Ather Energy stock up ~200% in a year on strong FY26; analysts eye Rs 1,150
Ather Energy shares hit a 52-week high of Rs 1,069 after FY26 results showed 2.63 lakh units sold (up 69%) and income of Rs 3,823 cr (up 66%). Adjusted gross margin expanded to 25% while EBITDA loss narrowed to Rs 30 cr. Retail footprint grew to 700 Experience Centres, 548 service centres and 6,000+ charging points. Brokerages stay bullish.
What happened
Ather Energy shares up ~200% in a year on strong FY26 results—2.63 lakh units sold, Rs 3,823 cr income, expanding margins, and retail network growing to 700
Key facts
- up ~200% in 1 year
- 52-week high Rs 1,069
- 52-week low Rs 318.60
- Q4FY26 83,418 units up 76% YoY
- Q4 revenue Rs 1,214 cr
- adjusted gross margin 25%
- EBITDA loss Rs 30 cr
- FY26 2,62,942 units up 69%
- FY26 income Rs 3,823 cr up 66%
- 700 Experience Centres
- 548 service centres
- 6,000+ charging points
- target Rs 1,150
- 42,000 units/month capacity by FY27
Why this matters
Ather's 2.63 lakh unit sales, expanding margins and dense charging footprint make it an increasingly attractive EV-mobility platform for partnerships, supplier tie-ups, or strategic positioning in the two-wheeler electrification wave.
What to watch
- Monthly VAHAN registration and market-share data for two-wheeler EVs
- Quarterly gross margin trajectory and EBITDA loss narrowing pace
- Any change in FAME-III / state EV subsidy structure
- Competitor price cuts or new model launches
- Institutional/promoter shareholding changes and lock-in expiries
- Ather likely accelerates Experience Centre and service-network expansion beyond 700/548 to defend market share
- Management guides on EBITDA breakeven timeline to sustain the profitability narrative
- Peers (Ola Electric, TVS, Bajaj) intensify pricing/feature competition and promotional push
- Brokerages issue fresh target revisions; some initiate coverage or upgrade post-results