OLAELEC

Aug 4 (Reuters) - India's Ather Energy ATHR.NS reported a narrower first-quarter loss on Monday, helped by higher demand for its e-scooters, particularly the best-selling "Rizta".

The company, founded in 2013, said its loss narrowed to 1.78 billion rupees ($20.31 million) for the quarter ended June 30 from 1.83 billion rupees a year ago.

($1 = 87.6320 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Rewrites throughout, adds executive's comment in paragraph 2

By Nandan Mandayam

July 31 (Reuters) - India's Eicher Motors reported that a shortage of rare earth magnets disrupted its first-quarter production of performance motorcycles due to China's export ban on the key component, prompting the company to switch to alternative materials.

"We started working on the alternative material...at least about three or four months back. Now (the import of) that alternative material is not a major issue," Eicher's Managing Director B. Govindarajan told analysts in a post-earnings call.

The shortage of the critical component stalled production of Royal Enfield's Himalayan, Scram and Guerilla motorcycles, Govindarajan added.

Indian two-wheeler manufacturers, particularly e-scooter makers, are scouting substitutes to rare earth magnets, as China controls 90% of the global production.

Earlier in the day, India's top e-scooter maker TVS Motor TVSM.NS said it was looking for rare earth alternatives used for motors. Ola Electric, meanwhile, had said it has developed rare-earth-free motors, which are to be deployed from the December quarter.

China's curbs on rare-earth exports have disrupted the global auto industry, with companies warning of a severe supply crunch.

Eicher, whose Royal Enfield leads premium motorcycle sales in India, reported a profit that topped estimates on Thursday, helped by strong local and overseas demand.

The company clocked a profit of 12.05 billion rupees ($137.6 million) for the quarter ended June 30, compared with 11.01 billion rupees a year earlier, beating analysts' estimate of 11.17 billion rupees, according to data compiled by LSEG.

Its shares closed down 0.2% before the results were announced. They are up 13.4% so far in 2025.

($1 = 87.6040 Indian rupees)

(Reporting by Nandan Mandayam and Anuran Sadhu in Bengaluru; Editing by Mrigank Dhaniwala and Shilpi Majumdar)

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** Ola Electric Mobility OLAE.NS falls as much as 4.1% to 45.16 rupees

** Co forecast improved gross margins for FY26 after posting narrower sequential Q1 loss on Monday

** Ambit Capital says co expects margin gains from Q2 due to PLI approval, efficiency improvements

** Adds, "We find this ambitious due to delays in fully commercialising captive cell plant, pending PLI approval"

** Investec says while co's margins expected to rise, volume growth could moderate due to slowdown in EV industry, increased competition

** Notes delay in cell manufacturing ramp up may lead to exclusion from PLI

** Goldman Sachs recognises co's efforts to shift towards positive EBITDA, FCF breakeven, but believes market requires greater clarity on volume growth, market share execution

(Reporting by Meenakshi Maidas in Bengaluru)

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July 14 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• FOR SHORT TERM, HAVE REASONABLE INVENTORY LEVELS AND SOURCING RARE EARTH MAGNETS FROM TWO COUNTRIES OF ORIGIN

• EXPECT FY26 VOLUMES TO BE AROUND 325,000 - 375,000 VEHICLES

• ALREADY PRODUCTIONISED RARE EARTH FREE MOTORS WHICH WILL BE COMING INTO PRODUCTS STARTING NEXT QUARTER

• SEES FY26 REVENUE AROUND 42-47 BILLION RUPEES

• IN CELL BUSINESS, WILL BE COMPLETING 5GWH INSTALLATION THIS YEAR

• FOR Q2, EXPECT AUTO EBITDA TO TURN POSITIVE AND AUTO BUSINESS TO GENERATE OPERATING CASHFLOW LATER IN FY26

• GOAL IN THIS PHASE IS TO CONSOLIDATE OPERATIONS, IMPROVE MARGINS

Source text: ID:nNSE4FLpN4

Further company coverage: OLAE.NS

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July 8 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• ANNOUNCES MASS ROLL-OUT OF MOVEOS 5

