Ather Energy stock up ~200% in a year as FY26 revenue climbs 66% to Rs 3,823 crore
Ather hit a 52-week high of Rs 1,069 on strong EV two-wheeler momentum. Q4FY26 sales rose 76% YoY to 83,418 vehicles with Rs 1,214 crore revenue and 25% adjusted gross margin. Market share climbed to 16.5% and the Experience Centre network expanded to 700. Emkay targets Rs 1,150.
What happened
Ather Energy stock surged nearly 200% in a year on strong EV two-wheeler momentum. FY26 revenue hit Rs 3,823 crore (+66%), market share rose to 16.5%, and
Key facts
- shares up ~200% in 1 year
- 52-week high Rs 1,069
- Q4FY26 83,418 vehicles sold (+76% YoY)
- Q4 revenue Rs 1,214 crore
- adjusted gross margin 25%
- FY26 total income Rs 3,823 crore (+66%)
- 700 Experience Centres
- market share 16.5%
- Emkay target Rs 1,150
Why this matters
Ather's rising 16.5% share and expanding retail footprint make it both a formidable competitor and a strategic partnership or consolidation candidate in the fast-growing EV two-wheeler space.
What to watch
- Monthly VAHAN registration data confirming market-share trajectory
- Adjusted gross margin trend in next quarterly print
- EV subsidy/FAME-III policy or GST changes on two-wheelers
- Competitor volume and pricing moves (Ola Electric, TVS, Bajaj)
- New product launches and battery/cost input trends
- Insider/promoter or pre-IPO lockup selling activity
- Analysts revise price targets upward past Rs 1,150 following 52-week high momentum
- Ather accelerates Experience Centre rollout beyond 700 and pushes into tier-2/3 cities
- Competitors (Bajaj, TVS, Ola) respond with pricing or new-model launches
- Potential capital raise or capacity expansion announcement to fund growth
- Retail/institutional flows chase the outperformer, raising volatility