Ather Energy stock doubles as FY26 sales hit 2.63 lakh EVs, revenue jumps 66%
Ather Energy shares surged nearly 200% in a year on record FY26 performance: 2,62,942 units sold (up 69%), total income of Rs 3,823 crore (up 66%), and Q4 gross margin of 25%. Retail network doubled to 700 Experience Centres plus 548 service centres and 6,000 charging points. Analysts at SBI Securities and Emkay Global debate further upside after the rally.
What happened
Ather Energy stock surged ~200% in a year on record FY26 sales (2.63 lakh EVs, revenue Rs 3,823 crore). Retail network doubled to 700 Experience Centres;
Key facts
- 200% 1-year surge
- 35% YTD 2026
- 52-week high Rs 1,069
- 52-week low Rs 318.60
- Q4FY26 sales 83,418 units
- 76% YoY
- Q4 revenue Rs 1,214 crore
- gross margin 25%
- FY26 sales 2,62,942 units
- up 69%
- FY26 total income Rs 3,823 crore
- up 66%
- 700 Experience Centres
- 548 service centres
- 6,000 charging points
- 42,000 units/month new capacity
Why this matters
Ather's expanded distribution, charging infrastructure, and margin inflection make it a scaled EV two-wheeler platform worth watching for partnership, supply-chain, or capital-market moves as it consolidates its market position.
What to watch
- Monthly EV registration/VAHAN volume data vs guidance
- Q1 FY27 gross margin trajectory and path to net profitability
- EV subsidy/policy changes (FAME successor, state incentives)
- Competitor market-share and pricing moves
- Lock-in expiries or promoter/PE stake sales
- Battery/commodity cost trends affecting margins
- Analyst target revisions from SBI Securities and Emkay Global post-rally
- Ather to push new product launches and price actions to defend share
- Aggressive network expansion beyond 700 Experience Centres to sustain volume story
- Competitors (Ola, TVS, Bajaj) intensify pricing and financing incentives
- Institutional flows and possible index inclusion driving liquidity