OLA ELECTRIC

acked adequate internal controls for physically verifying scooters at its retail outlets and state distribution hubs, resulting in a “material weakness” at one of its wholly owned subsidiaries, according to the company’s statutory auditor. The internal control deficiency was identified at Ola Electric Technologies, the key operating arm of Ola Electric Mobility, which contributed the bulk of the company’s revenue in fiscal 2024–25. BSR & Co. LLP, the statutory auditor for both entities, flagged a material weakness in internal controls at Ola Electric in its 2024–25 annual report—raising concerns that the lapse could impact the accuracy of the company’s inventory reporting.