Ather Energy records loss of Rs 79.6 crore in Q4; sells 83,418 units of electric two-wheelers
Net sales for the period under review were Rs 953.60 crore, up 50.2% YoY.
For the quarter ended March 31, 2026, Ather Energy delivered volumes of 83,418 units, up 76% YoY, supported by the expansion of its retail network to 700 Experience Centres with 100 additions during the quarter.
This scale-up drove total income of Rs 1,214 crore, up 76% YoY, with continued strength in non-vehicle revenue contribution. In Q4, 93% of customers opted for AtherStack Pro, underscoring strong engagement with Ather?s software-led ecosystem.
Total operating expenditure rose by 32.9% to Rs 1030.60 crore in Q4 FY26 over Q4 FY25.
The company posted a pre-tax loss of Rs 84.60 crore in Q4 FY26 as against a pre-tax loss of Rs 197.80 crore in Q4 FY25.
The adjusted gross margin for Q4 FY26 showed a substantial improvement, expanding by nearly 700 basis points to 25%, compared to 18% in Q4 FY25.
EBITDA margin narrowed to (2.5%) in Q4 FY26, a 2080 basis point improvement YoY, with EBITDA loss of Rs 30 crore. The improvement was driven by sustained volume scaling, operating leverage, and continued gains in unit economics.
For FY26, Ather Energy has registered a net loss of Rs 812.30 crore on sales of Rs 2255 crore. The company had recorded a net loss and sales of Rs 885.10 crore and Rs 1753.80 crore in FY24, respectively.
Tarun Mehta, co-founder & CEO, Ather Energy, said: FY26 has been a fantastic year for us across volumes, market share, and financial performance.
We focused on building demand through strong product-led growth and scaling it through distribution. Rizta helped us unlock a much larger addressable market, and with that, we expanded our retail network. That demand translated into strong volume growth and better unit economics.
With our new scooter platform, EL, we have the opportunity to replicate the same growth levers at potentially a larger scale, going after the biggest total addressable market in the Indian E2W segment. Coupled with that, our investments in Factory 3.0 at AURIC will give us the scale and efficiency to serve that demand and set us up for the next phase of growth.
Ather Energy designs and manufactures high-performance electric scooters. The company?s current E2W portfolio consists of two distinct product lines, viz., the Ather 450 series and the Ather Rizta, and together, these product lines offer a total of nine variants.
The scrip fell 2.90% to currently trade at Rs 907.60 on the BSE.
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