Ola Electric Stock Falls 1.69% Despite Company Issuing Clarification on Auditor’s Inventory Control Observation

Bengaluru, September 10, 2025: Ola Electric Mobility Limited’s share price is in the red today, September 10, 2025. As of 11:00 AM, the shares were down by 1.69%, or 1.01 points, and were trading at ₹58.25. Until now, the shares have traded within a range of ₹60.79 and ₹57.40. The current traded volume stands at 191.35 lakh shares, with a total traded value of ₹111.94 crore.

Ola Electric is a prominent Indian electric vehicle manufacturer that was established in 2017 by Bhavish Aggarwal. The company is headquartered in Bengaluru, Karnataka, India. The company’s shares are listed on NSE with the ticker symbol OLAELEC and on BSE with the code 544225.

Shares Are Falling Despite the Company’s Clarification

In a regulatory filing dated September 9, Ola Electric’s management responded to a news article that claimed its financial controls were under scrutiny. The company clarified that the auditor’s remark was regarding an isolated case. The case is about the company’s subsidiary Ola Electric Technologies Pvt Ltd, where the subsidiary failed to physically verify certain inventories due to an operational realignment under “Project Lakshya.”

Under its clarification, the company communicated:

• The auditors, M/s B S R & Co. LLP, issued a clean and unqualified opinion on its FY25 financial statements.
• The matter that was flagged was a single isolated transaction, which involved finished goods and raw materials. When validated through ERP records, no discrepancies were noticed.
• Every scooter manufactured by the company is traceable via unique Vehicle Identification Numbers (VIN). Furthermore, the sale of its scooters requires mandatory registration on the Vahan portal.
• The company has reaffirmed its commitment to strengthening internal financial controls through technology upgrades and systemic process changes.

No Undisclosed Information or Financial Impact

Ola Electric’s management commented that the company is not aware of any undisclosed information that could have resulted in the volatility witnessed recently by the company’s stock. It also confirmed that it has made all material disclosures as per SEBI’s Listing Regulations. The company also stressed that there is no financial impact from the auditor’s observation.

REF: https://nsearchives.nseindia.com/corporate/OLAELECTRIC_09092025115519_NSE_News_Clarification_Intimation_OEM.pdf

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