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Ather said bringing insurance distribution in house will help streamline renewals, improve attach rates and enable the development of EV specific insurance products. The platform will primarily serve Ather's existing customer base, limiting acquisition costs and requiring only modest investment.
Ravneet Singh Phokela, chief business officer at Ather Energy, said insurance is a critical part of the ownership journey and an area where the experience can be made simpler and more predictable. He added that the initiative will allow Ather to design products aligned with real world EV usage over time.
The foray into insurance is part of Ather’s broader strategy to build an integrated ecosystem around its electric scooters, spanning vehicles, charging, servicing, software, accessories and ecosystem products such as 'Eight70' Warranty, software, and now, insurance.
Ather Energy designs and manufactures high-performance electric scooters. Its current E2W portfolio consists of two distinct product lines: the Ather 450 series, focused on performance-oriented customers, and the Ather Rizta, a convenience-first family scooter line launched in 2024. Together, these product lines offer a total of 9 variants. Ather operates the widest 2W fast charging network in the country. As of 30 September 2025, Ather has installed 4,322 Fast chargers and Neighbourhood chargers globally, including 4,282 across India and 40 across Nepal and Sri Lanka.
On a standalone basis, the company's revenue from operations rose 54% year-on-year and 39.45% quarter-on-quarter to Rs 898.9 crore in Q2 FY26. The company's loss after tax reduced to Rs -154.1 crore in Q2 FY26 from Rs -197.2 crore in Q2 FY25 and Rs -178.2 crore in Q1 FY26.
On the market front, Ather's share in India's EV two-wheeler market rose to 17.4%, up from 12.1% in Q2 FY25 and 14.3% in Q1 FY26.
Ather entered Sri Lanka in December 2024 with the Ather 450X and has since established a growing footprint with 40 Experience Centers, as on date, operated by Evolution Auto. Moreover, with an aim to establish the ecosystem around EVs, Ather has also installed Ather Grid fast chargers, to support convenient and reliable EV ownership in the country.
Volumes jumped sharply during the session. On the BSE, 24.93 lakh shares changed hands against a three-month average of 5.39 lakh shares. On the NSE, trading rose to 52.64 lakh shares, outpacing the three-month average of 44.09 lakh shares.
As of September 2025, NIIF II held 4.67% in Ather Energy.
Following the block trade, the stock touched a high of Rs 659.85 on the NSE, rising 4.9% in early deals.
Ather Energy designs and manufactures electric scooters. Its current E2W portfolio consists of the Ather 450 series, focused on performance-oriented customers, and the Ather Rizta, a convenience-first family scooter line launched in 2024.
On a standalone basis revenue from operations rose 54% year-on-year and 39.45% quarter-on-quarter to Rs 898.9 crore in Q2 FY26. The company's loss after tax reduced to Rs -154.1 crore in Q2 FY26 from Rs -197.2 crore in Q2 FY25 and Rs -178.2 crore in Q1 FY26.
The company's loss after tax reduced to Rs -154.1 crore in Q2 FY26 from Rs -197.2 crore in Q2 FY25 and Rs -178.2 crore in Q1 FY26.
EBITDA performance improved during the quarter, supported by cost discipline. Margins strengthened by over 1,100 bps year-on-year and 600 bps quarter-on-quarter to reach (10%). EBITDA losses narrowed to Rs -90.7 crore in Q2 FY26 as against Rs -124 crore in Q2 FY25.
Total expenditure increased 43% YoY and 32% QoQ to Rs 1,031.4 crore. The cost of materials consumed climbed 46% YoY to Rs 736.4 crore, while employee benefits expenses were up 3.7% YoY to Rs 114 crore. Depreciation remained stable at Rs 42.6 crore, and interest expense declined 32% YoY to Rs 20.8 crore.
Vehicle volumes jumped 67% YoY to 65,595 units, while non-vehicle revenue, comprising software subscriptions, charging services, spares, and accessories, contributed 12% of total income, underscoring Ather's ecosystem-led growth model.
On the market front, Ather's share in India's EV two-wheeler market rose to 17.4%, up from 12.1% in Q2 FY25 and 14.3% in Q1 FY26. The company maintained leadership in South India with a 25% market share, while Middle India emerged as the fastest-growing region at 14.6%, driven by rising adoption in Gujarat, Maharashtra, and Madhya Pradesh.
Tarun Mehta, executive director & CEO, Ather Energy, said, 'Q2 has been a strong quarter, with steady growth in market share and continued progress on our path to profitability. We saw continued improvement in EBITDA margin with improving operating leverage. Our strategic focus on Middle India has delivered results, with several states scaling up rapidly. The Rest of India has also grown strongly, making our expansion more broad-based. In the South, we continue to lead the market and are seeing a new growth story driven by a denser retail presence across key cities. The response to Rizta and our ongoing retail expansion pan-India have been key contributors to this momentum.'