Electric two-wheeler manufacturer Ather Energy reported net loss of ₹100.2 crore in the quarter ended March 2026, compared with a net loss of ₹234.4 crore in the previous quarter ended March 2025.
Operational Efficiency
Revenue from operations rose to ₹1,174.7 crore in Q4 FY26 from ₹676.1 crore in Q4 FY25, driven by strong demand for electric vehicles in the country. The Bengaluru-headquartered firm sold around 83,000 units during the quarter, up 75% year-on-year.
EBITDA losses narrowed sharply to ₹257 crore in FY26 from ₹531 crore in FY25, reflecting a margin improvement of about 1,630 basis points. In Q4 alone, EBITDA margin stood at (2.5%), improving nearly 2,080 basis points year-on-year, bringing the company closer to operational breakeven.
For the full year, the net loss stood at ₹517.2 crore in FY26, compared with ₹812.3 crore in FY25. Revenue reached ₹3,671.8 crore, up from ₹2,255.0 crore in FY25. Annual sales volumes rose 69% year-on-year to about 2,63,000 units.
The electric scooter maker expanded its store network from 351 to 700 outlets by March 2026, while also more than doubling its service centres as it scaled distribution across key markets.
Strategic Expansion
Ather Energy is betting on its upcoming EL platform to widen its addressable market, with the first model expected around the festival season this year. Production will be supported by a new factory, which is expected to begin operations before year-end.
The new plant in Aurangabad is expected before the end of 2026 and its expected to start with a monthly capacity of about 42,000 units, adding to the company’s existing manufacturing base in Hosur as it prepares for its next phase of growth.
The EL platform marks a shift for Ather as it looks to enter lower price segments where it currently has no presence. “Our understanding is that the mass segment of ₹1–1.25 lakh is the largest chunk of the EV market today… and with EL, we are particularly targeting this segment,” co-founder Tarun Mehta said during a post-earnings call.