Ather Energy stock up ~200% in a year as EV two-wheeler sales surge 69%
Ather Energy shares have roughly tripled from a 52-week low of Rs 318.60 to a high of Rs 1,069, backed by FY26 sales of 2,62,942 units and total income of Rs 3,823 crore. Retail footprint expanded to 700 Experience Centres, 548 service centres and 6,000+ charging points. Analysts stay bullish with Emkay's Rs 1,150 target.
What happened
Ather Energy stock up ~200% in a year on strong EV two-wheeler growth; FY26 revenue Rs 3,823 crore, sales up 69%, retail network expanded to 700 Experience
Key facts
- share up ~200% in 1 year
- 52-week high Rs 1,069
- 52-week low Rs 318.60
- Q4FY26 sales 83,418 units
- Q4FY26 revenue Rs 1,214 crore
- adjusted gross margin 25%
- FY26 sales 2,62,942 units
- FY26 total income Rs 3,823 crore
- 700 Experience Centres
- 548 service centres
- 6,000+ charging points
- Emkay target Rs 1,150
Why this matters
Ather's rapid retail and charging-network buildout alongside 69% volume growth positions it as a scaling EV platform ripe for partnership or expansion plays in the two-wheeler segment.
What to watch
- EV subsidy or GST policy changes affecting two-wheeler pricing
- Quarterly gross margin and EBITDA breakeven progress
- Competitor pricing actions and new model launches
- Analyst target revisions beyond Emkay's Rs 1,150
- Battery/lithium input cost movements
- Monitor monthly VAHAN registration data for Ather share vs Ola/TVS/Bajaj
- Track FY27 guidance and path-to-profitability commentary on next earnings call
- Watch for capacity expansion / new model launches to justify current valuation
- Assess service and charging network utilization as retail footprint scales