Ather Energy
- Market cap
- ₹ 54,592 Cr.
- P/B
- 21.2x
- 52-week range
- 582.05 – 1,744
- ROE
- −33%
- ROCE
- −20%
- Dividend yield
- 0%
- Debt / equity
- 0.26
- Sector
- Automobiles
- Industry
- 2/3 Wheelers
- Listed on
- NSE, BSE
About
Ather Energy Limited is an India-based pure play electric vehicle (EV) company. The Company specializes in Indian electric two-wheeler (E2W) market. The Company sells E2Ws and the associated product ecosystem, comprised of its software, charging infrastructure and smart accessories, all of which are conceptualized and designed by it in India. Its E2W portfolio comprises two product lines: the Ather 450 line, which caters to customers seeking performance scooters, and the Ather Rizta line, which is targeted at customers seeking convenience scooters for their family. The Company’s software, Atherstack, is developed in-house and powers all Ather products. Atherstack offers approximately 69 features related to navigation, analytics, ride assistance, safety and productivity, as well as integration with its charging infrastructure and smart accessories. Upon purchase of an E2W, its customers have the option to purchase advanced Atherstack software features through the Atherstack Pro.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
2/3 Wheelers: 13 companies →Ather Energy against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Sales growth+88.7% against a typical +34.2% from a year earlier.2nd of 8
- Share price, 3 months+34.3% against a typical −5.1%.1st of 11
- Size₹ 54,591.9 Cr. market value against a typical ₹ 2,157 Cr. (1st = largest).4th of 11
Latest announcements
Exchange filings and their impact on the company.
- Ather to spend Rs 122 cr to lift annual capacity by 2.25 lakh units to 11.45 lakh units for future growth.
Ather Energy's board on October 26, 2026 approved about Rs 122 crore capex to expand electric two-wheeler capacity at Hosur from 4.2 lakh to 4.95 lakh units and planned Factory 3.0 at Chhatrapati Sambhajinagar from 5 lakh to 6.5 lakh units. This includes Rs 53 crore for a new battery line to meet demand and de-risk the supply chain, expected by Q3 FY28. The expansion lifts total capacity by 2.25 lakh units to 11.45 lakh units to support continued strong sales growth.
- Ather approved Q2 FY27 results and a Rs 53 cr battery line expansion for demand and supply de-risking.
Ather Energy's board on October 26, 2026 approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026. It also approved capacity expansion at Hosur and Chhatrapati Sambhajinagar (Factory 3.0), including a Rs 53 crore new battery line. The battery line is to cater to demand scenarios and de-risk the supply chain and is expected to be completed by Q3 FY28.
- 15 Oct 2026Granting/withdrawal/surrender/cancellation/suspension of key licenses/ regulatory approvalsLow impactPositivePrice 0% on 16 OctAther's insurance arm got IRDAI licence to distribute insurance, adding small fee income.
Ather Energy said IRDAI granted a Certificate of Registration dated October 15, 2026 to its wholly owned subsidiary Ather Insurance Limited to act as a Corporate Agent (Composite). The licence allows the subsidiary to distribute and service life, general and health insurance. This lets Ather offer insurance with its electric scooters and earn commission income, which will be small relative to vehicle sales in the next year.
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 26 Oct 2026 | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 3 Aug 2026 | Financial Results | To consider and approve the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026 |
| 15 Jul 2026 | Fund Raising | Board Meeting Intimation to consider and approve the proposal of raising of funds |
| 12 Jun 2026 | Fund Raising | To consider Fund Raising |
| 4 May 2026 | Financial Results | To consider and approve the financial results for the period ended March 31, 2026 |
| 2 Feb 2026 | Financial Results | To consider and approve the Unaudited Financial Results of the Company for the quarter and nine months ended December 31, 2025. |
Financials
Standalone figures in ₹ crore.
| ₹ Cr. | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 523 | 360 | 584 | 635 | 676 | 645 | 899 | 954 | 1,175 | 1,217 |
| Expenses | 762 | 489 | 723 | 776 | 848 | 779 | 1,031 | 1,026 | 1,244 | 1,250 |
| Operating Profit | −238 | −128 | −139 | −141 | −172 | −134 | −132 | −72 | −70 | −33 |
| OPM % | −46% | −36% | −24% | −22% | −25% | −21% | −15% | −8% | −6% | −2.7% |
| Other Income | 12 | 8 | 15 | 15 | 12 | 28 | 42 | 37 | 39 | 43 |
| Interest | 19 | 23 | 31 | 29 | 29 | 24 | 21 | 19 | 18 | 22 |
| Depreciation | 38 | 40 | 43 | 44 | 45 | 48 | 43 | 30 | 52 | 39 |
| Profit before tax | −283 | −183 | −197 | −198 | −234 | −178 | −154 | −85 | −100 | −51 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | −283 | −183 | −197 | −198 | −234 | −178 | −154 | −85 | −100 | −51 |
| EPS in Rs | −24,720.77 | −61.17 | −64.01 | −64.21 | −8.06 | −4.79 | −4.05 | −2.22 | −2.62 | −1.33 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 115%
- 3 Years
- 27%
- TTM
- 67%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- 12%
- TTM
- 52%
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- TTM
- —
- 10 Years
- —
- 5 Years
- −102%
- 3 Years
- −84%
- TTM
- —
Peers
Listed companies in the same business.
| Ather Energy | ₹ 1,650.00 | ₹ 54,592 Cr. | — | 21.2x | −33% | — |
| Bajaj Auto | ₹ 10,080.00 | ₹ 2,77,002 Cr. | 27.1x | 7.5x | 29% | 16.8% |
| TVS Motor Company | ₹ 3,977.00 | ₹ 1,88,942 Cr. | 56.6x | 18x | 33.4% | 5.7% |
| Hero Motocorp | ₹ 5,035.35 | ₹ 1,00,778 Cr. | 16.8x | 4.6x | 28.1% | 12.2% |
| Tube Investments of India | ₹ 2,076.00 | ₹ 40,186 Cr. | 82.5x | 7.2x | 9.6% | 4.9% |
| Ola Electric Mobility | ₹ 29.90 | ₹ 13,839 Cr. | — | 5x | −43.2% | −81.4% |
Management
- Tarun Sanjay Mehta
- Chief Executive Officer, Whole-Time Director (Promoter)
- Sohil Dilipkumar Parekh
- Chief Financial Officer
- Puja Aggarwal
- Compliance Officer, Company Secretary
- Swapnil Babanlal Jain
- Whole-Time Director (Promoter)
Prices are delayed and for information only. Nothing on this page is investment advice.