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Hello, friends!
As we kick off 2026, India’s business landscape is buzzing with stories of ambition and resilience.
Some of the most iconic companies we interact with daily are still operating in the red, pouring money into growth while chasing future profits.
It is a classic tale in high-stakes sectors like telecom and electric vehicles.
Today, from THOUSIF Inc. – INDIA, we are zooming in on two powerhouse leaders: Kumar Mangalam Birla and Bhavish Aggarwal.
Their companies, Vodafone Idea and Ola Electric, are among India’s top loss-making giants, yet they are very much alive and pushing boundaries.
We will also touch on Swiggy, another standout in the loss-making club.
These examples show why losses are not the end of the road in India’s booming economy.
Loss-Making Giants
1. Vodafone Idea Under Kumar Mangalam Birla
Kumar Mangalam Birla, the seasoned industrialist heading the Aditya Birla Group, has been steering Vodafone Idea (Vi) through stormy waters for years.
Born from the 2018 merger of Vodafone and Idea, Vi has battled intense competition from Jio and Airtel, plus hefty debt and spectrum dues.
Even in late 2025 quarters, losses remained in the thousands of crores, though narrowing slightly with better subscriber trends and network investments.
What keeps Vi alive? Successful equity raises, government converting dues to stake, and a loyal base of over 200 million users.
In 2026, with 5G expansion and potential relief measures, Birla’s bet on telecom’s long game looks set to endure.
2. Ola Electric Led By Bhavish Aggarwal
Bhavish Aggarwal, the dynamic founder of Ola, took Ola Electric public and turned it into an EV sensation.
Affordable scooters and bold promises put it on the map, but scaling factories, R&D, and battling competition mean big cash burn.
Losses widened in FY25, crossing ₹1,500 crore and forecasted to be higher as expansion continues.
Market share fluctuated, but recent months show recovery with record registrations and government PLI incentives flowing in.
Aggarwal’s vision for India’s green mobility future, complete with in-house batteries and motors, keeps investors hooked.
In 2026, as EV adoption surges, Ola Electric is charging full speed ahead.
3. Swiggy
While not led by Birla or Aggarwal, Swiggy deserves a nod as one of the top loss-makers.
CEO Sriharsha Majety has driven explosive growth in food delivery and Instamart quick commerce, but heavy discounts and dark store builds led to losses exceeding ₹2,000 crore in FY25.
Strong revenue jumps and market dominance keep it resilient.
Fun Trivia
Did you know Ola Electric achieved India’s first government-certified ferrite motor in 2025? This innovation cuts dependency on rare-earth imports, giving Aggarwal’s company a big edge in cost and supply chain!
Final Thoughts
Leaders like Kumar Mangalam Birla and Bhavish Aggarwal remind us that in growth industries, short-term losses often fuel long-term dominance.
Vodafone Idea and Ola Electric are not just surviving; they are shaping India’s digital and sustainable future in 2026.
Which of these giants do you think will turn profitable first? Share your views!
For more straightforward insights on Indian business and markets, dive into our other articles at THOUSIF Inc. – INDIA.
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