Ola Electric shares skid 9% in three days; two suppliers file insolvency petitions against subsidiary before NCLT

Shares of Ola Electric Mobility extended their losing streak for a third consecutive session on Tuesday, losing nearly 9% in three days, amid reports that two suppliers had filed insolvency petitions against the company's wholly owned subsidiary over alleged unpaid dues.

On Tuesday, Ola Electric shares fell as much as 2.35% to ₹41.39 on the BSE. The stock had declined 4.68% on Monday after losing 2.2% on Friday.

At the time of writing, shares were trading marginally higher at ₹42.43, with a market capitalisation of around ₹19,638 crore.

Last week, the Bhavish Aggarwal-led Ola stock had rallied more than 11% in three sessions as investor sentiment improved after the Delhi government approved a new electric vehicle (EV) policy aimed at accelerating the transition from internal combustion engine (ICE) vehicles to electric mobility.

On a year-to-date basis, Ola Electric shares have gained more than 13%, while it has lost over 4% in the past one month. Over the last 12 months, the stock has risen more than 2%. It touched a 52-week high of ₹71.24 on September 4, 2025, and a 52-week low of ₹21.21 on March 2, 2026.

What triggered the sell-off?

Investor sentiment weakened after two operational creditors - Sterling E-Mobility Solutions, the electric vehicle components arm of Sterling Tools, and Anevolve Mando eMobility, a part of the Anand Group - filed insolvency petitions before the Bengaluru bench of the National Company Law Tribunal (NCLT).

The companies have sought the initiation of the Corporate Insolvency Resolution Process (CIRP) against Ola Electric Technologies Pvt. Ltd., Ola Electric's wholly owned subsidiary, under Section 9 of the Insolvency and Bankruptcy Code (IBC). They have alleged unpaid dues amounting to around ₹40.6 crore.

The latest legal action adds to a series of disputes between Ola Electric and its vendors. In March last year, Rosmerta Digital Services had also approached the NCLT, alleging payment defaults by Ola Electric Technologies. That matter was later settled, following which the insolvency petition was withdrawn.

The legal developments come at a time when the electric two-wheeler maker is grappling with weak demand and pressure on its financial performance.

For the quarter ended March 2026, Ola Electric reported a consolidated net loss of ₹500 crore, an improvement from a loss of ₹870 crore in the corresponding quarter last year, aided by cost rationalisation and lower operating expenses.

However, revenue from operations declined 56.6% year-on-year to ₹265 crore from ₹611 crore, reflecting weaker vehicle dispatches and subdued demand in the electric scooter market.

For the full year FY26, revenue from operations fell 50.1% to ₹2,253 crore from ₹4,514 crore in FY25. The company's annual net loss narrowed to ₹1,833 crore from ₹2,276 crore, while total expenses declined significantly to ₹3,245 crore from ₹6,253 crore.

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