Source text: ID:nBSE6JWjY0

Further company coverage: OLAE.NS

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** Shares of Ola Electric Mobility OLAE.NS fall 2.6% to 42.05 rupees

** More than 4.5 mln shares traded in 4 block deals on NSE at a discount of 0.2% to 2.6% to previous close

** OLAE's RSI falls to 25.9, suggesting stock might be oversold - LSEG

** OLAE down ~51% YTD

(Reporting by Vijay Malkar)

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** Ola Electric Mobility OLAE.NS falls 6.3% to record low of 43.16 rupees; set for ninth session of losses in 10 days

** More than 24.7 mln shares traded in seven large deals on NSE at 3.4%-5.6% discount to Friday's close, per data compiled by LSEG

** Traded shares represent 0.5% stake in OLAE

** Earlier this month, Hyundai Motor 005380.KS sold its entire 2.47% stake in OLAE; Kia 000270.KS trimmed its holding

** OLAE, grappling with slowing sales, regulatory pressure, competition from established two-wheeler makers, down ~53% since going public in August 2024

(Reporting by Vivek Kumar M)

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June 4 (Reuters) - Hyundai Motor 005380.KS sold its entire stake in Ola Electric OLAE.NS, while rival South Korean carmaker Kia 000270.KS trimmed its holding, in a combined share sale worth 6.89 billion rupees ($80 million), according to exchange data.

Hyundai, which held a 2.47% stake in the company, sold shares at a price of 50.70 rupees, while Kia offloaded 0.6% of Ola Electric shares for 50.55 rupees, the data showed on Tuesday.

Kia held a less than 1% stake in Ola Electric. Its current holding is not known as exchange data does not disclose stakes below 1%.

Ola Electric's shares slumped 8% on Tuesday as both disposals were at a nearly 6% discount to its closing price on Monday.

Hyundai and Kia had invested $300 million in the Bhavish Aggarwal-led Ola in 2019 to collaborate on developing electric vehicles and their charging infrastructure.

The disposals come at a time when the company is grappling with slowing sales, regulatory pressure and competition from established two-wheeler makers. Its shares have dropped 46% since going public in August 2024.

The Bengaluru-based company had reported a wider fourth-quarter loss and also forecast a revenue decline in the first quarter of the current fiscal amid steep discounts it has been offering to weather competition.

($1 = 85.8800 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)

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** Ola Electric Mobility OLAE.NS falls 6% to 50.47 rupees

** More than 148 mln shares traded in 14 block deals at 50-52 rupees, per LSEG-compiled data

** The deals were at a 3.1%-6.9% discount to last close

** Overall trading vols at 193.1 mln shares, more than 6x the 30-day avg

** OLAE down ~41% YTD

(Reporting by Vijay Malkar)

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May 30 - ** Electric scooters maker Ola Electric Mobility OLAE.NS down 6.2% to 49.85 rupees after Q4 results

** Ola forecast decline in current quarter revenue to 8.5 bln rupees ($99.25 million), compared to 16.44 bln rupees in Q1 FY25 amid falling sales and steep discounts

** Co's Q4 loss doubled to 8.7 bln rupees vs 4.16 bln rupees a year ago, also hit by a one-time warranty expense provision

** Vehicle registrations fall more than 52% y/y in Q4

** Co exploring a debt raise of up to 17 bln rupees to refinance existing debt obligations

** Says it is targeting profitability and gross margin improvement in current fiscal year

** Including session's decline, OLAE shares down ~41% YTD

(Reporting by Ananta Agarwal in Bengaluru)

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Rewrites paragraph 1, adds details from earnings call, presentation throughout

By Nandan Mandayam

May 12 (Reuters) - Indian e-scooter maker Ather Energy ATHR.NS, founded in 2013, reported a smaller full-year loss for the first time ever on Monday, as strong demand for its 'Rizta' scooter and lower unit costs boosted margins.

Ather started selling e-scooters in 2018, becoming a pioneer in the Indian market, but has since fallen behind Ola Electric OLAE.NS and legacy rivals, who are better funded and have a wider distribution network.

