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Ola Electric shares hit all-time low after 72% slide from peak; Q4 losses, weak outlook weigh on sentiment

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Ola Electric shares plunged to a record low of Rs 43.16 on the NSE on Tuesday, marking a sharp 72% fall from their all-time high of Rs 157.40 on August 20, 2024 — just six days after the company debuted at Rs 75 per share. The stock has seen a consistent decline.According to exchange data, 0.8% of the company’s equity changed hands in multiple block deals during the session. Earlier in June, a block deal worth Rs 731 crore saw 14.22 crore shares, or 3.23% of Ola Electric’s equity, traded at an average price of Rs 51.40 per share. Hyundai Motor Company was reported to have been the seller in that transaction, according to an ET report.The stock has been under sustained pressure following Q4 earnings report. Ola Electric reported a net loss of Rs 870 crore in the March quarter of FY25, more than double the Rs 416 crore loss in the same period last year. Revenue from operations fell sharply by 62% year-on-year to Rs 611 crore, as vehicle deliveries declined to 51,375 units from 1.15 lakh units in Q4 FY24.Auto EBITDA margin deteriorated to -78.6% from -9.3% a year ago, while consolidated EBITDA margin slumped to -101.4%, impacted by higher provisioning and weak operating leverage. However, gross margin improved slightly to 19.2%, aided by better monetisation and a higher share of Gen-3 vehicles, which offer 20% more power and 11% lower costs than Gen-2 models.For the full fiscal year FY25, the company delivered 3.59 lakh vehicles, up from 3.29 lakh units in FY24. Adjusted revenue for the year stood at Rs 4,665 crore, and the consolidated EBITDA margin was -34.6%.Technical indicators remain weak. Ola Electric shares are trading below all major exponential moving averages and are nearing an RSI of 30 — a threshold typically considered oversold, according to Trendlyne data, as reported ET.The consensus analyst recommendation on Trendlyne is ‘Hold’, based on inputs from seven analysts: two ‘Strong Sell’, one ‘Sell’, two ‘Hold’, one ‘Buy’, and one ‘Strong Buy’. The average 12-month price target is Rs 59, implying a potential upside of around 35% from Tuesday’s closing price of Rs 43.23.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)

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