# Ola Electric Q1: Brokerages flag weak volumes, cash burn

2026-08-10T04:02:58+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 1 independent outlet

Ola Electric’s June quarter results drew a mixed response from brokerages, with most retaining cautious or sell ratings. Goldman Sachs maintained 'Neutral' with a target of Rs 40, while Kotak and Citi kept 'Sell' at targets of Rs 20 and Rs 26 respectively, citing weak volumes, lower average selling prices and continued cash burn. Emkay Global also retained 'Sell' at Rs 30, flagging rising competition from TVS, Bajaj and Ather. The company’s net loss narrowed 22% year-on-year to Rs 336 crore, but revenue fell 45% to Rs 455 crore. Deliveries doubled sequentially to 39,192 units, though still far below the 68,192 units a year ago. Market share recovered to 8.3% from 5% in Q4, but slipped to around 6.5% in July, brokerages noted. Free cash flow remained negative at Rs 351 crore.

## Coverage

- ndtvprofit.com <https://www.ndtvprofit.com/markets/ola-electric-q1-review-brokerages-flag-weak-volumes-cash-burn-check-target-price-11887914#publisher=newsstand>
- businesstoday.in <https://www.businesstoday.in/markets/stocks/story/ola-share-price-targets-buy-after-q1-results-goldman-sachs-emkay-share-views-548209-2026-08-10?utm_source=rssfeed>
- inc42.com <https://inc42.com/features/ola-electrics-comeback-quarter-comes-with-a-caveat/>
- thehindubusinessline.com <https://www.thehindubusinessline.com/markets/ola-electric-shares-fall-54-after-q1-brokerages-split-between-neutral-and-sell-calls/article71327038.ece>

Tags: brokerage ratings, cash burn, EV two-wheelers, market share, Ola Electric, Q1 results
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