631 crore in FY23. As per the report, Bajaj’s market share has also risen from 11% in FY24 and 12% in Q1 FY25 to 18% in August MTD. Hero is still lagging among incumbents with 5% market share in August while Honda has no-play in the electric space. Meanwhile, the Bhavish Aggarwal-led company has announced plans to launch affordable electric motorcycles Roadster which will be ready for delivery by Diwali next year. Despite the fall in volume, the electric two wheeler space continues to be dominated by Ola Electric followed by TVS, Bajaj Auto, Ather Energy and Hero MotoCorp. Interestingly, Jefferies’ report has not mentioned anything on Ather, which recently turned unicorn and is on the verge of becoming the second public company from the EV startup ecosystem. Currently, Ola Electric’s shares are trading at Rs 128, up from the initial public offering price of Rs 76 per share.

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