Ather Energy Limited (IN:ATHERENERG)
:ATHERENERG
Want to see IN:ATHERENERG full AI Analyst Report?
Top Page
Ather Energy Limited
(ATHERENERG)
Select Model
Select Model
Rating:57Neutral
Price Target:
₹1,025.00
▲(20.50% Upside)
Action:N/A
Date:05/06/26
The score is driven by strong technical momentum (price above key moving averages with positive MACD). Financials remain the main constraint: despite rapid revenue growth and improved leverage, the company is still loss-making with materially negative free cash flow, and valuation is pressured by a negative P/E.
Positive Factors
Revenue Growth
A ~140% revenue acceleration shows durable demand traction and scale opportunity across Ather's product and service ecosystem. Sustained top-line growth supports unit cost dilution, gives management room to invest in distribution and R&D, and underpins a credible path to improved margins if growth quality persists.
Negative Factors
Persistent Operating Losses
Despite revenue growth, deeply negative operating and net margins mean the business still consumes capital to run. Structural profitability remains unmet, leaving the firm reliant on scale or cost restructurings to convert revenue into sustainable profit. Continued losses can erode investor confidence and limit reinvestment capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A ~140% revenue acceleration shows durable demand traction and scale opportunity across Ather's product and service ecosystem. Sustained top-line growth supports unit cost dilution, gives management room to invest in distribution and R&D, and underpins a credible path to improved margins if growth quality persists.
Read all positive factors
Ather Energy Limited (ATHERENERG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹372.28B
Dividend YieldN/A
Average Volume (3M)302.95K
Price to Earnings (P/E)―
Beta (1Y)1.01
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees1,617
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-15.60
Shares Outstanding383,120,970
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 Target
₹994.00Price Target Upside16.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-10.31
Revenue Forecast (FY)₹52.64B
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 | TTM | Mar 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.07B | 36.72B | 22.55B | 17.51B | 17.80B | 4.08B |
| Gross Profit | -2.22B | 1.20B | -2.28B | 836.00M | 1.56B | 225.00M |
| EBITDA | -3.79B | -4.08B | -5.33B | -8.27B | -6.89B | -2.56B |
| Net Income | -5.86B | -5.17B | -8.12B | -10.60B | -8.64B | -3.44B |
Balance Sheet | ||||||
| Total Assets | 44.43B | 47.22B | 21.01B | 19.14B | 19.77B | 8.19B |
| Cash, Cash Equivalents and Short-Term Investments | 27.01B | 13.75B | 4.11B | 6.54B | 3.69B | 947.00M |
| Total Debt | 4.30B | 6.64B | 7.62B | 4.78B | 6.72B | 3.65B |
| Total Liabilities | 17.22B | 21.49B | 16.04B | 13.68B | 13.63B | 5.94B |
| Stockholders Equity | 27.21B | 25.73B | 4.93B | 5.46B | 6.14B | 2.25B |
Cash Flow | ||||||
| Free Cash Flow | -5.60B | -4.39B | -11.18B | -4.34B | -10.03B | -3.36B |
| Operating Cash Flow | -1.99B | 671.70M | -7.79B | -3.18B | -8.71B | -2.64B |
| Investing Cash Flow | -18.39B | -26.47B | -4.18B | -2.54B | -1.35B | -96.00M |
| Financing Cash Flow | 21.53B | 25.81B | 8.00B | 7.10B | 13.17B | 2.69B |
Ather Energy Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹995.36B | 17.50 | ― | 2.90% | 15.85% | 31.09% | |
71 Outperform | ₹2.09T | 37.80 | ― | 0.96% | 24.04% | 16.40% | |
70 Outperform | ₹2.81T | 26.20 | ― | 2.31% | 23.36% | 46.63% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | ₹372.28B | -71.69 | ― | ― | ― | ― | |
50 Neutral | ₹195.69B | -10.20 | ― | ― | -50.09% | 19.13% | |
49 Neutral | ₹1.64T | 54.42 | ― | 0.27% | 26.32% | 35.09% |
* Consumer Cyclical Sector Average
IN:ATHERENERG
Ather Energy Limited
960.80
643.10
202.42%
IN:BAJAJ.AUTO
Bajaj Auto Limited
10,198.30
2,027.87
24.82%
IN:EICHERMOT
Eicher Motors Limited
7,632.75
2,150.85
39.24%
IN:HEROMOTOCO
Hero Motocorp Limited
4,985.05
875.74
21.31%
IN:OLAELEC
Ola Electric Mobility Limited
42.54
-0.78
-1.80%
IN:TVSMOTOR
TVS Motor Company Limited
3,487.35
716.49
25.86%
Ather Energy Limited Corporate Events
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...
Ather Energy Allots 297,012 Equity Shares Under ESOP, Expands Paid-Up Capital
Mar 30, 2026
Ather Energy Limited has allotted 297,012 equity shares of face value Rs. 1 each to eligible employees who exercised stock options under the Ather Energy ESOP 2025 Plan. The newly issued shares will rank pari passu with the company’s existin...
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.