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The proposed expansion will increase the annual production capacity of electric two-wheelers at the Hosur factory from 420,000 units to 495,000 units, and the planned annual production capacity of Factory 3.0 from 500,000 units to 650,000 units.
Revenue from operations rose 62.90% year on year to Rs 1,464.24 crore from Rs 898.88 crore.
EBITDA stood at Rs 74.17 crore, compared with a loss of Rs 90.76 crore in Q2 FY26. The EBITDA margin improved to 4.9% from negative 9.6% a year earlier, marking the company's second consecutive EBITDA-positive quarter. Adjusted gross margin increased 160 basis points year on year to 24%.
Profit before tax stood at Rs 1.26 crore in Q2 FY27, compared with a loss of Rs 154.07 crore in Q2 FY26.
Total expenditure increased 39.64% year on year to Rs 1,499.65 crore from Rs 1,073.95 crore. Raw material consumption rose 59.78% YoY to Rs 1,176.57 crore. Employee expenses increased 5.91% to Rs 120.69 crore, while interest costs climbed 25.25% to Rs 26.04 crore. Depreciation rose 10.23% YoY to Rs 46.87 crore.
Ather Energy sold 93,211 electric two-wheelers during the quarter, up 42% year on year from around 66,000 units. Customer enquiries increased 109% to about 10 lakh, while pre-orders more than doubled to 1.80 lakh units.
The company plans to increase annual production capacity at its Hosur facility by 75,000 units, taking it to 4.95 lakh units by December 2026. It also plans to expand annual capacity at its AURIC facility by 1.5 lakh units to 6.5 lakh units, with the additional capacity expected to begin production by Q2 FY28. The expansions will take Ather's combined installed annual capacity to approximately 11.4 lakh units. The company plans to invest around Rs 122 crore in the capacity enhancements.
Non-vehicle revenue, including income from software subscriptions, charging, accessories, spares and services, accounted for 15% of revenue from operations, compared with 12% a year earlier. The company said 94% of customers opted for AtherStack Pro.
Ather Energy co-founder and CEO Tarun Mehta said demand had more than doubled year on year during the quarter. He added that the company was expanding production capacity at Hosur and AURIC to meet rising demand, while its new Konarc scooter would help it reach a wider customer base.
Ather Energy is an Indian electric two-wheeler manufacturer. The company designs and manufactures electric scooters, with its portfolio comprising the 450 series, Rizta and Konarc. It also operates Ather Grid, a fast-charging network, and offers software services, accessories, spare parts and after-sales support.
Consequent to above, the paid-up share capital of the Company has increased from Rs 39,66,03,751 /- consisting of 39,66,03,751 equity shares of Re 1/- each to Rs 39,67,18,101/- consisting of 39,67,18,101 equity shares of Re 1/- each.
The brokerage said the launch of Ather's mass-market Konarc scooter, coupled with faster electric vehicle adoption, has strengthened the company's growth outlook. It raised its revenue growth estimates to 54% for FY27, 100% for FY28 and 31% for FY29.
The brokerage expects Ather Energy to sustain a premium valuation of 5-7 times enterprise value to sales (EV/sales), supported by the company's growth prospects.
Ather unveiled the Konarc at its annual Community Day on 29 August 2026. Priced from Rs 99,999, the electric scooter marks the company's entry into the mass-market segment as it seeks to expand beyond the premium end of India's electric two-wheeler market.
According to reports, production of the Konarc is expected to begin at Ather's Hosur facility, with deliveries scheduled to start in September 2026.
Investor interest in Ather has also been supported by Hero MotoCorp's increased exposure to the electric two-wheeler maker. Hero MotoCorp recently acquired 1.18 crore Ather Energy shares for Rs 1,758 crore from the Government of Singapore, taking its stake in Ather to around 32.8% from 29.88% earlier.
Ather Energy, founded in 2013, designs and manufactures electric scooters. Its portfolio includes the performance-focused Ather 450 series and the family-oriented Rizta. The company also operates the Ather Grid fast-charging network and has a strong focus on R&D and innovation. As of 30 June 2026, Ather held 323 registered trademarks, 270 registered designs and 52 registered patents globally.
On a consolidated basis, Ather's net loss narrowed to Rs 51.09 crore in Q1 FY27 from Rs 178.23 crore in Q1 FY26 and Rs 100.23 crore in Q4 FY26. Revenue from operations surged 88.8% YoY and 3.6% QoQ to Rs 1,216.92 crore in the quarter ended 30 June 2026.
Adjusted gross margin stood at Rs 282 crore, up 82.3% YoY, although the adjusted gross margin percentage moderated to 22% from 23% a year ago. The company reported positive EBITDA of Rs 9.45 crore in Q1 FY27 against an EBITDA loss of Rs 105.97 crore in Q1 FY26. EBITDA margin improved to 1% from a negative 16% last year.
