Ather Energy Limited (IN:ATHERENERG)
:ATHERENERG
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Ather Energy Limited
(ATHERENERG)
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Rating:57Neutral
Price Target:
₹970.00
▲(14.03% 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 increase in FY2026 signals meaningful demand pull and faster scale of core scooter sales. Sustained top-line expansion improves operating leverage potential, supports broader ecosystem monetization, and provides a foundation for long-term margin recovery if maintained.
Negative Factors
Profitability Deficit
Despite revenue gains and better gross margins, persistent deep negative operating and net margins indicate core cost structure and SG&A still outpace scaling benefits. Continued unprofitability risks ongoing dilution or constrained reinvestment if operating leverage does not materialize.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A ~140% revenue increase in FY2026 signals meaningful demand pull and faster scale of core scooter sales. Sustained top-line expansion improves operating leverage potential, supports broader ecosystem monetization, and provides a foundation for long-term margin recovery if maintained.
Read all positive factors
Ather Energy Limited (ATHERENERG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹347.87B
Dividend YieldN/A
Average Volume (3M)302.95K
Price to Earnings (P/E)―
Beta (1Y)1.23
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees1,617
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-9.31
Shares Outstanding382,673,160
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)-8.49
Revenue Forecast (FY)₹52.74B
Ather Energy Limited Business Overview & Revenue Model
Company Description
Ather Energy Limited, an electric vehicle company, engages in the design, development, and sale of electric two-wheelers, and associated product ecosystem. The company also offers vehicle architecture and chassis; battery packs and battery managem...
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 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 15.31B | 36.72B | 22.55B |
| Gross Profit | 2.51B | 1.20B | -2.28B |
| EBITDA | -2.19B | -4.08B | -5.33B |
| Net Income | -3.52B | -5.17B | -8.12B |
Balance Sheet | |||
| Total Assets | 44.43B | 47.22B | 245.57M |
| Cash, Cash Equivalents and Short-Term Investments | 27.01B | 13.75B | 48.10M |
| Total Debt | 4.30B | 6.64B | 89.13M |
| Total Liabilities | 17.22B | 21.49B | 187.58M |
| Stockholders Equity | 27.21B | 25.73B | 57.63M |
Cash Flow | |||
| Free Cash Flow | -4.81B | -4.39B | -130.65M |
| Operating Cash Flow | -1.95B | 671.70M | -91.02M |
| Investing Cash Flow | -17.71B | -26.47B | -48.82M |
| Financing Cash Flow | 22.56B | 25.81B | 93.55M |
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 | ₹994.04B | 17.64 | ― | 2.90% | 15.85% | 31.09% | |
70 Outperform | ₹2.92T | 22.81 | ― | 2.31% | 23.36% | 46.63% | |
69 Neutral | ₹1.88T | 35.30 | ― | 0.96% | 26.19% | 20.47% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | ₹347.87B | -53.82 | ― | ― | ― | ― | |
49 Neutral | ₹162.94B | -7.78 | ― | ― | ― | ― | |
49 Neutral | ₹1.60T | 52.95 | ― | 0.27% | 26.32% | 35.09% |
* Consumer Cyclical Sector Average
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Ather Energy Limited
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Ather Energy Limited Corporate Events
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...
Ather Energy Expands Equity Base with ESOP Share Allotment
Feb 27, 2026
Ather Energy Limited has allotted 40,735 equity shares of face value Rs. 1 each to eligible employees who exercised stock options under its Ather Energy ESOP 2025 Plan. These newly issued shares will rank pari passu with existing equity shares, re...
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.