- Ather Energy's FY26 volumes rose 69% to 262,942 units, its strongest annual performance
- Q4 FY26 volumes hit a record 83,418 units, up 76% year-on-year
- Retail network doubled to 700 centres; charging points expanded to 6,000+
Ather Energy delivered its strongest-ever annual performance in FY26, with volumes reaching 2,62,942 units, up 69% year-on-year. The company closed the year on a high note, recording its best-ever quarterly volumes of 83,418 units in Q4 FY26, up 76% YoY. EBITDA margins improved by approximately 1,630 basis points for the full year and 2,080 basis points in Q4, driven by better unit economics and operating leverage.
Growth through the year was supported by geographic expansion, a wider retail presence, and strong demand for Rizta, Ather's family scooter. The company doubled its retail network to 700 Experience Centres by the end of FY26, up from 351 in FY25. The service network grew in tandem to around 548 centres, nearly twice the FY25 footprint. Ather's charging infrastructure also expanded, with customers now accessing over 6,000 charging points through LECCS, making it the largest fast-charging network for two-wheelers in India.
Rizta played a meaningful role in Ather's market share gains across regions. Market share in Middle India rose to 17.3% in Q4 FY26 from 9.5% a year ago, while Rest of India grew to 12.1% from 6.5% in Q4 FY25. South India remained the company's strongest market, with a 23.5% share in Q4 FY26.
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For the full year, Ather reported total income of Rs 3,823 crore, up 66% YoY. Non-vehicle revenue - covering software subscriptions, charging, accessories, spares, and service - rose to 13% of total income, reflecting broader ecosystem engagement. Adjusted Gross Margin reached Rs 925 crore, up 116% YoY, with margin improving to 24% of total income, up around 500 basis points. EBITDA losses narrowed to Rs 257 crore from Rs 531 crore in FY25, with margin improving to (6.7%) from (23%). Net loss for the year reduced to Rs 517 crore from Rs 812 crore in FY25.
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In Q4 FY26, total income stood at Rs 1,214 crore, up 76% YoY. Adjusted Gross Margin expanded to 25%, up around 700 basis points from 18% in Q4 FY25. EBITDA loss narrowed to Rs 30 crore, with margin at (2.5%). Notably, 93% of Q4 customers opted for AtherStack Pro, reflecting strong uptake of Ather's software offerings.