Ola Electric shares crash 7% to record low after weak Q3; analysts advise caution
The company reported a narrower net loss of Rs 490 crore in Q3 FY26, compared with a loss of Rs 560 crore in the preceding quarter. However, revenue from operations dropped sharply by 55 per cent year-on-year (YoY) to Rs 470 crore from Rs 1,045 crore in the same period last year.
- Feb 16, 2026,
- Updated Feb 16, 2026 4:31 PM IST
Shares of Ola Electric Mobility Ltd plunged 7.02 per cent on Monday to hit a fresh all-time low of Rs 28.73 after the pure-play EV maker reported a weak performance for the third quarter of FY26. The stock eventually settled 6.70 per cent lower at Rs 28.83. At the current level, the scrip has declined 52.99 per cent over the past one year.
The company reported a narrower net loss of Rs 490 crore in Q3 FY26, compared with a loss of Rs 560 crore in the preceding quarter. However, revenue from operations dropped sharply by 55 per cent year-on-year (YoY) to Rs 470 crore from Rs 1,045 crore in the same period last year.
Ola Electric's earnings before interest, tax, depreciation and amortisation (EBITDA) loss stood at Rs 271 crore. On a YoY basis, the EBITDA loss narrowed.
Some market experts were unimpressed with Ola Electric's Q3 numbers.
Avinash Gorakshakar termed the quarterly performance disappointing. "The numbers have been extremely disappointing. I think the markets were expecting some sort of turnaround after the positive management commentary post-Q2 numbers, but the numbers have not been coming. I think the biggest problem for Ola is that they don't have large cash reserves. The company continues to be loss-making. If volumes don't grow, it's going to be a very big negative surprise for the company," he told Business Today.
Kranthi Bathini, Equity Strategist at WealthMills Securities, noted that the stock is in a downtrend as the company's Q3 numbers came in weak. "Sales numbers are not growing and key revenue parameters are not improving. One can avoid this stock in the medium- to short-term," he added.
From a technical standpoint, support on the counter could be seen in the Rs 28–25 range.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "Ola Electric has experienced a significant decline, reaching an all-time low amid persistent selling pressure. The technical indicators are consistent with this price movement, implying potential further decline to the range of Rs 26-25 in the forthcoming period. Conversely, multiple resistance levels are identified within the range of Rs 35-38 from a short-term perspective."
Drumil Vithlani, Technical Analyst at Bonanza, said, "Ola Electric is in a strong primary downtrend, consistently trading below long-term averages. The stock is struggling to hold key support levels, reflecting weak buyer interest. Unless a decisive breakout occurs with volume, the stock may continue to underperform, and any short-term bounce is likely to remain corrective. Support will be at Rs 28, while resistance will be at Rs 34–36. View remains weak until the stock stays below Rs 36."
According to AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, "Ola Electric's stock is bearish on daily charts with strong resistance at Rs 33.55. It may slip towards Rs 27.8 in the near term."
Shares of Ola Electric Mobility Ltd plunged 7.02 per cent on Monday to hit a fresh all-time low of Rs 28.73 after the pure-play EV maker reported a weak performance for the third quarter of FY26. The stock eventually settled 6.70 per cent lower at Rs 28.83. At the current level, the scrip has declined 52.99 per cent over the past one year.
The company reported a narrower net loss of Rs 490 crore in Q3 FY26, compared with a loss of Rs 560 crore in the preceding quarter. However, revenue from operations dropped sharply by 55 per cent year-on-year (YoY) to Rs 470 crore from Rs 1,045 crore in the same period last year.
Ola Electric's earnings before interest, tax, depreciation and amortisation (EBITDA) loss stood at Rs 271 crore. On a YoY basis, the EBITDA loss narrowed.
Some market experts were unimpressed with Ola Electric's Q3 numbers.
Avinash Gorakshakar termed the quarterly performance disappointing. "The numbers have been extremely disappointing. I think the markets were expecting some sort of turnaround after the positive management commentary post-Q2 numbers, but the numbers have not been coming. I think the biggest problem for Ola is that they don't have large cash reserves. The company continues to be loss-making. If volumes don't grow, it's going to be a very big negative surprise for the company," he told Business Today.
Kranthi Bathini, Equity Strategist at WealthMills Securities, noted that the stock is in a downtrend as the company's Q3 numbers came in weak. "Sales numbers are not growing and key revenue parameters are not improving. One can avoid this stock in the medium- to short-term," he added.
From a technical standpoint, support on the counter could be seen in the Rs 28–25 range.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "Ola Electric has experienced a significant decline, reaching an all-time low amid persistent selling pressure. The technical indicators are consistent with this price movement, implying potential further decline to the range of Rs 26-25 in the forthcoming period. Conversely, multiple resistance levels are identified within the range of Rs 35-38 from a short-term perspective."
Drumil Vithlani, Technical Analyst at Bonanza, said, "Ola Electric is in a strong primary downtrend, consistently trading below long-term averages. The stock is struggling to hold key support levels, reflecting weak buyer interest. Unless a decisive breakout occurs with volume, the stock may continue to underperform, and any short-term bounce is likely to remain corrective. Support will be at Rs 28, while resistance will be at Rs 34–36. View remains weak until the stock stays below Rs 36."
According to AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, "Ola Electric's stock is bearish on daily charts with strong resistance at Rs 33.55. It may slip towards Rs 27.8 in the near term."