Ola Electric Mobility Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Ola Electric Mobility Ltd trades at ₹38.5, in a downtrend and 2 weeks into that stage. That is −3.1% against its own 200-day average. It sits at 45% of a 52-week range of ₹23 to ₹57. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (8 weeks and counting).

Today the stock is in a downtrend — week 2 of stage 4, confirmed. At ₹38.5 it trades −3.1% versus its 200-day average and sits at 45% of its 52-week range (₹23–₹57).

Against the market, two honest reads. Cumulative: over the last 2.1 years the stock moved −58% while the NIFTY 500 moved +1% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (8 weeks and counting; last ahead the week of 2026-07-17) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

P/E does not price Ola Electric Mobility Ltd — earnings are negative, so there is no multiple to rank against its own history. The revenue and margin lines below are where a turn, when it comes, would show first. On sales the market values Ola Electric Mobility Ltd at 7.9× its FY26 revenue of ₹2,253 Cr.

With earnings negative, P/E does not price — there is no multiple to rank against its own history. The revenue and margin lines below are where the turn, when it comes, will show first.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Ola Electric Mobility Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 9 quarters across 2 curves, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

4-Factor Sector Score

20.2/100 — rank 8 of 8 in Auto - 2 & 3 Wheelers · 65% evidence confidence

Ola Electric Mobility Ltd scores 20.2 out of 100 against the 8 companies it is compared with in Auto - 2 & 3 Wheelers, ranking 8. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 4.6 + 0.2 + 10 + 5.4 = 20.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Ola Electric Mobility Ltd reported ₹455 Cr of revenue in the Jun 26 quarter, −45.0% year on year. Over 5 years it has compounded at 368.3% a year. The last full year, FY26, came in at ₹2,253 Cr. The last four reported quarters add to ₹1,880 Cr.

FY26 revenue came in at ₹2,253 Cr (−50.1% on the year), capping 5 years at 368.3% compound. The latest quarter (Jun 26) printed ₹455 Cr, −45.0% year on year.

Pace check: the last four quarters averaged −50.0% growth against the decade's 368.3% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −49.2% over the last 4 quarters against −41.1%/yr over the last 8 — rolling over.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Ola Electric Mobility Ltd's operating margin is −36.0% in the Jun 26 quarter, −7.0 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged −27,700.0% to −25.0%. The current quarter sits inside that band.

The latest quarter's operating margin is −36.0%, −7.0 pp against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged −27,700.0%–−25.0%.

🚨 Why the margin moved: operating margin went −7.6 pp year on year while gross margin went +4.5 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Ola Electric Mobility Ltd posted a net loss of ₹336 Cr in the Jun 26 quarter. The full FY26 year was a loss of ₹1,833 Cr. That loss is 73.8% of the quarter's revenue. The same quarter a year earlier lost ₹428 Cr. 12 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹−336 Cr, null year on year. On the full year, FY26 printed ₹−1,833 Cr (null).

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Ola Electric Mobility Ltd's cash-flow history is too thin to judge how much reported profit converts into cash. In FY26 that was ₹−775 Cr of operating cash against ₹−1,833 Cr of profit. After ₹676 Cr of capital spending, ₹−1,451 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.

FY26: operating cash of ₹−775 Cr against reported profit of ₹−1,833 Cr, leaving free cash of ₹−1,451 Cr after ₹676 Cr of capital spending.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Router verdict: the bigger cash user is investment — capital spending ran 2.3× depreciation over three years, so the next section's job is to check what that build-out is buying.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Ola Electric Mobility Ltd's cash conversion cycle runs −91 days in FY26, down from 161 days in FY21. Capital spending ran ₹3,730 Cr over the last 3 years. At FY26 sales of ₹2,253 Cr each day of that cycle holds about ₹6.2 Cr, so roughly ₹−562 Cr sits inside the business at any moment.

FY26: debtors at 5 days, inventory at 63 days — roughly 2.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −91 days, tighter than FY21's 161.

The full loop: cash goes out to suppliers and production on day 0; stock waits 63 days to sell; customers pay about 5 days after that; and suppliers themselves are paid at 159 days — netting out to the −91-day cycle.

In money terms: at FY26 sales of ₹2,253 Cr, each day of the cycle holds about ₹6.2 Cr — so the −91-day loop keeps roughly ₹−562 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹3,730 Cr over the last 3 fiscal years against ₹1,608 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹496 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Ola Electric Mobility Ltd earns a ROCE of −20% in FY26. That is up from a trough of −32% in FY24. Return on invested capital clears the cost of that capital by −25.2 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is −81.4% net margin on 0.29× asset turns.

FY26 ROCE is −20%, recovered from a FY24 trough of −32% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): −81.4% net margin × 0.29× asset turns × 2.32× balance-sheet leverage ≈ −54.8% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: −13.2% − 12.0% = a −25.2 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Ola Electric Mobility Ltd carries total debt of ₹2,763 Cr against shareholder equity of ₹3,351 Cr as of Mar 26, a debt-to-equity of 0.82. On the annual view that ratio went from 1.34 in FY24 to 0.82 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹2,763 Cr against shareholder equity of ₹3,351 Cr — a debt-to-equity of 0.82. On the annual view, debt-to-equity went from 1.34 (FY24) to 0.82 (FY26). Read the returns on this page with that leverage in mind.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Domestic institutions added 7.0 points of Ola Electric Mobility Ltd over 7 quarters, the biggest move on the register. That takes domestic institutions to 12.2% of the company. Promoters moved −3.8 points over the same window, to 33.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: +7.0 points over 7 quarters to 12.2%; Promoters: −3.8 points over 7 quarters to 33.0%; Foreign institutions: −0.1 points over 7 quarters to 4.1%.

Why the register moved: domestic institutions drove it (+7.0 points), absorbed on the other side by promoters (−3.8 points) — steady accumulation by institutions reading the same numbers this page reads.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Ola Electric Mobility Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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