Ola Electric Q1 results preview; 90% showrooms in Maharashtra face closure, says report

Shares of Ola Electric Mobility Ltd are in focus on Monday morning, as ahead of the company's June quarter results today, a media report emerged that suggested Maharashtra has decided to shut down nearly 90 per cent of Ola Electric's 450 showrooms in the state, as they lack the permit to store unregistered vehicles. For Ola Electric, which is expected to report losses in Q1, the state accounts for about 12 per cent of the 3,44,000 scooter sales it locked last financial year, Mint reported.

Maharashtra, as per the report, accounted for sales of 2,12,000 electric two-wheelers in FY24, making it the largest electric scooter market in India.

To recall, similar reports emerged in April anout shutting down of 100 stories in Maharashtra. Ola Electric on April 25 informed stock exchanges: "We wish to submit that we are not aware of any such negotiations/events regarding a notice from the authorities ordering immediate closure of over a 100 showrooms in Maharashtra. Additionally, we have already informed the exchange, via our intimation dated March 21, 2025, regarding the receipt of notices in four states pertaining to trade certificates for certain stores located in those states."

Ola Electric Q1 results preview

Ahead of Ola Electric's Q1 results, Kotak Institutional Equities expects the company to report a loss of Rs 459.30 crore for the June quarter against Rs 870 crore loss in the March quarter and Rs 324 crore loss in the same quarter last year. Revenue is seen tumbling 58.3 per cent YoY to Rs 685 crore from Rs 1,644 crore YoY. Ebitda loss may come in at Rs 289.30 crore. Ebitda margin may come in at minus 42.2 per cent, Kotak said. 

"We expect revenues to decline by 58 per cent YoY, driven by a 52 per cent YoY decline in volumes and 5-6 per cent YoY decline in ASPs due to higher mix of mass market EV scooters.

"We expect the company to report EBITDA loss of Rs 290 crore in 1QFY26 versus EBITDA loss of Rs 695 crore in 4QFY25. The reduction in losses will be driven by (1) lower provisions qoq, (2) cost-control measures, (3) operating leverage benefits and (4) higher mix of the Gen-3 platform," Kotak Institutional Equities said.

Ola Electric share price movement, target

Ola electric shares have fallen 15 per cent in the past one month and 54 per cent year-to-date. Ola Electric’s sales was down 45 per cent YoY in June. It had a market share 19.2 per cent in June 2025, which was down considerably from 46.1 per cent level. Ola began customer deliveries of its Roadster X electric motorcycle in May. 

Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets said Ola Electric Mobility is exhibiting a lower top–lower bottom formation on the daily charts, which is a clear sign of weakness. 
Traders, he said, could consider holding short positions at the current levels of Rs 39, with a stop loss placed at Rs 43. "The stock has the potential to decline towards the target range of Rs 31-28 over the next couple of weeks," Vasudeo told Business Today.