Ather Energy jumps ~200% in a year on record FY26 EV sales and margin gains
Ather shares hit a 52-week high of Rs 1,069 after FY26 sales rose 69% to 2,62,942 units and income climbed 66% to Rs 3,823 crore. Retail footprint expanded to 700 Experience Centres, 548 service centres and 6,000+ charging points. Analysts stay bullish with a Rs 1,150 target despite FAME subsidy expiry pressure.
What happened
Ather Energy shares surged ~200% in a year on record FY26 EV sales, expanding retail network to 700 Experience Centres and improving margins. Analysts stay
Key facts
- share up ~200% in 1 year
- 52-week high Rs 1,069
- Q4FY26 sales 83,418 units up 76% YoY
- Q4 revenue Rs 1,214 crore
- gross margin 25%
- FY26 sales 2,62,942 units up 69%
- FY26 income Rs 3,823 crore up 66%
- 700 Experience Centres
- 548 service centres
- 6,000+ charging points
- target price Rs 1,150
Why this matters
Ather's expanding retail and charging footprint plus margin gains make it a strengthening EV platform worth tracking for partnership or infrastructure tie-ups as post-subsidy competition intensifies.
What to watch
- Monthly VAHAN registration data for EV two-wheeler share
- State-level EV subsidy policy changes post-FAME
- Battery/lithium input cost trend and gross margin trajectory
- Competitor pricing actions (Ola S1, Bajaj Chetak, TVS iQube)
- Quarterly unit-economics and path-to-profitability updates
- Watch for brokerage target revisions (upgrades vs downgrades) post-print
- Expect Ather to accelerate Experience Centre and service network buildout in tier-2/3 cities
- Anticipate new model/variant launches and financing tie-ups to defend volume
- Monitor working-capital and capex disclosures for margin durability