Ather Energy stock up ~200% in a year as FY26 sales hit record 2.63 lakh units
Ather Energy posted FY26 volumes of 2,62,942 units (+69% YoY) and total income of Rs 3,823 crore (+66%), with adjusted gross margin at 25% and EBITDA loss narrowed to Rs 30 crore in Q4. The maker doubled its network to 700 Experience Centres and 548 service points, backed by 6,000+ charging points and a new Maharashtra plant adding 42,000 units/month capacity by FY27.
What happened
Ather Energy shares up ~200% in a year as the EV two-wheeler maker posts record FY26 sales, revenue growth, margin expansion, and doubles its retail network to
Key facts
- up ~200% in 1 year
- 35% YTD 2026
- 52-week high Rs 1,069
- 52-week low Rs 318.60
- Q4FY26 sold 83,418 units up 76% YoY
- revenue Rs 1,214 crore
- adj gross margin 25%
- EBITDA loss Rs 30 crore
- FY26 sold 2,62,942 units up 69%
- total income Rs 3,823 crore up 66%
- 700 Experience Centres
- 548 service centres
- 6,000+ charging points
- 42,000 units/month new capacity by FY27
Why this matters
Record 2.63 lakh units, 76% Q4 volume growth, and expanding capacity make Ather a strengthening EV two-wheeler player worth watching for partnerships, charging tie-ups, or capital moves.
What to watch
- Monthly VAHAN registration data for volume momentum vs 2.63L base
- Q1FY27 gross margin sustainability above 25% and EBITDA breakeven progress
- FAME/EV subsidy policy changes or state-level incentive shifts
- Utilization ramp of new 42k/month Maharashtra capacity
- Same-store productivity of the 700 Experience Centres
- Watch for analyst upgrades/target hikes citing margin inflection and network scale
- Expect promoter/anchor lock-in expiry and possible block deals given 200% appreciation
- Competitor pricing responses from Ola Electric, TVS iQube, Bajaj Chetak
- Management guidance on FY27 profitability timeline and Maharashtra plant ramp