Ather Energy
Ather Energy Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Scooters are expected to grow at twice the pace of the overall two-wheeler industry. Ather Energy is optimistic about near-term and midterm industry growth, especially in markets like MP, Punjab, Bihar, Kerala, and southern states, with expectations of strong double-digit growth post supply chain and GST stabilization.
From Ather Energy's Q2 FY26 earnings-call transcript · updated 26 Aug 2026.
Revenue & Sales Performance
- Scooters are expected to grow at twice the pace of the overall two-wheeler industry.
- Electric scooters projected to grow at 2x to 2.5x the growth rate of the overall scooter market, resulting in 4x to 5x growth compared to the total two-wheeler industry.
- Market maturity varies by region: mature markets like Tamil Nadu, Telangana, Andhra Pradesh show moderate/no recent growth due to shift towards mainstream buyers.
- Strong growth in emerging markets such as Madhya Pradesh (50-60% growth), Bihar, Punjab, Karnataka, and Kerala (around 17-30% growth).
- Underlying demand remains strong despite challenges like rare earth crisis and GST changes.
- Distribution-led expansion, especially in Middle India, is driving significant market share gains.
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Profitability & Margins
See what Ather Energy said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Ather Energy is building a new factory in Aurangabad ("Auric"), with work now in full swing after clearance delays.
- To protect EL platform timelines and avoid volume impact from the factory delay, production of EL will commence at the Hosur facility initially.
- The EL platform is designed for scalability and a better cost structure compared to existing models, aiming to improve operating leverage.
- EL launch is scheduled for next year and is expected to drive significant future growth and margin improvement.
- Continued investment in R&D for cost reduction, battery technology including LFP batteries, and software development (e.g., AtherStack 7.0).
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Top-ranked in Automobiles
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Ather Energy — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.2K Cr, net loss ₹100 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Ather Energy Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Ather Energy Q2 FY26 results?
Scooters are expected to grow at twice the pace of the overall two-wheeler industry. Ather Energy is optimistic about near-term and midterm industry growth, especially in markets like MP, Punjab, Bihar, Kerala, and southern states, with expectations of strong double-digit growth post supply chain and GST stabilization.
What is Ather Energy share price analysis?
Ather Energy currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹57,675 Cr. Investors should review the full earnings analysis for detailed insights.
Is Ather Energy planning capital expenditure?
Ather Energy is building a new factory in Aurangabad ("Auric"), with work now in full swing after clearance delays.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.