Results · Mobility & Logistics

Ather Energy narrows Q4 loss on higher volumes

What they do

Ather Energy designs and manufactures electric scooters like the 450 series and Rizta

Q4 FY26 revenue from operations was Rs 1,174 crore and net loss was Rs 100 crore

Net loss narrowed from Rs 234 crore in Q4 FY25, aided by higher volumes and margins

Ather Energy reported its Q4 FY26 and full-year results on 4 May 2026.
Q4 net loss was Rs 100 crore, down from Rs 234 crore in Q4 FY25.
Revenue from operations in Q4 was Rs 1,174 crore, up from Rs 953 crore a year ago.
Full-year FY26 net loss was Rs 517 crore, compared to Rs 812 crore in FY25.
FY26 revenue from operations was Rs 3,671 crore, up from Rs 2,255 crore in FY25.
Q4 volumes were 83,418 units, a 76% year-on-year increase.
FY26 volumes were 2,62,942 units, up 69% year-on-year.
The company's stock fell 1.3% to Rs 922.5 on NSE on the day of results.

Ather's losses narrowed significantly as it scaled production and improved margins.
Adjusted gross margin improved to 25% in Q4 from 18% a year ago.
EBITDA loss margin improved to minus 2.5% in Q4 from minus 23% in Q4 FY25.
The company is investing in a new factory in Maharashtra to boost capacity.
Commodity inflation (lithium up 2.5-3x, aluminium up 30-50%) is a key risk.

Ather Energy designs and manufactures high-performance electric scooters.
Its current portfolio includes the Ather 450 series and Ather Rizta, with nine variants total.
The Rizta family scooter, launched in 2024, crossed 3 lakh cumulative sales within two years.
Nearly 70% of Rizta customers are families with children.
An upcoming EL platform targets the mass segment (Rs 1-1.25 lakh), which is 45-50% of the electric two-wheeler market.
Non-vehicle revenue (software, charging, services) contributed 13% of total income in FY26.
The company had 700 experience centres and ~548 service centres at end of FY26.
Its charging network has over 6,000 points, with 13% usage from non-Ather users.

Factory 3.0 at AURIC in Maharashtra will have total capacity of 10 lakh units annually.
Phase I is expected to begin in Q3 FY27, adding about 42,000 units per month.
The company plans to launch the EL platform targeting the mass segment (Rs 1-1.25 lakh).
It will continue expanding its experience and service centre network.