Ola Electric Achieves First-Ever Profit in Q2 FY26; Launches 'Ola Shakti' Home Battery

Ola Electric has announced a major financial turning point in its Q2 FY26 results, reporting its first-ever profitable quarter for its auto business. The company's strong performance was bolstered by expanding margins, new product launches, and the commissioning of its Gigafactory.

A New Era: Profitability and Margin Expansion

The most significant news from the quarter is the auto division's positive EBITDA of 0.3%, a substantial turnaround from -5.3% in the previous quarter.

This was driven by a powerful gross margin expansion to 30.7%, which Ola notes is higher than most traditional ICE two-wheeler companies. This profitability was achieved with minimal (2.0%) contribution from PLI schemes, showcasing strong core business health.

The company's auto business is now also cash-generative, with an adjusted cash flow from operations of ₹15 crore.

Ola's New Power Play: 'Ola Shakti' & Gigafactory

Ola Electric is officially expanding beyond vehicles with two major strategic launches:

• Ola Shakti (BESS) :

The company launched Ola Shakti, India's first residential Battery Energy Storage System (BESS) built with its in-house 4680 Bharat Cells. Designed for home backup and solar integration, Ola has massive expectations for this new vertical, projecting ₹1,000-₹1,200 crore in annual revenue in FY27.

• Gigafactory Commissioned :

The Ola Gigafactory is now operational with an initial 2.5 GWh capacity, making it India's first Giga-scale cell facility. The company plans to migrate all its automotive products to its in-house cells within the next 6-9 months.

Sales & Service: Roadster Surges, HyperService Launches

On the vehicle front, the Ola Roadster motorcycle gained significant traction.

• Sales grew 4x compared to Q1.

• It now represents about 15% of Ola's overall sales.

To improve customer experience, Ola has also launched HyperService. This new initiative will provide genuine Ola parts to third-party garages and independent mechanics, opening up a new high-margin revenue stream from parts sales.

Key Technological & Future Outlook

• New Motor Tech : Ola certified India's first ferrite motor in October 2025, a move that eliminates dependency on imported rare-earth materials and lowers costs.

Future Guidance : The company is focusing on margin discipline in H2 FY26. It forecasts a full-year consolidated revenue of ₹3,000-₹3,200 crore, with the auto segment expected to exit Q4 with a gross margin of around 40%.