Ather doubles Experience Centres to 700 as FY26 sales rise 69%

Ather Energy reported FY26 electric two-wheeler sales of 262,942 units and total income of Rs 3,823 crore, while adjusted gross margin improved to 25%. The EV maker plans a Maharashtra plant with capacity for 42,000 units a month by FY27.

— FiledFri, 24 Jul, 2026, 05:34 IST·First seen Fri, 24 Jul, 2026, 05:33 IST·Source Financial Express · BrandWagon

What happened

Ather Energy reported strong FY26 sales and revenue growth, improved margins and a sharply narrower EBITDA loss. It expanded to 700 Experience Centres and plans

Key facts

  • Q4FY26 vehicle sales: 83,418, up 76% YoY
  • Q4FY26 revenue: Rs 1,214 crore
  • Adjusted gross margin: 25%, versus 18% a year earlier
  • Q4FY26 EBITDA loss: Rs 30 crore
  • Q4FY26 EBITDA margin: -2.5%
  • FY26 electric two-wheeler sales: 2,62,942, up 69% YoY
  • FY26 total income: Rs 3,823 crore, up 66% YoY
  • Experience Centres: 700, versus 351 a year earlier
  • Service centres: about 548
  • Charging-point access: more than 6,000
  • Maharashtra plant capacity planned: 42,000 units per month
  • Share gain: nearly 200% in one year; about 35% in 2026
  • 52-week share high: Rs 1,069; low: Rs 318.60

Why this matters

Ather’s rapidly expanding physical network and planned 42,000-unit monthly Maharashtra capacity make it a stronger ecosystem partner or competitor across EV retail, financing, servicing and charging.

What to watch

  • Monthly vehicle registrations versus the 69% FY26 growth rate.
  • Adjusted gross-margin progression and any increase in promotional or financing subsidies.
  • Experience Centre productivity, including sales per outlet and service turnaround times.
  • Maharashtra plant construction timeline, supplier localization and utilization ramp.
  • Market-share changes versus Ola Electric, TVS, Bajaj and Hero MotoCorp.
  • Battery-cell, motor-controller and critical-component supply costs.
  • State EV-policy, subsidy and registration-rule changes.
  • Prioritize Experience Centre additions in high-registration cities and underpenetrated tier-2 markets.
  • Expand service capacity, spare-parts availability and technician hiring alongside showroom growth to avoid post-sales bottlenecks.
  • Use the Maharashtra plant to shorten western and central India delivery times while localizing components and improving freight economics.
  • Defend premium positioning through software, charging ecosystem, financing and fleet-resale partnerships rather than aggressive discounting.
  • Balance capacity build-out with demand visibility to limit underutilization and inventory risk.