Ola Electric Mobility Limited has announced the submission of its audited consolidated financial statements for the financial year ended March 31, 2026. The company’s Board of Directors approved these statements on May 20, 2026. The filing includes the consolidated balance sheet, profit and loss statement, changes in equity, and cash flow statement, along with accompanying notes and the auditor’s report. These statements will be presented for adoption at the upcoming Annual General Meeting.
Key Financial Disclosure
Ola Electric Mobility Limited has officially submitted its audited consolidated financial statements for the fiscal year concluding on March 31, 2026. This significant corporate announcement was made on June 1, 2026, and was formally approved by the company’s Board of Directors during a meeting held on May 20, 2026.
Statements Submitted
The submitted documents include comprehensive financial reporting, encompassing the consolidated balance sheet, consolidated statement of profit and loss (including other comprehensive income), consolidated statement of changes in equity, and the consolidated statement of cash flows for the year ended March 31, 2026. These statements have been prepared in accordance with the applicable provisions of the Companies Act, 2013, and relevant accounting standards. The auditor’s report, which provides an independent opinion on these financials, is also included.
Shareholder Adoption Pending
The company has noted that the adoption of these audited consolidated financial statements, along with their accompanying notes and the auditor’s report, is subject to the approval of the shareholders. This approval will be sought at the forthcoming Annual General Meeting. The intimation regarding this filing will also be made available on the company’s official website, www.olaelectric.com.
Auditor’s Key Findings
The independent auditor’s report highlights several key audit matters. These include the appropriateness of the management’s use of the going concern basis of accounting, the provision for warranty, and the impairment assessment of intangible assets. Revenue recognition and the existence of inventory at plant and stores were also identified as critical areas. A material weakness in internal financial controls was noted concerning the physical verification of inventory at one wholly-owned subsidiary.
Financial Performance Overview
The consolidated financial statements reveal a loss for the year ended March 31, 2026, amounting to INR 1,833 crores. This compares to a loss of INR 2,276 crores in the previous year. Revenue from operations for the year ended March 31, 2026, stood at INR 2,253 crores, a decrease from INR 4,514 crores in the prior year. Total assets for the year ended March 31, 2026, were INR 7,788 crores, down from INR 11,075 crores as of March 31, 2025.
Key Balance Sheet Items
As of March 31, 2026, non-current assets were INR 4,537 crores, while current assets totaled INR 3,251 crores. Total equity stood at INR 3,351 crores. Non-current liabilities amounted to INR 1,588 crores, and current liabilities were INR 2,849 crores.
Shareholder Information
The company’s equity share capital remained stable at INR 4,411 crores. Compulsorily convertible preference shares, previously standing at INR 2,973 crores, were fully converted into equity shares during the year. Earnings per share for the year ended March 31, 2026, showed a basic and diluted loss of (INR 4.16) per share, an improvement from (INR 5.48) in the previous year.
Source: BSE
