Ather Energy stock up ~200% in a year on record FY26 EV sales, network to 700 stores
Ather sold 2.63 lakh EV two-wheelers in FY26 (+69%), with total income of Rs 3,823 crore (+66%) and Q4 revenue of Rs 1,214 crore. Retail footprint expanded to 700 Experience Centres, 548 service centres and 6,000 charging points. Analysts stay bullish with a Rs 1,150 target despite an EBITDA loss of Rs 30 crore.
What happened
Ather Energy stock up ~200% in a year on strong FY26 results: 2.63 lakh EV two-wheelers sold, Rs 3,823 crore income, and retail network expanded to 700
Key facts
- 200% 1-year stock surge
- 83,418 vehicles Q4FY26 (+76% YoY)
- Rs 1,214 crore Q4 revenue
- 25% adjusted gross margin
- EBITDA loss Rs 30 crore
- 2,62,942 units FY26 (+69%)
- Rs 3,823 crore total income (+66%)
- 700 Experience Centres
- 548 service centres
- 6,000 charging points
- 52-week high Rs 1,069
- Rs 1,150 target
Why this matters
With record FY26 EV volumes, a dense retail-and-charging network, and bullish analyst sentiment, Ather is positioning as a scaled EV two-wheeler platform ripe for strategic partnerships, charging-infrastructure tie-ups, or category expansion.
What to watch
- Monthly VAHAN registration data vs Ola/TVS/Bajaj market share shifts
- Q1-Q2 FY27 EBITDA loss trajectory and gross margin per unit
- EV subsidy/policy changes (state incentives, PLI, FAME successor)
- Cash burn and any equity dilution or fresh capex announcements
- Service center density scaling vs after-sales complaint trends
- Ather pushes store expansion past 700 into tier-2/3 cities and scales charging network to defend share
- New model launches (Rizta family extensions, mass-market variants) to broaden addressable base
- Competitors intensify pricing and financing offers to counter Ather's premium positioning
- Management guidance toward EBITDA break-even timeline to sustain analyst bullishness