The company, which debuted on the stock market last week, has sought to close the gap with the launch of the more family-oriented 'Rizta' and by using its engineering heft to lower costs.

That helped its net loss narrow to 2.34 billion rupees (about $28 million) in the fourth quarter, from 2.83 billion rupees a year ago. Its full-year loss shrank to 8.12 billion rupees from 10.6 billion rupees.

"Our reduction of losses and improvement of margins have happened on the back of our focus on software and a strong R&D-led cost reduction," CEO Tarun Mehta said.

Mehta, who has referred to Ather's e-scooters as the "Apple of electric two-wheelers", said the company could achieve profitability "at a lower scale than some of our peers." He did not give details or a timeline.

Its closest rival, Ola Electric, is also posting losses, while legacy two-wheeler companies, including market leader and Ather's biggest shareholder Hero MotoCorp HROM.NS, do not give separate results for their electric vehicle sales.

Strong demand for the 'Rizta' helped Ather's fourth-quarter revenue increase 29%.

The company hopes the 'Rizta' and other launches will help it expand in north and west India, and is backing its R&D prowess to cut production costs.

This, said Mehta, has already helped Ather cut full-year unit costs by nearly 20%, leading to adjusted gross margin, including government subsidies, doubling to 19%.

Ather's earnings margin before interest, taxes, depreciation and amortisation (EBITDA) margin improved to negative 23% from about negative 36%.

($1 = 84.8270 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala, Varun H K and Savio D'Souza)

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May 5 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• CLARIFIES ON PERPETUAL LICENSE FOR 'OLA' MARK IN EV BUSINESS

• CO HOLDS LICENSE TO USE CERTAIN LICENSED IP, INCLUDING LOGO AND/OR WORD-MARK OF 'OLA'

• LICENSE VALID GLOBALLY FOR OLA ELECTRIC VEHICLE BUSINESS

Source text: ID:nBSEbQD2dr

Further company coverage: OLAE.NS

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May 2 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - STORY CO LIKELY IN SEBI CROSSHAIRS OVER ALLEGED INSIDER TRADING CONTAINS FACTUAL INACCURACIES

• OLA ELECTRIC - INDIVIDUAL MENTIONED IN MEDIA ARTICLES IS EMPLOYEE OF OLA ELECTRIC TECH, HOLDS ESOPS OF CO

• OLA ELECTRIC - TRADES REFERRED IN MEDIA REPORT WERE ROUTINE TRANSACTIONS

• OLA ELECTRIC MOBILITY LTD - TRADES WERE ROUTINE TRANSACTIONS INVOLVING ESOPS

Source text: [ID:]

Further company coverage: OLAE.NS

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April 25 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC MOBILITY LTD - UNAWARE OF NOTICE TO CLOSE 100 SHOWROOMS IN MAHARASHTRA

Source text: ID:nBSE6wRTMF

Further company coverage: OLAE.NS

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Updates with co's comment in bullet 4

** Ola Electric Mobility OLAE.NS falls 3.3% to 51.3 rupees; on track to snap a three-day winning streak

** Maharashtra government instructs regional transport offices to shut down co's outlets operating without a valid trade certificate, the Economic Times reports

** Separately, Mint reports officials planning to shut down 121 of its ~450 Maharashtra stores over missing sales permits

** OLAE spokesperson tells Reuters co has not received any notice from authorities

** OLAE loses 32% in 2025

(Reporting by Yagnoseni Das in Bengaluru)

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April 11 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• ROLLS OUT FIRST ROADSTER X MOTORCYCLE

• ROADSTER X SERIES PRICES START AT 84,999 RUPEES, UP TO 184,999 RUPEES

Source text: ID:nBSE57w37f

Further company coverage: OLAE.NS

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to remove second graphic.

By Ujjaini Dutta

BENGALURU, April 9 (Reuters Breakingviews) - Ola Electric Mobility OLAE.NS has taken a poor turn. Nearly eight months after it went public at a $4.8 billion market capitalisation, shares of the SoftBank-backed 9984.T Indian electric scooter maker have plunged one-third below its initial public offering price, massively underperforming the benchmark Nifty 50 Index .NSEI which has held pretty firm against a global selloff in recent days. It's the latest promising startup in the country to run out of juice.

