Ola Electric Admits Possible Errors In Sales Data Tracking Amid SEBI Scrutiny

Ola Electric Mobility has acknowledged that limitations in its internal data tracking systems could lead to inaccuracies in publicly reported operational figures, including vehicle sales, order fulfilment and after-sales services.

According to a report by Moneycontrol, the disclosure appears in the company's Oct 7, 2026, Letter of Offer for its proposed ₹1,000 crore rights issue.

It follows regulatory scrutiny over discrepancies between Ola Electric's reported February 2025 vehicle numbers and registration data available on the government's VAHAN portal.

In February 2025, Ola Electric announced that it had sold more than 25,000 electric vehicles during the month.

The company subsequently clarified that the figure represented customer order bookings rather than recorded sales.

Questions emerged after differences were identified between the company's disclosures and vehicle registrations reflected on VAHAN.

In March 2025, the National Stock Exchange of India (NSE) sought explanations regarding the discrepancy.

Ola Electric responded by distinguishing bookings from sales and stating that revenue was recognised according to its accounting policy.

The Securities and Exchange Board of India (SEBI) subsequently requested further clarifications in April and May 2025.

Its queries covered sales and delivery figures, customer advances, registration differences, order cancellations and revenue recognition practices.

The company said it provided reconciliations, explanations of month-end estimates and details concerning individual orders.

Ola Electric warns of technical errors

In its latest disclosure, Ola Electric said operational metrics are generated through internal tools and methodologies that are not independently verified by external parties.

The company acknowledged that algorithmic or technical errors could cause reported performance to be overstated or understated.

It also cautioned that changes in measurement methods could result in unexpected variations in disclosed figures.

According to Ola Electric, its operational data may differ from third-party estimates because of variations in information sources, assumptions and calculation methods.

The electric two-wheeler manufacturer said accurately measuring activity across a large customer base presents inherent challenges.

Such limitations could affect the company's assessment of business performance and the reliability of certain operational indicators.

The disclosure highlights potential reporting risks as Ola Electric seeks to raise fresh capital through its rights issue.