Konarc will be offered across Ather's S and Z product lines, with six variants offering Indian Driving Cycle (IDC) ranges of up to 200 km. The S line will have four variants with ranges of 100 km, 125 km, 161 km and 200 km, while the Z line will offer 125 km and 161 km variants.
The Konarc S 100 km is priced at Rs 99,999, while the S 125 km and S 161 km variants are priced at Rs 1,21,999 and Rs 1,44,999, respectively. Prices are effective ex-showroom Bengaluru. The company said the S 125 km and S 161 km variants will be available initially, with bookings and deliveries beginning in mid-September in a phased manner across select states before a wider rollout.
The scooter is built on Ather's new EL platform and focuses on ride comfort, range, durability and ease of ownership. It features a 14-inch front alloy wheel, a 12-inch rear alloy wheel and a 1,352 mm wheelbase. Ather said the scooter also gets long-travel suspension and is its first scooter to feature metal panels on the rear side and a steel unibody chassis.
Konarc introduces Ather's Advanced Electronic Braking System (AeBS), which dynamically adjusts the distribution of braking force between the front and rear wheels based on road conditions. The system uses software and sensors along with the scooter's existing drive controller and motor.
The company has also introduced features including MagicKey, AutoPop and AirWalk. MagicKey enables keyless unlocking and automatic locking when the rider walks away, while AutoPop provides hands-free access to the under-seat storage. AirWalk uses motor assistance to make manually moving the scooter easier.
Ather has doubled the service interval for Konarc to 10,000 km, which the company said would translate to roughly once a year for most riders. The scooter also comes with an onboard charger, while an optional 450W offboard charger can be used with the built-in 450W charger to deliver 900W combined charging.
All Konarc variants will use Ather's fifth-generation Bedrock battery. The company has announced a 10-year or 1,00,000 km warranty, whichever is earlier, with a guaranteed minimum 70% state of health at the end of the warranty period.
Ather Energy currently sells the 450 series and Rizta family scooter range. The company said it had nine variants across the two product lines as of the announcement. It operates the Ather Grid fast-charging network and has a focus on in-house research and development.
Ather Energy, founded in 2013 by Tarun Mehta and Swapnil Jain, designs and manufactures electric scooters. Its portfolio includes the performance-focused Ather 450 series and the family-oriented Rizta. The company also operates the Ather Grid fast-charging network and has a strong focus on R&D and innovation. As of 30 June 2026, Ather held 323 registered trademarks, 270 registered designs and 52 registered patents globally.
Hero MotoCorp will acquire additional shares in Ather Energy for up to Rs 1,758 crore, raising its stake from 29.88% to around 32.8%. The transaction, approved on 27 August 2026, will be completed by 3 September 2026 and does not require government or regulatory approvals.
Shares of Ather Energy surged 8.09% to Rs 1,616.30 on Friday, 28 August 2026.
Hero MotoCorp currently holds 29.88% of Ather on a fully diluted basis. Following the purchase, its stake will increase to up to around 32.8%.
The transaction will be completed by 3 September 2026. Hero MotoCorp will pay cash consideration of up to Rs 1,758 crore for the additional shares.
The company said no government or regulatory approvals are required for the transaction. It also said the purchase does not fall under related party transactions.
Ather was incorporated in India on 21 October 2013. It is engaged in designing, manufacturing, selling and servicing electric two-wheelers. It also operates charging infrastructure and provides services related to storage, distribution and management of electric power, including battery energy. The company has a presence across the country.
Ather reported turnover of Rs 3,671.76 crore for FY26, up from Rs 2,255 crore in FY25 and Rs 1,753.8 crore in FY24.
Ather Energy Ltd, Vedant Fashions Ltd, Alivus Life Sciences Ltd and KEI Industries Ltd are among the other gainers in the BSE's 'A' group today, 04 August 2026.
Restaurant Brands Asia Ltd surged 18.51% to Rs 83.99 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 31.74 lakh shares were traded on the counter so far as against the average daily volumes of 1.24 lakh shares in the past one month.
Ather Energy Ltd spiked 14.53% to Rs 1458.2. The stock was the second biggest gainer in 'A' group. On the BSE, 18.27 lakh shares were traded on the counter so far as against the average daily volumes of 4.05 lakh shares in the past one month.
Vedant Fashions Ltd soared 9.50% to Rs 457. The stock was the third biggest gainer in 'A' group. On the BSE, 1.4 lakh shares were traded on the counter so far as against the average daily volumes of 50985 shares in the past one month.
Alivus Life Sciences Ltd advanced 7.69% to Rs 1305. The stock was the fourth biggest gainer in 'A' group. On the BSE, 18285 shares were traded on the counter so far as against the average daily volumes of 11386 shares in the past one month.
KEI Industries Ltd spurt 7.53% to Rs 5387.4. The stock was the fifth biggest gainer in 'A' group. On the BSE, 1.2 lakh shares were traded on the counter so far as against the average daily volumes of 36974 shares in the past one month.