Ather Energy Narrows Loss to ₹154 Crore on Record Sales and Margin Improvement

Ather Energy reported a strong Q2 FY26, narrowing its net loss to ₹154 crore (from ₹197.2 crore YoY) and posting a 57% YoY rise in revenue to ₹941 crore, driven by robust demand for its Rizta and 450-series e-scooters. The company delivered 65,595 units, up 67% YoY, capturing a record 17.4% market share in India’s electric two-wheeler segment—up from 12.1% last year. Adjusted gross margin improved 300 bps to 22%, reaching ₹210.6 crore (up 84% YoY), aided by value engineering, premium product mix, and rising non-vehicle revenue—which now accounts for 12% of income via software subscriptions, charging, accessories, and services. EBITDA loss narrowed to ₹90.7 crore, with EBITDA margin improving 1,100 bps YoY to -10%, reflecting steady progress toward profitability. The Bengaluru-based EV maker expanded its retail footprint to 524 experience centres, adding 78 stores in the quarter, fueling growth across Middle India, where market share nearly doubled to 14.6%. It also strengthened its lead in South India (25% share). However, the launch of its new ₹2,000-crore Factory 3.0 in Aurangabad has been delayed to October 2026 (from July) due to an unexpected environment clearance requirement. Once operational, the plant will boost Ather’s annual capacity to 1.42 million units, supporting its pan-India expansion and profitability roadmap.