Date: August 03, 2026

Financial Performance Summary

Consolidated Results Q1 FY27 (Quarter ended June 30, 2026)

Ather Energy reported strong financial performance for Q1 FY27 with significant growth across key metrics:

Income & Revenue:

  • Consolidated total income: ₹1,260 crore, up 87.2% YoY
  • Non-vehicle revenue (software subscriptions, charging, accessories, spares, and service) contributed 14% of revenue from operations, up from 13% in Q1 FY26

Profitability & Margins:

  • Consolidated Adjusted Gross Margin (AGM): ₹282 crore, up 82.3% YoY
  • Consolidated EBITDA: ₹9 crore (positive), compared to EBITDA loss of ₹106 crore in Q1 FY26
  • EBITDA margin: 0.8% (positive), representing a 1,650 basis points improvement YoY
  • Consolidated net loss: ₹51 crore, significantly narrowed from ₹178 crore loss in Q1 FY26

Operational Metrics:

  • Units delivered: 83,173 units, up 80.5% YoY
  • Pre-orders: 150,000 units, up 158% YoY
  • Customer enquiries: 707,000, up 95% YoY

Subsidiary Performance

  • Ather Insurance Limited (wholly owned subsidiary) incurred net loss of ₹0.22 crore during Q1 FY27

Performance Drivers & Cost Analysis

Demand Environment:

  • Electric two-wheeler industry registrations increased 68% YoY to approximately 525k units (Vahan data)
  • EV penetration crossed 10% for the first time in June 2026
  • Demand continued to outpace available production throughout the quarter

Cost Management:

  • Faced commodity inflation driving up raw material costs, particularly for copper, aluminium, lithium, and crude-linked materials
  • Implemented calibrated pricing actions, improved product mix management, and cost reductions through value engineering and supplier negotiations
  • Successfully sustained healthy margins despite input cost pressures

Capacity Expansion & Growth Initiatives

Manufacturing Expansion:

  • Factory 3.0 at AURIC in Chhatrapati Sambhaji Nagar remains on schedule
  • Phase 1 with annual production capacity of 500,000 units expected to commence production during Q3 FY27
  • Upon completion of Phase 1 and 2 at AURIC, total installed annual production capacity will reach 1.42 million electric two-wheelers

Product Development:

  • Preparing to unveil first production scooter on all-new EL platform on August 29, 2026 at Ather Community Day 2026
  • EL platform is Ather's next-generation vehicle architecture, engineered for greater versatility, scalability, and manufacturing efficiency
  • First EL scooter will enable serving a significantly larger customer base and represents the first in a new family of products

Management Commentary

Tarun Mehta, Co-founder & CEO, stated: "We continued to see strong demand across our portfolio, as structural tailwinds from both policy support and shifting customer sentiment translated into a massive upsurge for our products, with demand far outstripping supply. This gives us confidence that the market continues to expand. In the coming months, we are particularly excited about our new product on the EL platform, commencing production alongside the scale-up of our new factory at AURIC. Together, they position us well for the next phase of Ather's growth."

Company Background

Ather Energy Limited (NSE: ATHERENERG | BSE: 544397 | INE0LEZ01016) is a pioneer in the Indian electric two-wheeler market. Founded in 2013 by Tarun Mehta and Swapnil Jain, the company currently offers two product lines: Ather 450 series (performance-oriented) and Ather Rizta (family scooter line), totaling 9 variants. Ather operates the widest 2W fast charging network in India (Ather Grid) and holds significant intellectual property including 323 registered trademarks, 270 registered designs, 52 registered patents, with pending applications for 142 trademarks, 32 designs and 667 patents globally as of June 30, 2026.