Ather Energy reported its best-ever annual and quarterly sales figures on Monday, with FY26 volumes rising 69 per cent year-on-year to 2,62,942 units and Q4 volumes hitting a record 83,418 units, up 76 per cent y-o-y. Despite the strong operational showing, the Bengaluru-based electric scooter maker’s stock fell 2.25 per cent to ₹913.85 on the NSE by midday, shedding ₹21 from its previous close of ₹934.85.
Total income for FY26 came in at ₹3,823 crore, up 66 per cent y-o-y, marking the company’s highest-ever annual revenue. Q4 FY26 revenue stood at ₹1,214 crore, also up 76 per cent y-o-y. Adjusted Gross Margin for the full year more than doubled to ₹925 crore, with margins expanding approximately 500 basis points to 24 per cent of total income.
EBITDA losses narrowed sharply to ₹257 crore in FY26 from ₹531 crore in FY25, a roughly 1,630 basis point margin improvement. In Q4 alone, EBITDA margin reached (2.5 per cent), improving nearly 2,080 basis points y-o-y, bringing the company closer to operational breakeven. Net loss for FY26 narrowed to ₹517 crore from ₹812 crore in FY25.
Ather’s market share climbed to 18.6 per cent nationally, supported by the Rizta family scooter and a doubling of its retail network to 700 Experience Centres. The company also expanded its service network to around 548 centres and its charging infrastructure to over 6,000 fast-charging points.
The stock, listed on NSE since May 6, 2025, has risen roughly 24 per cent year-to-date and trades near its 52-week high of ₹971.15 hit last week. Total market capitalisation stood at approximately ₹35,000 crore at the time of reporting.