Ather Energy Limited — Investor Meet, 06-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Ather Energy delivered a strong Q3 FY26: 68,000 units sold (+50% YoY) and total income nearing 1,000 Cr (+53% YoY). EBITDA significantly improved to -3% (~-29 Cr) on strong operating leverage and Rizta demand, with Adjusted Gross Margin hitting 25%. Distribution expanded to 600 stores. Non-vehicle revenue, driven by 91% ProPack software attach, reached 14% of income and is expected to compound. The upcoming EL platform aims for lower price points and broader market penetration, seen as margin-accretive. Management is confident in navigating commodity headwinds and views non-PLI status as a long-term P&L advantage.