Ather Energy Limited — PPTs, 04-05-2026: Investor Presentation

Ather Energy reported strong FY26 results with Total Income up 66% YoY to 3,823 Cr and Q4 Income up 76% YoY to 1,214 Cr. Vehicle sales reached 263K units in FY26 (+69% YoY) and 83K in Q4 (+76% YoY). Market share hit 18.6% in Q4 FY26, driven by significant gains in Middle India (17.3%) and Rest of India (12.1%).

Growth was fueled by doubling the network to 700 Experience Centres and expanding to 6,000+ charging points. Cost of Goods Sold per unit reduced by 9% in FY26 to INR 110,199, boosting Adjusted Gross Margin to 24%. The company also saw a consistent 93% attach rate for its AtherStack Pro subscription.

Ather launched new products including High Range 450 and Rizta. Factory 3.0 is under development in AURIC for EL scooter production, with Phase-I commencing Q3 FY27 aiming for 5 lakh units/annum.

EBITDA margin significantly improved to (6.7%) for FY26 (+1,630 bps YoY) and (2.5%) for Q4 FY26 (+2,080 bps YoY).

Ather mitigated supply chain challenges via strategic sourcing and new technologies. While commodity price inflation is a near-term headwind, the focus remains on cost efficiencies and strategic expansion. Ather is also pioneering industry-wide charging standardization.