Ola Electric Share Price Rises 2% After March 2025 Business Update and Registration Backlog Progress

Market Performance

Shares of Ola Electric increased by 2% on April 1, 2025, following the company's update on March 2025 sales figures and efforts to clear a registration backlog. Despite this uptick, the stock remains significantly lower than its peak value, trading 66% below its highest point.

Main News

Ola Electric's stock price rose nearly 2% after the company released its March sales data and provided updates on the status of its registration backlog. According to an exchange filing, the company registered 23,430 units in March 2025, as recorded on the VAHAN portal, indicating solid demand across both urban and rural areas.

However, this registration figure is lower than the 25,000 units reported in February 2025 and well below the company's internal target of 50,000 units, which CEO Bhavish Aggarwal previously outlined as necessary to break even at the EBITDA level.

Additionally, the company disclosed 344,005 units registered for FY25, holding a market share of 30% in the electric two-wheeler industry, thus maintaining its leadership position.

Company Details

Ola Electric's Registration Backlog

A key point contributing to the positive sentiment around the company's stock is the progress in clearing its registration backlog. The company attributed earlier disruptions to the shift to in-house vehicle registrations in February 2025. Although this transition led to temporary delays, Ola reported that the backlog clearance is improving, with daily registration volumes steadily increasing.

In its filing, the company confirmed that it has nearly resolved the February backlog and expects to complete the remaining registrations from February and March in April 2025. Ola is also working to enhance its registration operations and actively communicates with external stakeholders to expedite the process.

Gen 3 Portfolio Deliveries

Ola Electric also began delivering its Gen 3 vehicle lineup in March 2025, with customer demand surpassing expectations. The company ramped up production of this new portfolio in March and plans to continue increasing output in April to accelerate deliveries and improve the customer experience.

Summary of the Article

Following the business update for March 2025, Ola Electric saw a 2% increase in its share price. The company reported a strong performance in unit registrations for March, though it fell short of its targets for the month. Despite delays due to the shift to in-house registrations, progress is being made in clearing the backlog, and the company has started delivering its new Gen 3 vehicles. Even with the recent gains, the stock remains far below its record high, reflecting the broader market sentiment around the company.