Electric two-wheeler maker Ather Energy trimmed its quarterly net losses by 57% to Rs 100 crore in the January-March quarter (Q4FY26) compared to a net loss of Rs 234.36 crore in the fourth quarter of the previous fiscal (Q4FY25). The sharp reduction in losses coincided with high growth in revenue and volume.
Ather Energy’s revenue from operations for the reporting quarter stood at Rs 1,174.66 crore, up 74% from Rs 676.8 crore in Q4FY25. For the quarter ended March 31, 2026, Ather delivered volume of 83,418 units, up 76% year-on-year (y-o-y) supported by the expansion of its retail network to 700 Experience Centres with 100 additions during the quarter.
The stock on Monday closed marginally higher at Rs 937 a piece. The company had a market capital of around Rs 36,000 crore.
The adjusted gross margin for Q4FY26 showed a substantial improvement, expanding by 700 basis points to 25%, compared to 18% in Q4 FY25. EBITDA margin narrowed to (2.5%) in Q4 FY26, a 2,080 bps improvement Y-o-Y, with EBITDA loss of Rs 30 crore.
For the entire financial year FY26, the net loss stood at Rs 517.17 crore against a net loss of Rs 812.28 crore while revenue from operations was Rs 3,671.76 crore as compared to Rs 2,255.01 crore in the financial year ended March 2025. The company sold 2,62,942 units in FY26, up 69% year-on-year.
Tarun Mehta, Co-founder & CEO, Ather Energy, said, “FY26 has been a fantastic year for us across volumes, market share, and financial performance. Rizta helped us unlock a much larger addressable market, and with that, we expanded our retail network. That demand translated into strong volume growth and better unit economics.
He added. “With our new scooter platform, EL, we have the opportunity to replicate the same growth levers at potentially a larger scale, going after the biggest total addressable market in the Indian E2W segment. Coupled with that, our investments in Factory 3.0 at AURIC will give us the scale and efficiency to serve that demand and set us up for the next phase of growth.”
Ather's EBITDA losses reduced significantly in FY26 to Rs 257 crore from Rs 531 crore in FY25, with margin improving to (6.7%) from (23%), a 1,630 bps YoY improvement. This was driven by operating leverage and disciplined cost management, the electric vehicle company.
