Ola Electric gains 5% on PLI certification; Q2 profitability boost expected

Ola Electric shares rose 5 per cent on Tuesday, logging an intra-day high at ₹51.1 per share on BSE, after the company secured Production Linked Incentive (PLI) certification for its Gen 3 Scooter

Ola Electric shares rose 5 per cent on Tuesday, logging an intra-day high at ₹51.1 per share on BSE. At 10:37 AM, Ola Electric's share price was trading 3.48 per cent higher at ₹50.28 per share. 

 

In comparison, the BSE Sensex was down 0.76 per cent at 81,012.07. The market capitalisation of the company stood at ₹22,190.89 crore. The 52-week high of the stock was at ₹133.02 per share, and the 52-week low was at ₹39.58.  CATCH STOCK MARKET LIVE UPDATES TODAY

Why were Ola Electric shares buzzing in trade? 

The buying on the counter came after the company secured Production Linked Incentive (PLI) certification for its Gen 3 Scooter Portfolio. 

 

 

“This certification was granted by the Automotive Research Association of India (ARAI) under the aegis of the Ministry of Heavy Industries, Government of India to all of seven Ola S1 Gen 3 scooters,” the filing read. 

 

Ola Electric’s Gen 2 and Gen 3 scooter portfolio now stands PLI-certified. The Gen 3 portfolio, comprising of S1 Pro 3 kWh, S1 Pro 4 kWh, S1 Pro+ 4 kWh, S1 X 2 kWh, S1 X 3 kWh, S1 X 4 kWh, and S1 X+ 4 kWh, represents the majority of the company’s current sales. As a result, this certification is set to significantly enhance Ola Electric’s profitability from Q2 FY26 onwards.

 

“Securing PLI certification for our Gen 3 scooters, which form the bulk of our sales, is a critical step towards profitability. This will directly strengthen our cost structure and margins, enabling us to deliver sustainable growth. With our auto business targeted to turn Earnings before interest, tax, depreciation and amortisaton (Ebitda) positive, the certification acts as a strong catalyst to achieve that goal while ensuring our customers continue to get the best-in-class EVs at highly competitive prices,” said a spokesperson, Ola Electric Mobility. 

 

The PLI certification makes Ola Electric eligible for incentives ranging from 13 per cent to 18 per cent of the determined sales value (DSV) until 2028, according to the filing. 

 

During its annual ‘Sankalp’ event, the company also announced S1 Pro Sport with 5.2 kWh and 4 kWh, S1 Pro+ 5.2 kWh, and Roadster X+ 9.1 kWh powered by the 4680 Bharat Cell, starting at an introductory price of ₹1,49,999, ₹1,69,999 and ₹1,89,999, respectively. S1 Pro Sport deliveries are set to commence in January 2026, while deliveries of S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh start this Navratri.