| Metric | Value (₹ Cr) | vs Q2 FY26 |
|---|---|---|
| Revenue | 953.60 | 6.1% |
| Total Income | 995.70 | 5.8% |
| Expenditure | 1.1K | 1.8% |
| PBT | -84.60 | 45.1% |
| Net Profit | -84.60 | 45.1% |
| OPM | -8.07% | 6.67pp |
| NPM | -8.50% | 7.88pp |
| EPS | 2.22 | 44.5% |
Ather Energy posts highest ever revenue of INR 995.7 Crore in Q3 FY26; EBITDA improves by 1,600 bps YoY to (-3%)
02 Feb 2026 · 2 Feb, 4:55 pm
Summary
Ather Energy, one of India’s leading electric two-wheeler manufacturers, delivered its strongest-ever quarter performance, with robust growth in market share and revenue alongside a sharp narrowing of EBITDA losses. The performance was driven by geographic expansion, portfolio depth, and non-vehicle revenue led by software offerings.
Key Highlights
- 1
Total income of ¥995.7 crore, up 53% YoY
- 2
Adjusted Gross Margin (AGM) reached %251.3 crore in Q3 FY26, up 111% YoY
- 3
EBITDA margin narrowed significantly to (-3%)
- 4
Pan-India market share of 18.8%
- 5
Highest-ever monthly registrations of 30.9k units, translating to a 20% market share
- 6
South India remained Ather’s strongest region, retaining leadership with a 24.4% market share
- 7
Middle India continued its upward trajectory, with market share almost doubling to 17.4% from 8.8% in Q3 FY25
- 8
In the Rest of India, market share rose to 12.6%
Management Comments
Tarun Mehta
Executive Director & CEO, Ather Energy
Q3 has been a strong quarter for us. Robust festive demand, healthy volume growth, and improving market share together drove our best quarterly revenue and EBITDA so far. Over the past few quarters, we have stayed very focused on getting the fundamentals right by improving unit economics, margins, and operating leverage, and that effort is now clearly showing in the improvement in EBITDA. What is particularly encouraging is the strength of our ecosystem. AtherStack attach rates remain very high, and customer engagement is deepening even as our sales scale. All of this gives us confidence that the business is structurally prepared for sustainable, long-term growth.
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