Want to see IN:ATHERENERG full AI Analyst Report?
Top Page
Ather Energy Limited
(ATHERENERG)
Select Model
Select Model
Rating:52Neutral
Price Target:
₹1,311.00
▲(54.12% Upside)
Action:Reiterated
Date:07/16/26
The score is held back primarily by weak financial performance—persistent losses and materially negative free cash flow despite rapid revenue growth—while technicals are strong but overbought. Valuation provides limited support due to the negative P/E.
Positive Factors
Rapid revenue scaling
Sustained ~140% YoY revenue acceleration signals durable market demand and successful go-to-market execution. Over the next 2-6 months this larger revenue base should improve operating leverage, support supplier negotiating power, and provide a platform for monetizing services and charging ecosystem.
Negative Factors
Persisting operating losses
Despite revenue gains, deeply negative operating and net margins indicate core cost structure still outpaces scale benefits. Over 2-6 months this constrains the company's ability to become self-funding and requires continued cost control or margin expansion to avoid chronic profitability shortfalls.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid revenue scaling
Sustained ~140% YoY revenue acceleration signals durable market demand and successful go-to-market execution. Over the next 2-6 months this larger revenue base should improve operating leverage, support supplier negotiating power, and provide a platform for monetizing services and charging ecosystem.
Read all positive factors
Ather Energy Limited (ATHERENERG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹497.54B
Dividend YieldN/A
Average Volume (3M)302.95K
Price to Earnings (P/E)―
Beta (1Y)1.05
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees1,617
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-8.84
Shares Outstanding383,310,000
10 Day Avg. Volume370,280
30 Day Avg. Volume302,947
Financial Highlights & Ratios
PEG Ratio1.50
Price to Book (P/B)10.82
Price to Sales (P/S)7.58
P/FCF Ratio-63.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-11.75
Revenue Forecast (FY)₹53.37B
Ather Energy Limited Business Overview & Revenue Model
Company Description
Ather Energy Limited is an innovative electric vehicle manufacturer focused on the full lifecycle of electric two-wheelers, from conceptual design and engineering to market distribution, alongside an integrated product ecosystem. Its comprehensive...
How the Company Makes Money
Ather Energy’s primary revenue stream is the sale of electric scooters to customers through its distribution network. Beyond vehicle sales, the company monetizes the ownership ecosystem through ancillary offerings tied to the product, including ch...
Ather Energy Limited Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
55
Neutral
Cash Flow
24
Negative
| Breakdown | Mar 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 36.72B | 22.55B | 17.51B | 17.80B | 4.08B |
| Gross Profit | 1.20B | -2.28B | 836.00M | 1.56B | 225.00M |
| EBITDA | -2.62B | -5.33B | -8.27B | -6.89B | -2.56B |
| Net Income | -5.17B | -8.12B | -10.60B | -8.64B | -3.44B |
Balance Sheet | |||||
| Total Assets | 47.22B | 21.01B | 19.14B | 19.77B | 8.19B |
| Cash, Cash Equivalents and Short-Term Investments | 13.75B | 4.11B | 6.54B | 3.69B | 947.00M |
| Total Debt | 6.64B | 7.62B | 4.78B | 6.72B | 3.65B |
| Total Liabilities | 21.49B | 16.04B | 13.68B | 13.63B | 5.94B |
| Stockholders Equity | 25.73B | 4.93B | 5.46B | 6.14B | 2.25B |
Cash Flow | |||||
| Free Cash Flow | -4.39B | -11.18B | -4.34B | -10.03B | -3.36B |
| Operating Cash Flow | 671.70M | -7.79B | -3.18B | -8.71B | -2.64B |
| Investing Cash Flow | -26.47B | -4.18B | -2.54B | -1.35B | -96.00M |
| Financing Cash Flow | 25.81B | 8.00B | 7.10B | 13.17B | 2.69B |
Ather Energy Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹975.82B | 17.07 | ― | 2.90% | 15.85% | 31.08% | |
71 Outperform | ₹2.03T | 36.89 | ― | 0.96% | 24.04% | 16.40% | |
70 Outperform | ₹2.88T | 26.86 | ― | 2.31% | 23.36% | 46.60% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹497.54B | -91.55 | ― | ― | ― | ― | |
49 Neutral | ₹1.72T | 56.06 | ― | 0.27% | 26.32% | 35.10% | |
46 Neutral | ₹188.10B | -9.34 | ― | ― | -50.09% | 19.13% |
* General Sector Average
IN:ATHERENERG
Ather Energy Limited
1,264.65
914.55
261.23%
IN:BAJAJ.AUTO
Bajaj Auto Limited
10,329.45
2,116.96
25.78%
IN:EICHERMOT
Eicher Motors Limited
7,414.80
1,837.98
32.96%
IN:HEROMOTOCO
Hero Motocorp Limited
4,896.85
601.25
14.00%
IN:OLAELEC
Ola Electric Mobility Limited
39.93
-2.23
-5.29%
IN:TVSMOTOR
TVS Motor Company Limited
3,565.00
696.53
24.28%
Ather Energy Limited Corporate Events
Ather Energy Files FY26 Audited Results With NSE and BSE
Jul 15, 2026
Ather Energy Limited has announced that its board approved the audited financial statements for the year ended March 31, 2026, at a meeting held on May 4, 2026, along with comparative figures for the previous financial year prepared under Indian a...
Ather Energy Grants Over 6.2 Lakh ESOPs Under 2025 Plan
Jun 23, 2026
Ather Energy Limited has granted 624,630 employee stock options under its Ather Energy ESOP 2025 plan, following approval by the Nomination and Remuneration Committee on June 23, 2026. The options, each convertible into one equity share with a fac...
Ather Energy Schedules Mumbai Investor and Analyst Meetings for Late June
Jun 21, 2026
Ather Energy Limited has announced that it will hold a series of one-on-one and group meetings with investors and analysts in Mumbai from June 24 to June 26, 2026, conducted in both physical and virtual formats. The company emphasized that discuss...
Ather Energy Expands Share Capital with ESOP Equity Allotment
May 30, 2026
Ather Energy Limited has allotted 138,434 equity shares with a face value of INR 1 each to eligible employees who exercised stock options under the Ather Energy ESOP 2025 Plan. The new shares will rank pari passu with existing equity, reflecting t...
Ather Energy Board Clears FY26 Results and Reappoints Deloitte as Auditor
May 4, 2026
Ather Energy Limited reported its audited financial statements for the quarter and full year ended March 31, 2026, which were approved by the board of directors at a meeting on May 4, 2026. The statutory auditors, Deloitte Haskins Sells, issued a...
Ather Energy Reappoints Deloitte Haskins & Sells as Statutory Auditor for Second Five-Year Term
May 4, 2026
Ather Energy Limited has reaffirmed its existing audit framework by approving the re-appointment of Deloitte Haskins Sells as its statutory auditors for a second five-year term, starting from the 2026-27 financial year through 2030-31. The decisi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.