India's Ola Electric falls; brokerages wary despite margin optimism

Ola Electric Mobility

15/07/2025 06:12

** Ola Electric Mobility OLAE.NS falls as much as 4.1% to 45.16 rupees

** Co forecast improved gross margins for FY26 after posting narrower sequential Q1 loss on Monday

** Ambit Capital says co expects margin gains from Q2 due to PLI approval, efficiency improvements

** Adds, "We find this ambitious due to delays in fully commercialising captive cell plant, pending PLI approval"

** Investec says while co's margins expected to rise, volume growth could moderate due to slowdown in EV industry, increased competition

** Notes delay in cell manufacturing ramp up may lead to exclusion from PLI

** Goldman Sachs recognises co's efforts to shift towards positive EBITDA, FCF breakeven, but believes market requires greater clarity on volume growth, market share execution

 (Reporting by Meenakshi Maidas in Bengaluru)

 ((meenakshi.maidas@thomsonreuters.com;))