Ola Electric Share Price Gains Over 2 Per Cent, After Company Shares Backlog Clearance Update

After the Company’s March 2025 business update, Ola Electric’s share price reached an intraday high, up 2.6 per cent at Rs 54.39 on April 1, during the early trade.

Ola Electric Share Price Movement

The company’s share is still trading around 66 per cent down from its 52-week high of Rs 157.53. Meanwhile, Ola Electric's share price is also trading 28 per cent below its listing price of Rs 76. In 2025 alone, the Ola Electric shares have tumbled around 37.99 per cent.

At the time of writing Ola Electric's share price traded in the red, down 0.06 per cent at Rs 52.94 on the BSE.

However, as per the data released, the 25,000 units registered in February 2025 and drastically lower than the 50,000 units per month target for the EV company.

Earlier in 2024, the company’s founder and CEO, Bhavish Aggarwal, said that if the company achieves its 50,000 units per month target, it is poised to achieve Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) breakeven.

The company also notified exchanges that it had registered 3,44,005 units in FY25, recording a market share of 30 per cent and retaining its leadership position in the electric two-wheeler industry.

The company's EBITDA stood at a loss of Rs 460 crore for the quarter that ended on December 31, 2024, from a loss of Rs 301 crore in the same period in the previous year.

Ola’s Update On Backlog

The positive momentum in Ola Electric's share price could also be attributed to the promising update on the February backlog clearance. The company announced its move to in-house vehicle registration in February resulting in temporary disturbance. While the EV company is still going through the transition, their daily registration volumes and backlog clearance are improving, as per the exchange filing.

"We have nearly cleared the February backlog and expect to complete the remaining February–March registrations in April 2025. To support this, we’re scaling up our registration operations and actively coordinating with all external stakeholders," the company said.

Additionally, the company also started the deliveries of its Gen 3 vehicles in March 2025. The company said that it has received strong customer response, citing higher-than-estimated numbers.

"As a result, we ramped up the production of our Gen 3 portfolio in March and will continue ramping it up further in April for faster deliveries and better customer experience," Ola Electric said.