Bengaluru: Ather Energy reported its strongest-ever financial and operational performance in FY26, driven by robust volume growth, expanding market share, and improved unit economics.
The company recorded total sales of 2,62,942 units in FY26, marking a 69% year-on-year increase, while Q4 volumes reached a record 83,418 units, up 76% YoY. This growth translated into total income of ₹3,823 crore for the year, up 66%, supported by strong demand and increased contribution from non-vehicle revenue streams such as software, charging, and services.
Ather’s Adjusted Gross Margin more than doubled to ₹925 crore in FY26, with margins improving to 24%. EBITDA losses narrowed significantly to ₹257 crore, with margins improving by ~1,630 basis points YoY, reflecting stronger operating leverage and disciplined cost management. In Q4 alone, EBITDA margins improved to (2.5%), a sharp ~2,080 bps YoY gain.
Growth was fueled by network expansion and product momentum, particularly from the family scooter Rizta. The company doubled its retail footprint to 700 experience centres and expanded service centres to ~548 locations. Its charging ecosystem also scaled to over 6,000 fast-charging points, strengthening customer convenience and adoption.
Commenting on the performance, Tarun Mehta said, “FY26 has been a fantastic year for us across volumes, market share, and financial performance. Rizta helped unlock a larger market, while our expanding retail network translated demand into strong growth and improved unit economics. With our new platform and investments in scale, we are well positioned for the next phase of growth.”
The company continues to focus on scaling operations, improving efficiency, and expanding its ecosystem to capture a larger share of India’s electric two-wheeler market.
