Ather Energy announced its most successful annual and quarterly sales figures on Monday, revealing that volumes for FY26 increased by 69% year-on-year to 262,942 units, while Q4 volumes reached a record 83,418 units, a rise of 76% compared to the previous year. Despite these robust operational results, the company’s stock saw a decline, falling 2.25% to ₹913.85 on the National Stock Exchange (NSE) by midday, a loss of ₹21 from its previous close of ₹934.85.
Total income for FY26 stood at ₹3,823 crore, which is a 66% increase year-on-year, marking the highest annual revenue in the company’s history. Revenue for Q4 FY26 was reported at ₹1,214 crore, also up 76% year-on-year. The Adjusted Gross Margin for the full year more than doubled to ₹925 crore, resulting in margins expanding by approximately 500 basis points to 24% of total income.
Ather’s EBITDA losses significantly narrowed to ₹257 crore in FY26 from ₹531 crore in FY25, reflecting a margin improvement of about 1,630 basis points. In Q4, the EBITDA margin reached (2.5%), an improvement of nearly 2,080 basis points year-on-year, bringing the company closer to operational breakeven. The net loss for FY26 was reduced to ₹517 crore compared to ₹812 crore in FY25.
The company’s market share increased to 18.6% nationally, driven by the Rizta family scooter and a doubling of its retail network to 700 Experience Centres. Ather also expanded its service network to approximately 548 centres and its charging infrastructure to over 6,000 fast-charging points.
Since its listing on the NSE on May 6, 2025, Ather’s stock has appreciated about 24% year-to-date and trades near its 52-week high of ₹971.15, achieved last week. The total market capitalisation of Ather stood at around ₹35,000 crore at the time of this report.
Published on May 4, 2026
