Ather Energy stock up ~200% in a year on record Q4FY26; analysts eye Rs 1,150 target
Ather sold 83,418 EVs in Q4FY26 (up 76% YoY) with revenue of Rs 1,214 crore and 25% gross margin, though EBITDA loss stayed at Rs 30 crore. FY26 sales hit 2,62,942 units on total income of Rs 3,823 crore. Retail footprint grew to 700 Experience Centres, 548 service centres and 6,000+ charging points.
What happened
Ather Energy stock up ~200% in a year on record Q4FY26 results: 83,418 EVs sold, revenue Rs 1,214 crore, retail network expanded to 700 Experience Centres.
Key facts
- shares up ~200% in 1 year
- 83,418 vehicles Q4FY26
- 76% YoY rise
- revenue Rs 1,214 crore
- gross margin 25%
- EBITDA loss Rs 30 crore
- FY26 sales 2,62,942 units
- total income Rs 3,823 crore
- 700 Experience Centres
- 548 service centres
- 6,000+ charging points
- Rs 1,150 target
Why this matters
Ather's 2,62,942-unit FY26 scale and dense retail-plus-charging network make it a credible EV consolidation anchor or partnership target, contingent on a clear path from gross-margin strength to bottom-line breakeven.
What to watch
- Monthly VAHAN registration data for volume momentum
- Gross margin trajectory and EBITDA loss narrowing next quarter
- FAME/state EV subsidy policy changes
- Battery/input cost trends and localization progress
- Peer market-share shifts (Ola, TVS, Bajaj)
- Analyst upgrades citing Rs 1,150 target draw momentum flows; expect follow-on target revisions
- Ather likely accelerates Experience Centre and service network buildout to defend share
- Competitors respond with pricing/feature moves on premium e-scooters
- Management guidance on EBITDA breakeven timeline becomes key call-driver