Ather Energy stock up ~200% in a year as FY26 sales hit record 2.62 lakh units
Ather Energy delivered 83,418 vehicles in Q4FY26 (up 76% YoY) and 2,62,942 units across FY26 (up 69%), with revenue of Rs 1,214 crore for the quarter and Rs 3,823 crore income (up 66%) at 25% adjusted gross margin. Retail network doubled to 700 Experience Centres, 548 service centres and 6,000+ charging points, with Maharashtra capacity expansion targeting 42,000 units/month in FY27.
What happened
Ather Energy's stock surged nearly 200% in a year alongside record FY26 sales, doubled retail network to 700 Experience Centres, and planned Maharashtra
Key facts
- 200% stock gain 1yr
- Q4FY26 83,418 vehicles
- 76% YoY
- Rs 1,214 crore revenue Q4
- FY26 2,62,942 units
- 69% YoY
- Rs 3,823 crore income
- 66% YoY
- 25% adj gross margin
- 700 Experience Centres
- 548 service centres
- 6,000+ charging points
- 52-week high Rs 1,069
- 42,000 units/month new capacity FY27
Why this matters
The 6,000+ charging point footprint and expanded service infrastructure create partnership and co-investment openings across charging, financing, and regional distribution as capacity ramps toward FY27.
What to watch
- Monthly VAHAN registration data vs Ola Electric and TVS iQube
- Quarterly gross margin trajectory and operating leverage from network scale
- EV subsidy / FAME policy changes and battery input cost movements
- Capacity utilization at expanded Maharashtra facility
- Any lock-in expiry / promoter or PE stake sales post IPO run
- Ather accelerates Maharashtra plant ramp toward 42k units/month FY27 target
- Continued Experience Centre and service network buildout in tier-2/3 cities
- Push into new model variants/price points to defend share vs Ola and legacy OEMs
- Guidance emphasis on PAT breakeven and gross margin expansion in investor calls