Ather Energy Ltd

⚡ Ather Energy Reports Strong FY '26 Growth: Volumes Up 66%, Margins Improve

• Overall volumes increased 66% year-on-year in FY '26

• Q4 FY '26 delivered 83,000 units, representing 80% growth compared to volumes two years ago

• Market share improved from 8% to 18.6% in Q4 FY '26

• Middle India market share quadrupled to 17.3%

• Store network doubled from 351 to 700 stores by March 2026

• Pro-Pack attach rate reached a record 93% in Q4 FY '26

• Adjusted Gross Margin improved by 5 percentage points to 24% with subsidy (21% without subsidy)

• EBITDA losses improved by 1,500-1,600 basis points year-on-year

• Q4 EBITDA showed 2,000 basis point improvement (from -23% to -2%)

• New scooter platform EL targeted for launch in late 2026, focusing on mass segment (INR 1-1.25 lakh price range)

• Factory 3.0 in Chhatrapati Sambhajinagar to commence Phase 1 production by Q3 FY '27, adding 42,000 units/month capacity

• Charging infrastructure expanded to over 6,000 fast charging points

• Ather became the number one searched EV brand in India in Q4 FY '26