Ola Electric Mobility: SEBI looking into accuracy of sales data disclosures, says report

Ola Electric Mobility Ltd on Tuesday traded flat on stock exchanges amid a media report suggesting the market regulator SEBI was looking into the accuracy of disclosures made by the pure-play EV company regarding February sales data. 

To recall, Ola Electric was in news earlier after VAHAN portal data showed the auto EV major sold 8,600 units in February, with market share dropping significantly to 11.4 per cent from 25 per cent in January 2025. But Ola Electric in stock exchange filings suggested it sold 25,000 units in February with market share of 28 per cent.

Following this, the company received emails from the Ministry of Heavy Industries and Ministry of Road Transport and Highways of India (MORTH), seeking reasons for why there was a large gap in vehicle registration in February as per VAHAN portal and sales as per the company’s regulatory filing for February. 

Ola Electric also received notices in four states with regard to trade certificates for few of its stores and the company earlier suggested it was in the process of responding to the same.

On Tuesday, Ola Electric shares stood at Rs 49.53 on BSE, down 0.08 per cent. The stock has lost 42 per cent of its market value in 2025 so far.

 

Ola Electric in later press releases suggested that its sales were strong and that the temporary 'backlog' in February was due to its negotiations with vendors responsible for vehicle registrations. In a statement, it said the sales figures for February 2025 represented 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, it said adding that "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."

Ola Electric noted 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 recognizes revenue only upon completion of the registration and delivery of the vehicles," Ola Electric said earlier.