Ather Energy Q1 FY26 Earnings Results: Posts 97% Volume Growth and Margins Improve Sharply

Ather Energy kicked off FY26 with impressive growth. The electric scooter maker sold 46,078 units in Q1, a 97% jump compared to last year. This surge was driven by strong demand for its family scooter, Ather Rizta, and the opening of 95 new Experience Centres (ECs).

Ather Energy Q1 FY26 Financial Highlights

• Total income reached ₹672.9 crore in Q1 FY26, up 83% YoY.
• Non-vehicle revenue, including software, accessories, and services, made up 12% of the income.
• Adjusted Gross Margin rose by 117% YoY to ₹154.8 crore.
• Margin improvements came from cost efficiency, better product mix, and lower battery prices.
• EBITDA margin improved by nearly 1,700 basis points, reducing losses to ₹106 crore.
• Net loss after tax narrowed to ₹178.2 crore.

Market Share Gains Across Regions

• National market share grew to 14.3% from 7.6% YoY.
• Ather remained No.1 in South India with a 22.8% share.
• In Middle India (Gujarat, Maharashtra, MP, Chhattisgarh, Odisha), its share rose 2.6x to 10.7%.
• The company plans to expand further into North India in the upcoming quarters.

Rapid Network Expansion

Ather added 95 new ECs in Q1 FY26, after adding 86 in Q4 FY25, bringing its total to 446.
It is using flexible retail formats across cities to lower breakeven volumes and increase efficiency. Charging network also expanded from 3,611 to 4,032 points across India, Nepal, and Sri Lanka.

Continued Focus on Innovation

• Strong uptake of AtherStack Pro, the brand’s software-based riding system.
• Total of 4,032 chargers installed, including 3,997 in India.
• As of June 30, 2025, Ather holds 318 trademarks, 204 designs, and 48 patents, with hundreds more pending.

CEO’s Outlook

CEO Tarun Mehta said the strong Q1 was led by Rizta’s success and rapid expansion. Ather is growing faster in Middle India than expected and will now focus on Northern markets. The company remains committed to improving margins and expanding its reach across the country.

Read more: Adani Enterprises Denies Battery Tie-Up with Chinese Firms BYD and Welion.

Ather Energy Share Price Movement

As of 10:18 AM, August 5, 2025, Ather Energy share price (NSE: ATHERENERG) is currently trading at ₹393.90, reflecting a slight dip of 0.52% from the previous close. The stock opened at ₹400.95 and has moved between a low of ₹380.75 and a high of ₹410.00 during the trading session. Over the past year, the stock has shown strong performance, rising from a 52-week low of ₹288.15 to a high of ₹414.65.

Conclusion

Ather Energy has delivered a powerful Q1 in FY26 with record growth, expanding presence, and improving financials. With rising demand, stronger margins, and strategic expansion plans, Ather is well-positioned to lead India’s electric two-wheeler market in the coming years.

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