Ola Electric’s latest filing shows it is under a SEBI show‑cause notice for February 2025 sales data.
The company claimed it shipped 25,000 scooters that month, but the figure actually represents booked orders, not confirmed deliveries.
SEBI has asked for reconciliations between sales, delivery, and VAHAN registration numbers, raising questions about how the company records revenue.
The scrutiny follows a National Stock Exchange query that pointed out a mismatch between Ola’s disclosure and government registrations.
In FY26, Ola registered 164,294 electric two‑wheelers – a 52% drop from the previous year – with market share slipping to roughly 12% from the 30% it held in FY25.
Competitors like Ather and Bajaj have seen steady growth, suggesting that any perceived data inaccuracies could erode buyer trust and impact resale value.
Ola filed a settlement application on June 8, and the case remains unresolved, meaning investors and buyers will watch for a possible adjustment to the company’s reported figures.
Buyers should keep an eye on how the regulatory outcome affects future sales claims and whether it prompts a shift in pricing or after‑sales support.