Ather is energised

Ather Energy is currently the top gainer on the BSE, rising 14% to Rs. 1,448.80 at around 10 am on August 4, 2026. The stock gained Rs. 175.65 from its previous close of Rs. 1,273.15, opened at Rs. 1,332.25 and hit a fresh 52-week high of Rs. 1,500, as investors reacted to strong Q1 FY27 operating momentum, EBITDA turnaround and higher market share. Market depth, however, showed sell quantity of 1,13,918 against buy quantity of 44,898, indicating profit booking near higher levels after the sharp rally.

Trigger

• Q1 FY27 consolidated total income rose 87.2% YoY to Rs. 1,260 crore.
• Revenue from operations stood at Rs. 1,216.92 crore, up 89% YoY.
• Vehicles sold rose 81% YoY to around 83,000 units.
• Ather delivered 83,173 units during the quarter, up 80.5% YoY.
• Pre-orders grew 158% YoY to 1.5 lakh.
• Customer enquiries increased 95% YoY to 7.07 lakh.
• E2W market share improved to 16.8% from 14.2% a year earlier.
• Adjusted gross margin stood at Rs. 282 crore, up 82.3% YoY.
• EBITDA turned positive at around Rs. 9 crore against an EBITDA loss of Rs. 106 crore in Q1 FY26.
• EBITDA margin turned positive at around 1% compared with negative 16% a year earlier.
• Net loss narrowed sharply to Rs. 51 crore from Rs. 178 crore a year earlier.
• Non-vehicle revenue contribution rose to 14% from 13%.
• Factory 3.0 at AURIC remains on schedule.
• Phase 1 of the AURIC facility, with annual capacity of 5 lakh units, is expected to begin production in Q3 FY27.
• Ather plans to unveil its first production scooter on the new EL platform on August 29, 2026.

The market is reacting to the EBITDA turnaround. Ather is still loss-making, but the shift from a Rs. 106 crore EBITDA loss to positive EBITDA of around Rs. 9 crore is a major operating milestone. For EV companies, the Street watches the path to profitability more closely than headline losses, and this quarter shows that scale benefits are starting to flow through.

The second big positive is demand. Vehicle sales rose over 80%, pre-orders jumped 158%, and customer enquiries were up 95%, showing that demand continues to outpace supply. Market share improvement also supports the rally. Ather’s E2W share rose to 16.8% from 14.2%.

However, the profit-booking signal is worth noting. The stock hit a fresh 52-week high of Rs. 1,500 and market depth shows more sellers than buyers near current levels. This suggests that while the long-term story has improved, some investors are locking in gains after the sharp move.