Ather Energy’s fundamentals are showing strong improvement

Ather Energy’s fundamentals are showing strong improvement in growth, market share and operating performance, although the company is still loss-making. In Q1 FY27, consolidated total income increased 87.2% YoY to around ₹1,260 crore, while the net loss narrowed sharply to about ₹51 crore from ₹178 crore in Q1 FY26; importantly, EBITDA turned positive at around ₹9.5 crore, compared with an EBITDA loss of ₹106 crore a year earlier. Vehicle deliveries reached around 83,173 units, up 80.5% YoY, while Ather's electric two-wheeler market share improved to 16.8% from 14.2%, indicating strong demand for products such as the Rizta and 450 series. Demand remains encouraging, with customer enquiries rising 95% YoY to 7.07 lakh and quarterly pre-orders increasing 158% to around 1.5 lakh, although demand currently continues to outpace production. A major growth trigger is the company's new EL platform, launched with its first production scooter on August 29, which is designed to improve scalability, manufacturing efficiency and allow Ather to target a broader customer base.