Ola Electric shares rise 5.3% after PLI certification for Gen 3 scooters, strengthening margins and boosting profitability. August gains mark the stock’s strongest monthly rally since listing, supported by new product launches and growth plans in India’s EV market.
Ola Electric Mobility, one of the top manufacturers of electric two-wheelers in India, witnessed a rise in its shares by 5.3% to ₹51.15 on Tuesday after being given the Production Linked Incentive (PLI) certificate for its Gen 3 scooter range. The certificate enables the company to receive incentives starting from 13% up to 18% of the defined sales value (DSV) till 2028, thereby facilitating the improvement of the company’s cost structure and profit margins.
Ola S1 Gen 3 PLI certification constitutes seven models that cover the majority of the company’s current sales of Gen 3 scooters. Following the PLI certification for the Gen 2 scooters, the company is set to make earnings from the second quarter of the fiscal year 2026 onwards.
At Sankalp Festival, Ola Electric launched the S1 Pro Sport (5.2 kWh and 4 kWh variants), the S1 Pro+ (5.2 kWh), and the Roadster X+ (9.1 kWh) powered by the 4680 Bharat Cell. The S1 Pro Sport will be available for delivery starting January 2026 whereas Navratri will see the gate-off of the S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh.
Also Read: India’s EV Giants Signal a New Era of Stock Market Growth
The stock of Ola Electric has been on a strong comeback since the beginning of August, as it has appreciated by 23% so far this month. Should the rally last until the end of August, it will be the company’s most significant monthly increase since its listing in August 2024. Despite the uptrend, the stock is still trading at a discount of 33% from the IPO price of ₹76 and 62% from the all-time high of ₹157.
Ola Electric reported a decrease in the consolidated net loss of ₹428 crore for Q1 FY26 as compared to a loss of ₹870 crore in Q4 FY25. However, the revenue is reported to have dropped to ₹828 crore, down 49.6% YoY from ₹1,644 crore.
Bhavish Aggarwal, founder and chairman, reaffirmed the company’s ambition to penetrate the Indian two-wheeler EV market by 25–30% with the backing of vertical integration and new product launches, thus clearly indicating the company’s route towards profitability.
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