Ather Energy stock doubles as FY26 EV sales hit 2.63 lakh units, network expands to 700 centres
Ather Energy shares surged ~200% in a year on record FY26 performance: 2,62,942 EVs sold, total income up 66% to Rs 3,823 cr, and gross margin at 25%. Retail footprint doubled to 700 Experience Centres and 548 service centres with 6,000+ charging points. Brokerages eye Rs 1,150 target despite FAME subsidy expiry risks.
What happened
Ather Energy's stock surged ~200% in a year after record FY26 sales of 2.63 lakh EVs, revenue up 66% to Rs 3,823 cr, retail network doubling to 700 Experience
Key facts
- 200% stock rise 1yr
- 83,418 units Q4FY26
- revenue Rs 1,214 cr Q4
- gross margin 25%
- EBITDA loss Rs 30 cr
- 2,62,942 units FY26
- total income Rs 3,823 cr
- 700 Experience Centres
- 548 service centres
- 6,000+ charging points
- 52-week high Rs 1,069
- target Rs 1,150
Why this matters
Ather's rapid retail footprint expansion and record FY26 sales strengthen its EV market position, making it a competitive benchmark and potential partnership or consolidation reference point in the two-wheeler EV space.
What to watch
- FAME-II subsidy expiry timing and any replacement scheme
- Monthly VAHAN registration data for share vs OLA/TVS/Bajaj
- Q1 FY27 gross margin trajectory (hold above 25%?)
- Retail price adjustments post-subsidy and demand response
- Lock-up expiry / promoter or PE selling pressure post-IPO run
- Ather likely to accelerate service and charging network to defend NPS and reduce range/ownership anxiety
- Brokerages issue upgraded targets (Rs 1,150) with caveats on subsidy dependency
- Company may guide on margin resilience post-FAME via localization/cost cuts
- Potential new model/variant launches to broaden price-band coverage