Founded by Bhavish Aggarwal, Ola was a posterchild for electric vehicles in the South Asian country where two-wheelers dominate, but it has quickly lost its lead in the booming industry. Its market share of 50% at the beginning of 2024 collapsed to 19% in December; Bajaj and TVS are catching up fast, rolling out electric scooters alongside their gas-guzzlers.

Ola’s sales are sputtering too. It reported over 25,000 two-wheeler sales for February, up 2.5% on the previous month. However, it logged about one-third of that amount with transport authorities. The company blames the large discrepancy on "a temporary registration backlog". Either way, regulators are scrutinising the saga.

Overall, revenue in the December quarter slumped 19% year-on-year to 10.45 billion rupees ($121 million), while Ola's net loss widened to 5.64 billion rupees over the same period. It's a disappointing performance from a company that was a beneficiary of financial handouts from India's flagship manufacturing incentive scheme.

Ola is not alone. Analysts at Bernstein label the rest of India’s unlisted electric vehicle startups, including rival and IPO hopeful Ather Energy “uninvestable”. Traditional two-wheeler makers, it says, have better reach, servicing and safety perceptions despite producing “boring and uninspiring products”.

It serves as a warning against India's startups in general. Many of the promising ones have struggled to retain their shine, even before the U.S. trade war-induced selloff. One 97 Communications-owned Paytm PAYT.NS, India’s one-time fintech darling, and online beauty shop Nykaa NYKA.NS are trading 62% and 85% below their IPO price. Prosus-backed PRX.AS Swiggy SWIG.NS, one half of a food delivery duopoly, has sunk too.

The problems of Ola and its cohort will raise the bar for the 20 or so large startups in India's IPO pipeline. The planned debut of Walmart-backed WMT.N loss-making payments giant PhonePe, at a mooted $15 billion valuation, already looked hasty. The IPO window may not slam shut in India but startups will need large discounts if they want to squeeze through.

Follow @ujjainidutta_

CONTEXT NEWS

Ola Electric's shares have fallen one-third below its initial public offering price of 76 rupees in August 2024.

(Editing by Una Galani and Aditya Srivastav)

((For previous columns by the author, Reuters customers can click on DUTTA/[email protected]))

April 8 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• ISSUES CLARIFICATION ON FEBRUARY 2025 SALES FIGURES

• FEBRUARY SALES BASED ON PAID AND CONFIRMED ORDERS

• CO RECOGNIZES REVENUE ONLY UPON COMPLETION OF REGISTRATION AND DELIVERY OF VEHICLES

• DISCLOSED FEB SALES DATA BASED ON PAID ORDERS AS ROUTINE REGISTRATION PROCESS WAS DISRUPTED

Source text: ID:nBSE8Kfdft

Further company coverage: OLAE.NS

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** Shares of Ola Electric Mobility OLAE.NS down ~2% at 52.95 rupees, set for third day of declines

** Over 1 mln shares traded in two block deals at 53.41 rupees each, a 1.3% discount to last close --LSEG data

** Stock down ~38% YTD and ~30% since early-Aug listing

** Avg rating of seven analysts equivalent of "hold", median PT is 73 rupees --LSEG data

(Reporting by Ashish Chandra in Bengaluru)

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Adds details on dues owed to agency in paragraph 1, changes sourcing in paragraphs 1, 2, shares in parahraph 7

March 25 (Reuters) - A unit of Ola Electric OLAE.NS, an Indian electric scooter maker, has settled dues worth 267.5 million rupees ($3.1 million) with vehicle registration agency Rosmerta Group, the companies said on Tuesday.

Rosmerta will now withdraw a petition to take the unit insolvent, they said.

Earlier this month, Rosmerta Digital Services filed a petition against Ola Electric Technologies, alleging a default in payments.

Ola Electric had also said a mismatch between company-provided sales data and government registration data in February was due to negotiations with its vehicle registration vendors.

