Ola Electric stock crashes to 52‑week low after Emkay's target cut, weak earnings and bearish outlook

Ola Electric’s share price slumped 6.7 per cent on Monday, hitting a fresh 52‑week low of Rs 28.81 as disappointing quarterly earnings and a negative brokerage note weighed heavily on investor sentiment.

The company reported a steep 55 per cent year‑on‑year drop in revenue, prompting Emkay Global to downgrade the stock to 'Sell' from 'Buy' and slash its target price to Rs 20. The sharp correction has intensified concerns about the company’s financial stability, with brokerage warning that its current trajectory raises questions over long‑term survival.

The ride‑hailing company posted a net loss of Rs 487 crore, an improvement from Rs 564 crore a year ago, however, revenue fell 55 per cent year‑on‑year to Rs 470 crore. EBITDA loss also narrowed to Rs 271 crore from Rs 460 crore in the same quarter last year, reflecting tighter cost controls despite a significant decline in operating income.

OLA Electric Q3FY26 Highlights (Cons YoY)

The company, in its third-quarter results exchange filing, said, "We acknowledge that service execution gaps impacted brand trust for prospective customers. These were service infrastructure and execution issues, not product quality issues. Customer trust and preference for our product remains strong, as indicated by an independent third-party survey showing 90 per cent overall product satisfaction and high repurchase intent."

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