Ather Energy stock doubles-plus in a year on record FY26 EV sales
Ather Energy rose nearly 200% over 12 months after selling 2,62,942 EV two-wheelers in FY26 (Rs 3,823 crore income) and 83,418 units in Q4FY26 (Rs 1,214 crore revenue, 25% adj gross margin). Retail footprint expanded to 700 Experience Centres, 548 service centres and 6,000+ charging points. Analysts split on further upside near the Rs 1,069 high, with targets around Rs 1,150.
What happened
Ather Energy stock surged ~200% in a year on record FY26 sales of 2.63 lakh EV two-wheelers, Rs 3,823 crore income, expanded retail network to 700 Experience
Key facts
- +200% stock 1yr
- 83,418 units Q4FY26
- Rs 1,214 crore Q4 revenue
- 25% adj gross margin
- 2,62,942 units FY26
- Rs 3,823 crore FY26 income
- 700 Experience Centres
- 548 service centres
- 6,000+ charging points
- 52-week high Rs 1,069
- Rs 1,150 target
Why this matters
Ather's expanding physical distribution (700 Experience Centres, 548 service points, 6,000+ chargers) and record EV two-wheeler share make it a strategic anchor or partner in India's electrification value chain.
What to watch
- Monthly EV two-wheeler registration numbers
- Subsidy/FAME policy revisions or GST changes
- Competitor pricing actions from Ola Electric and legacy OEMs
- Q1FY27 earnings margin surprise
- Analyst target revisions crossing Rs 1,150
- Battery/input cost movements affecting gross margin
- Track monthly VAHAN registration data for market-share trend vs Ola, TVS, Bajaj
- Watch for Q1FY27 guidance and gross-margin trajectory beyond 25%
- Monitor service-network expansion pace and unit-economics per Experience Centre
- Assess new model launches and pricing to defend/grow share
- Position for volatility around Rs 1,069-1,150 resistance zone