Ather Energy stock doubles in a year as FY26 revenue hits Rs 3,823 crore
Ather Energy delivered 2,62,942 units in FY26 (+69%), with revenue up 66% to Rs 3,823 crore and adjusted gross margin at 25%. Retail footprint nearly doubled to 700 Experience Centres plus 548 service centres and 6,000+ charging points, as analysts at SBI Securities and Emkay weigh further upside on the 200% stock rally.
What happened
Ather Energy's stock surged nearly 200% in a year as FY26 revenue hit Rs 3,823 crore on 69% volume growth. Its retail network nearly doubled to 700 Experience
Key facts
- 200% 1-year stock surge
- 83,418 vehicles Q4FY26 (+76% YoY)
- Rs 1,214 crore Q4 revenue
- 25% adjusted gross margin
- EBITDA loss Rs 30 crore
- 2,62,942 units FY26 (+69%)
- Rs 3,823 crore FY26 income (+66%)
- 700 Experience Centres
- 548 service centres
- 6,000+ charging points
- 42,000 units/month new capacity by FY27
- 52-week high Rs 1,069
Why this matters
Ather's expanding retail and charging network plus improving margins make it a strengthening EV mobility platform worth tracking for partnership, supply, or consolidation angles in India's two-wheeler electrification race.
What to watch
- Monthly registration/volume data from VAHAN for deceleration signs
- FAME-III or state EV subsidy policy changes
- Quarterly gross margin trajectory vs the 25% benchmark
- Ola Electric and incumbent OEM pricing actions
- Analyst target revisions from SBI Securities, Emkay post-results
- Accelerate Experience Centre rollout beyond 700 to lock tier-2/3 market share
- Push new model launches and battery/charging ecosystem to defend ASP and margin
- Use stock strength for QIP/capital raise to fund capacity and R&D
- Deepen service network (548 centres) to convert volume into recurring revenue and retention