Ather Energy stock up ~200% in a year on strong FY26; retail network doubles to 700 centres
Ather reported FY26 revenue of Rs 3,823 crore with 2.63 lakh EVs sold and Q4 volumes up 76% YoY at 83,418 units. Retail footprint doubled to 700 Experience Centres and 548 service centres, backed by 6,000+ charging points and Maharashtra capacity expansion. Analysts stay bullish with a Rs 1,150 target versus a 52-week high of Rs 1,069.
What happened
Ather Energy stock up nearly 200% in a year on strong FY26 results—revenue Rs 3,823 crore, 2.63 lakh EVs sold, retail network doubled to 700 Experience Centres.
Key facts
- 200% stock surge in 1 year
- 83,418 vehicles Q4FY26
- 76% YoY surge
- Rs 1,214 crore revenue Q4
- 25% adjusted gross margin
- EBITDA loss Rs 30 crore
- 2,62,942 EVs FY26
- Rs 3,823 crore total income
- 700 Experience Centres
- 548 service centres
- 6,000+ charging points
- 52-week high Rs 1,069
- target Rs 1,150
Why this matters
Maharashtra capacity expansion and a rapidly widening retail-plus-charging footprint position Ather as a stronger consolidation player or partnership target in the crowded EV two-wheeler market.
What to watch
- Monthly VAHAN registration data for E2W market share shifts
- Q1 FY27 margins and cash burn / path to profitability
- EV subsidy policy (FAME/state-level) changes
- Charging network scaling beyond 6,000 points
- Analyst target revisions vs the Rs 1,069 52-week high
- Ather likely to push further Experience Center and service network expansion into Tier-2/3 cities to sustain volume growth
- Ramp Maharashtra plant utilization and expand product lineup (Rizta family) to broaden addressable market
- Guide toward EBITDA breakeven / positive unit economics to justify valuation
- Competitors (Ola, TVS iQube, Bajaj Chetak) intensify pricing and dealer expansion to defend share