Ather Energy (ATHERENERG) Q1 26/27 earnings summary

Executive summary

• EV industry transformation accelerated, with e-two-wheeler penetration rising to 11% and electric scooters exceeding 25% market share year-over-year.

• Q1 FY27 saw pre-orders up 158%, registrations up 102%, and 83,000 units sold, an 81% increase year-over-year.

• Revenue from operations for the quarter was ₹1,216.92 crore, up from ₹644.58 crore year-over-year.

• Net loss for the quarter narrowed to ₹51.09 crore (consolidated), down from ₹178.23 crore last year.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, were approved and reviewed without qualification by statutory auditors.

Financial highlights

• Revenue from operations grew 89% year-over-year to ₹1,216.92 crore.

• Adjusted gross margin was 22.4% in Q1 FY27, down from 25.4% in Q4 FY26.

• EBITDA turned positive at ₹9.45 crore (1% margin), compared to a loss of ₹105.97 crore (-16% margin) in Q1 FY26.

• Average sales price increased to INR 1.61 lakh, up from INR 1.5 lakh last quarter.

• Non-vehicle revenue rose to 14% of operating revenue, led by software and accessories.

Outlook and guidance

• Factory 3.0 (AURIC/Chhatrapati Sambhaji Nagar) to go live in Q3 FY27, doubling capacity from 4.2 lakh to 9.2 lakh units annually, with Phase II planned to add another 5 lakh units.

• EL scooter platform launch and production scheduled for August 2026, with capacity for 60,000 units/month.

• Price hikes and structural gains expected to offset commodity cost increases; Q2 margins anticipated to remain stable.

• Dealer expansion to resume post-capacity ramp-up, with new store openings after EL and AURIC go live.

• Post quarter-end, ₹1,300 crore was raised via QIP, with approval for up to ₹1,200 crore more through equity and convertible warrants.