The company said the backlog that arose from the data mismatch has been cleared, but the government has sought information on the matter.

On Tuesday, its shares were trading flat in a volatile session.

Ola Electric's shares have recovered slightly from a record low since it informed investors of the insolvency petition, but are still down about 27% since listing last August.

($1 = 85.7250 Indian rupees)

(Reporting by Aleef Jahan and Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)

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March 21 (Reuters) - India's Ola Electric OLAE.NS said on Friday the mismatch between vehicle sales and registrations in February was due to a "temporary" backlog in registrations due to negotiations with its vendors.

A media report on Thursday said government agencies were probing the company for these discrepancies.

(Reporting by Aleef Jahan in Bengaluru; Editing by Varun H K)

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** Shares of Ola Electric Mobility OLAE.NS fall 2% to 53 rupees

** Co facing regulatory scrutiny, with heavy industries ministry probing details regarding discrepancies between its reported sales and actual vehicle registrations, broadcaster CNBC-TV18 reports

** Maharashtra's State Transport Authority inspected multiple Ola showrooms as part of the probe, report says

** OLAE did not immediately respond to a request for comment

** Ola Electric has faced multiple roadblocks in recent days, and had dropped to a record low on March 17 after it said one of its units faced an insolvency petition from a creditor

** Co previously received a letter from the federal government for missing a key milestone in the setup of its planned battery "gigafactory"

** OLAE has lost ~38% in 2025, and is down more than 66% from record high hit in August 2024

(Reporting by Yagnoseni Das in Bengaluru)

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** Indian shares retreat from session's highs due to looming tariff threats and caution ahead of the U.S. Federal Reserve meeting this week

** Nifty 50 .NSEI and Sensex .BSESN up 0.3% each in afternoon trade

** Both indexes rose as much as 0.8% earlier in the day

** U.S. reiterates plans to impose reciprocal tariffs on India and other countries on April 2

** Seven of 13 major sectors log gains on the day, while broader mid- .NIFMDCP100 and small-caps .NIFSMCP100 up about 0.5% each

** Heavyweight financials .NIFTYFIN up 1%, supporting gains in the benchmark indexes

** Nifty attempting a recovery in March after five consecutive monthly losses, says HDFC Securities; recommends "bearish" positional strategy

** Benchmark indexes down 14% from lifetimes highs hit in late-September

** Rebound in U.S. equities, China stimulus measures supporting global stocks on the day MKTS/GLOB

** Ola Electric Mobility OLAE.NS down 7% as unit faces insolvency petition from a creditor

(Reporting by Vivek Kumar M)

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Refiles to fix typographical error in last paragraph

March 12 (Reuters) - India's Ola Electric OLAE.NS has managed to save 900 million rupees ($10.3 million) a month from a cost-cutting programme it began in November, the electric scooter maker said on Wednesday.

Since making its splashy stock market debut last August, Ola Electric has been hit with a spate of blows ranging from falling sales to heightened regulatory scrutiny. It has cut jobs at least twice since November, according to media reports, and has been working on re-shaping its sales and service networks, reducing operating costs and bringing down inventory.

Ola Electric, in which the SoftBank Group 9984.T has a significant stake, reported a wider quarterly loss of 5.64 billion rupees in the October-December quarter as it offered heavy discounts to lure customers and spent money to improve the speed and quality of service at its workshops.

It said its average quarterly operating expenses should drop about 40% to 1.1 billion rupees in the first quarter as a result of the cost-cutting programme, compared to 1.78 billion rupees in the third quarter.

The Bengaluru-based company, which is trying to make its own EV battery as part of a government-subsidised manufacturing scheme, also expects the measures to also help it report a break-even EBITDA (earnings before interest, taxes, depreciation and amortisation).

Ola Electric's founder and chairman Bhavish Aggarwal said last month in an earnings call that his firm would need to sell about 50,000 units a month to reach the milestone.

The company sold 24,377 units in January and 8,646 units last month, according to government data. The sharp slide in February's sales was due to a renegotiation of its contracts with its vehicle registration agencies, the company said.

