'Not bookings; nearly 90% of orders were paid in full': Ola Electric on February sales
Ola Electric shares edged up 0.14 per cent to close at Rs 50.90. At this price, the stock has crashed 40.97 per cent on a year-to-date (YTD) basis.
- Apr 8, 2025,
- Updated Apr 8, 2025 6:06 PM IST
Ola Electric Mobility Ltd clarified on Tuesday that its February 2025 sales represented genuine customer demand and not token bookings.
"Our February 2025 sales announcement was based on paid and confirmed orders, not preliminary 'bookings'. In February, we disclosed our sales data based on these paid orders as our routine registration process — reflected on the VAHAN portal — was disrupted due to a transition of the process in-house as part of an efficiency initiative. Since then, we have faced consistent negative commentaries from some quarters," the pure-play electric vehicle (EV) firm stated.
"To be clear, the sales figures for February 2025 represent genuine customer demand backed by financial commitment, not token-amount bookings. Nearly 90 per cent of these orders were paid in full at the time of placement. This includes customer orders for our new products, Gen 3 and Roadster X, which have been available for full purchase (not just pre-booking) during February 2025," the Bhavish Aggarwal-led company also said.
"It is essential to underscore that vehicle deliveries are sequenced to follow confirmed orders with full payment — a standard and universally accepted industry practice. Any attempt to conflate bookings with full payment orders, or to suggest that deliveries must precede or immediately follow orders, misrepresents how the automotive industry functions. It is also important to note that the company recognises revenue only upon completion of the registration and delivery of the vehicles," the EV firm further stated.
Separately, the company informed bourses that it has nearly cleared the February backlog and expects to complete the remaining February-March registrations in April 2025. It registered sales of 23,430 units in March 2025.
To recall, brokerage Nomura last month mentioned that Ola Electric sold 8,600 units in February, citing Vahan data, with market share dropping significantly to 11.4 per cent against 25 per cent in January 2025. However, the domestic EV firm maintained that it sold 25,000 units in February, maintaining a market share of 28 per cent during the month.
On the stock-specific front, Ola Electric edged up 0.14 per cent to close at Rs 50.90. At this price, the stock has crashed 40.97 per cent on a year-to-date (YTD) basis. It saw heavy trading volume on BSE as around 49.07 lakh shares changed hands. The figure was higher than the two-week average volume of 39.86 lakh shares. Turnover on the counter came at Rs 25.11 crore, commanding a market capitalisation (m-cap) of Rs 22,451.12 crore.
The scrip traded lower than the 5-day, 10-, 20-, 30-, 50-, 100-day and 150-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 41.69. A level below 30 is defined as oversold while a value above 70 is considered overbought.
Founded in 2017, Ola Electric primarily manufactures EVs and certain core components such as battery packs, motors and vehicle frames at the Ola Futurefactory. As of December 2024, promoters held a 36.78 per cent stake in the E2W player.
Ola Electric Mobility Ltd clarified on Tuesday that its February 2025 sales represented genuine customer demand and not token bookings.
"Our February 2025 sales announcement was based on paid and confirmed orders, not preliminary 'bookings'. In February, we disclosed our sales data based on these paid orders as our routine registration process — reflected on the VAHAN portal — was disrupted due to a transition of the process in-house as part of an efficiency initiative. Since then, we have faced consistent negative commentaries from some quarters," the pure-play electric vehicle (EV) firm stated.
"To be clear, the sales figures for February 2025 represent genuine customer demand backed by financial commitment, not token-amount bookings. Nearly 90 per cent of these orders were paid in full at the time of placement. This includes customer orders for our new products, Gen 3 and Roadster X, which have been available for full purchase (not just pre-booking) during February 2025," the Bhavish Aggarwal-led company also said.
"It is essential to underscore that vehicle deliveries are sequenced to follow confirmed orders with full payment — a standard and universally accepted industry practice. Any attempt to conflate bookings with full payment orders, or to suggest that deliveries must precede or immediately follow orders, misrepresents how the automotive industry functions. It is also important to note that the company recognises revenue only upon completion of the registration and delivery of the vehicles," the EV firm further stated.
Separately, the company informed bourses that it has nearly cleared the February backlog and expects to complete the remaining February-March registrations in April 2025. It registered sales of 23,430 units in March 2025.
To recall, brokerage Nomura last month mentioned that Ola Electric sold 8,600 units in February, citing Vahan data, with market share dropping significantly to 11.4 per cent against 25 per cent in January 2025. However, the domestic EV firm maintained that it sold 25,000 units in February, maintaining a market share of 28 per cent during the month.
On the stock-specific front, Ola Electric edged up 0.14 per cent to close at Rs 50.90. At this price, the stock has crashed 40.97 per cent on a year-to-date (YTD) basis. It saw heavy trading volume on BSE as around 49.07 lakh shares changed hands. The figure was higher than the two-week average volume of 39.86 lakh shares. Turnover on the counter came at Rs 25.11 crore, commanding a market capitalisation (m-cap) of Rs 22,451.12 crore.
The scrip traded lower than the 5-day, 10-, 20-, 30-, 50-, 100-day and 150-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 41.69. A level below 30 is defined as oversold while a value above 70 is considered overbought.
Founded in 2017, Ola Electric primarily manufactures EVs and certain core components such as battery packs, motors and vehicle frames at the Ola Futurefactory. As of December 2024, promoters held a 36.78 per cent stake in the E2W player.