Ather Shares Surge 9% To Hit Fresh All-Time High

Shares of EV major Ather Energy rallied 8.7% to hit an all-time high of INR 432.9 on the BSE today, defying the broader market downturn.

The stock later pared some gains, trading 5.61% higher at INR 418.75 on the BSE at 1:20 PM, taking the company’s market capitalisation to INR 15,596.75 Cr. A total of 51.8 Lakh shares changed hands during the session by then.

At this point, both benchmark indices, the Sensex and Nifty50, were trading 0.6% below at 80,133.25 and 24,420.15 points, respectively.

Since announcing its Q1 results on August 4, Ather’s stock has been on an upward run, climbing nearly 20% at the current market price.

In Q1 FY26, the company narrowed itsnet loss by 3% YoY and 24% QoQ to INR 178.2 Cr, while operating revenue surged over 79% to INR 644.6 Cr, compared to INR 360.5 Cr in Q1 FY25.

Ather’s all-time low of INR 287.3 recorded on May 7 2025, makes today’s all-time high 45.7% above that level.

It is vital to note that Ather was the first startup under the Inc42 radar to enter the public market in 2025. On May 6, its shares debuted on Indian exchanges, listing at a premium of 1.57% on the BSE and 2.18% on the NSE, compared to the IPO price band of INR 304 and INR 321 per share set by the company

Ather recorded a 97% YoY surge in Q1 FY26, selling 46,000 electric scooters, though sales dipped 3% QoQ. Revenue contribution from vehicle sales slipped marginally to 87%, compared to 89% in Q4 FY25 and 88% in Q1 FY25.

The average revenue per E2W dropped 10% to INR 1.22 Lakh from INR 1.35 Lakh in Q1 FY25.

Volume growth was also driven by the Ather Rizta, catering to the family scooter segment, launched in 2024. Alongside this, its other offerings include the Ather 450 Series with variants like the 450S, 450X and 450 Apex.

“We have had a phenomenal start to this financial year, led by Rizta’s success and a strong expansion of our retail footprint… Over the next quarters, there will be a larger footprint expansion in the northern markets. This quarter saw significant growth in our margins, demonstrating our strong focus on profitability. Even as we expand pan-India, our ASP has held steady, and our market share continues to grow,” said Ather CEO Tarun Mehta.

Ather registered 13,617 units in June, up 4.5% MoM and more than double the 6,216 units sold a year ago.

Founded in 2013 as an IIT Madras incubated startup, Ather is an escooter original equipment manufacturer (OEMs) in India, competing with Ola Electric, Bajaj Auto, TVS Motor, Hero MotoCorp, Honda and others.

Having secured market share leadership in southern India, Ather is now expanding aggressively across the country, especially in the north. In Q1 FY26, it opened 95 new experience centres, nearly 10x from 10 added in the same quarter last year.

The company is also introducing multiple retail formats tailored to different city tiers to lower breakeven volumes and improve efficiency.

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