($1 = 87.2150 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)

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March 4 (Reuters) - Indian electric two-wheeler maker Ola Electric OLAE.NS received a letter from the federal government on Tuesday for missing a key milestone in the setup of its planned battery "gigafactory".

Ola was selected in 2022 for the government's production-linked incentive (PLI) scheme to establish a 20 gigawatts (GW) local battery manufacturing facility in the southern state of Tamil Nadu.

The 181-billion-rupee ($2.07 billion) scheme required companies to set up manufacturing facilities within two years. Ola Electric has previously said it would begin commercial operations at the manufacturing facility by April.

Its Tuesday statement said the company was actively engaged with relevant authorities, but did not offer details about the missed milestone or spell out what steps the government could take next.

Ola Electric has lost roughly 40% of its market value since going public last year, pressured by high costs, weak demand and deep discounts that have led to job cuts in its push for profitability.

Earlier in the day, Mukesh Ambani-led Reliance New Energy Solar Limited also received a similar letter from the federal government for missing its timeline to set up a manufacturing plant under the same scheme.

Reliance said its penalties stood at 31 million rupees ($355,293) as of March 3, and that it had asked the government for more time to set up its manufacturing plant.

It was not immediately clear how much Ola's potential penalties would be.

(Reporting by Indranil Sarkar in Bengaluru; Editing by Devika Syamnath)

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March 3 (Reuters) -

• OLA ELECTRIC MOBILITY IS LAYING OFF OVER A THOUSAND EMPLOYEES AND CONTRACT WORKERS- BLOOMBERG NEWS

Source text: https://tinyurl.com/28ox6qfd

Further company coverage: OLAE.NS

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Feb 28 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC MOBILITY LTD - OLA ELECTRIC SELLS 25,000 UNITS DURING FEBRUARY 2025

Source text: [ID:]

Further company coverage: OLAE.NS

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Feb 19 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• RENEGOTIATING TERMS OF AGREEMENT WITH OUR AGENCIES

• RENEGOTIATING AGREEMENTS TO REDUCE COSTS AND ENHANCE EFFICIENCIES

• FEB 2025 REGISTRATION NUMBERS TEMPORARILY IMPACTED DUE TO NEGOTIATIONS

• SALES REMAIN STRONG THROUGH FEBRUARY 2025 DESPITE REGISTRATION DIP

Source text: ID:nNSEccQpTs

Further company coverage: OLAE.NS

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By Vivek Kumar M and Bharath Rajeswaran

Feb 12 (Reuters) - MSCI added a lone Indian company, carmaker Hyundai Motor India HYUN.NS, to its Global Standard index late on Tuesday and removed Adani Green Energy ADNA.NS as part of its February 2025 index rejig.

The change will come into effect on the market's close on February 28.

In its previous index reconstitution in November, MSCI had added five domestic companies into the global standard index, lifting India's weightage to nearly 20% in the gauge that tracks emerging markets.

The quarterly rebalancing, which was announced overnight, also saw 20 Indian stocks added to MSCI India Domestic Smallcap Index, including Ola Electric Mobility OLAE.NS, Sundaram Clayton SUNM.NS and Zaggle Prepaid Ocean Services ZAGG.NS, among others.

However, 17 stocks were deleted from the MSCI Smallcap index.

According to IIFL Capital, the MSCI rejig could lead to a net passive inflow of about $850 million to $1 billion into Indian markets.

Private lender IndusInd Bank INBK.NS, which is already part of the global standard index, saw a weight increase, according to IIFL Capital.

While MSCI added and removed one Indian stock from the global standard indexes, it added eight stocks from China and deleted 20 stocks from the world's second-largest economy.

Overall, 23 securities will be added and 107 securities deleted from the MSCI global standard indexes as part of the review.

(Reporting by Vivek Kumar M and Bharath Rajeswaran in Bengaluru)

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Feb 7 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC MOBILITY Q3 CONSOL NET LOSS 5.64 BILLION RUPEES

• OLA ELECTRIC MOBILITY Q3 CONSOL REVENUE FROM OPERATIONS 10.45 BILLION RUPEES

Source text: [ID:]

Further company coverage: OLAE.NS

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