Ather Energy, one of India’s leading electric two-wheeler manufacturers, has delivered its strongest performance yet in FY26, riding on robust demand for its family-oriented Rizta scooter, aggressive retail expansion, and significant operational efficiencies.
The company sold 2,62,942 units during the financial year ended March 31, 2026, marking a 69% year-on-year (YoY) increase. This record volume helped Ather strengthen its position in the competitive electric two-wheeler (E2W) market, achieving an annual market share of approximately 18.6%.
Ather capped the year with its best-ever quarterly sales in Q4 FY26, dispatching 83,418 units — a 76% YoY surge. This strong finish reflects sustained momentum from new customer segments unlocked by the Rizta and expanded market reach.
Revenue from operations grew substantially, crossing the ₹1,000 crore mark for the quarter. Total income reached around ₹1,214 crore in Q4, up approximately 76% YoY, supported by higher volumes and a growing contribution from non-vehicle revenues such as software subscriptions, charging, accessories, and services.
Ather posted notable improvements in profitability metrics. EBITDA margins improved by around 1,630 basis points for the full year and 2,080 basis points in Q4 FY26. These gains stem from better unit economics, operating leverage from higher volumes, lower bill-of-materials costs, and improved product mix.
The company narrowed its net losses significantly. For FY26, net loss stood at approximately ₹517 crore compared to higher losses in the previous year. In Q4 alone, the net loss narrowed by about 57% YoY to around ₹100 crore
Key Growth Drivers
- Rizta Success: The family scooter has been a game-changer, tapping into a larger addressable market beyond premium performance-focused buyers. It now forms a significant portion of sales and has driven penetration into Middle India and other newer geographies.
- Retail Expansion: Ather nearly doubled its network to 700 Experience Centres, adding 100 outlets in Q4 alone. This, combined with over 6,000 charging points, has improved accessibility and customer experience.
- Geographic Diversification: Strong growth in non-South markets, with Middle India and Rest of India showing the fastest gains in market share. South India continued to lead with over 23% share in Q4.
Ather is investing in future growth with new platforms (such as the upcoming EL series) and capacity expansion. The company is preparing Factory 3.0, targeting a potential annual capacity of up to 10 lakh units. Management remains optimistic about sustaining momentum through product innovation, ecosystem expansion, and continued focus on profitability.
India’s electric mobility story accelerating, Ather Energy’s FY26 results underscore its emergence as a stronger, more scalable player focused on premium experience, technology, and sustainable profitability. The combination of volume growth and margin expansion positions the company well for the next phase of industry growth.
