Ather Energy
Financial Performance
Ather Energy Revenue & Financials
Revenue
~$425.9M (FY2026)
Market Cap
$5.9B
Employees
1,617
What is Ather Energy's revenue?
Ather Energy had ~$425.9M in revenue for fiscal year 2026, up 62.8% from 2025. It reported a net loss of ~$60M.
- Latest revenue
- ~$425.9M (FY2026)
- Year-over-year
- +62.8%
- Growth rate (CAGR)
- 163.2% over 7 years
- Peak revenue
- ~$425.9M (FY2026)
- Years of data
- 8
- Employees
- 1,617
- How much profit does Ather Energy make?
- Ather Energy reported a net loss of ~$60M for fiscal year 2026. auto.economictimes.indiatimes.com
- How many employees does Ather Energy have?
- Ather Energy has about 1,617 employees.
Financial Analysis
Ather's revenue has grown from ~$487,200 (INR 4.2 Cr) in FY2019 to ~$426M (INR 3,672 Cr) in FY2026, and losses have started to shrink rather than widen: the net loss peaked at ~$123M (INR 1,059.7 Cr) in FY2024, fell to ~$94.2M (INR 812.3 Cr) in FY2025 and to ~$60M (INR 517.2 Cr) in FY2026. Gross margin reached 21.1 percent in FY2026. The quarter ended 30 June 2026 produced revenue of ~$141 million (INR 1,216.9 crore), up 89 percent year on year, a net loss of ~$5.93 million (INR 51.1 crore) and EBITDA of ~$1.1 million (INR 9.45 crore), the company's first positive EBITDA quarter. Funding has come from Hero MotoCorp, NIIF, GIC, Caladium, the India-Japan Fund and, until its exit in November 2025, Tiger Global, plus the ~$346 million (INR 2,981 crore) May 2025 IPO and a ~$139 million (INR 1,200 crore) preferential issue in July 2026. Capital expenditure remains heavy: free cash flow was negative ~$55 million (INR 474 crore) in FY2026 while the Bidkin factory was being built. Ather Energy is one of India's most prominent electric vehicle startups, reaching a private market valuation of over $1 billion (unicorn status).
Revenue Trend Analysis
YoY Change
+62.8%
7-Year CAGR
+163.2%
Peak Year
2026
Trend
Consistent Growth
Ather Energy has 8 full fiscal year figures on this page, compounding at +163.2% annually over 7 years. The most recent year saw a 62.8% increase versus the prior year. Annual revenue peaked in fiscal year 2026 at ~$425.9M. Of 7 comparable year-over-year steps, 6 showed growth and 1 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2026 | ~$425.9M | -~$60M | +62.8% | Ather Energy Limited FY26 results, reported by ETAuto Fiscal year ended 2026-03-31. Revenue from operations up 63 percent to ~$426M (INR 3,672 Cr); net loss narrowed to ~$60M (INR 517 Cr) from ~$94.2M (INR 812 Cr). |
| FY2025 | ~$261.6M | -~$94.2M | +28.6% | Ather Energy (NSE:ATHERENERG) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2025-03-31. |
| FY2024 | ~$203.4M | -~$122.9M | -1.7% | Ather Energy (NSE:ATHERENERG) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2024-03-31. |
| FY2023 | ~$206.9M | -~$100.3M | +336.6% | Ather Energy (NSE:ATHERENERG) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2023-03-31. |
| FY2022 | ~$47.4M | -~$39.9M | +411.9% | Ather Energy (NSE:ATHERENERG) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2022-03-31. |
| FY2021 | ~$9.3M | -~$27.1M | +126.1% | Entrackr, on Ather Energy regulatory filings Fiscal year ended 2021-03-31. Operating revenue of ~$9.26M (INR 79.8 Cr) and a net loss of ~$27.1M (INR 233.3 Cr). |
| FY2020 | ~$4.1M | -~$25.5M | +740.5% | Inc42, on Ather Energy regulatory filings Fiscal year ended 2020-03-31. Operating revenue of ~$4.09M (INR 35.3 Cr) and a net loss of ~$25.5M (INR 219.9 Cr) on 3,007 scooters sold. |
| FY2019 | ~$487,200 | -~$12.5M | — | Inc42, on Ather Energy regulatory filings Fiscal year ended 2019-03-31. Operating revenue of ~$487,200 (INR 4.2 Cr) and a net loss of ~$12.5M (INR 107.5 Cr), the first year the Ather 450 was on sale. |
Click any row to see year details.
Keep researching Ather Energy
Ather Energy Revenue and Financial FAQ
What is Ather Energy's annual revenue?
Ather reported revenue from operations of ~$426M (INR 3,672 Cr) in FY2026, up 63 percent from ~$262M (INR 2,255 Cr) in FY2025, on 262,942 vehicles sold. Trailing twelve-month revenue to June 2026 was ~$492M (INR 4,244 Cr).
Is Ather Energy profitable?
Not yet at the net level, but losses are shrinking. The net loss fell from ~$123M (INR 1,059.7 Cr) in FY2024 to ~$94.2M (INR 812.3 Cr) in FY2025 and ~$60M (INR 517.2 Cr) in FY2026. The quarter to June 2026 produced EBITDA of ~$1.1 million (INR 9.45 crore), Ather's first positive EBITDA quarter, with a net loss of ~$5.93 million (INR 51.1 crore).
What is Ather Energy's market capitalisation?
Ather's market capitalisation was about $6.56 billion (INR 56,516 crore), or roughly USD 5.9 billion, on 30 September 2026, with the share at INR 1,425 and 396.6 million shares outstanding. The 52-week range was INR 556.50 to INR 1,744.
What did Ather raise in its IPO?
Ather's IPO totalled ~$346 million (INR 2,981.06 crore), including a fresh issue of 9.29 crore shares, priced at INR 321 per share. The stock listed on the NSE and BSE on 6 May 2025.
How are Ather's gross margins trending?
Gross margin rose from 4.1 percent in FY2022 to 8.8 percent in FY2023, 7.0 percent in FY2024, 16.8 percent in FY2025 and 21.1 percent in FY2026, helped by localisation, shared architecture between the 450 series and Rizta, and lower battery costs.
How much capital has Ather raised?
Ather raised repeatedly before listing, including USD 1 million from Sachin and Binny Bansal in 2014, USD 12 million from Tiger Global in 2015, ~$20.9 million (INR 180 crore) from Hero MotoCorp in 2016, USD 51 million in 2019, USD 128 million in May 2022 led by NIIF and Hero MotoCorp, USD 50 million from Caladium, ~$104 million (INR 900 crore) from Hero MotoCorp and GIC in 2023 and USD 71 million from NIIF in 2024. It added ~$139 million (INR 1,200 crore) through a preferential issue in July 2026.
What is Ather's cash position?
Ather held ~$289 million (INR 2,489 crore) of cash and investments against ~$77 million (INR 664 crore) of total debt at the end of FY2026, a net cash position of ~$212 million (INR 1,825 crore). Capital expenditure was ~$58.7 million (INR 506 crore) that year, largely on the Bidkin factory.
How much of Ather does Hero MotoCorp own?
Hero MotoCorp held 29.88 percent on a fully diluted basis as of 25 August 2026 and agreed to buy up to $204 million (INR 1,758 crore) of additional shares from another holder, taking it to roughly 32.8 percent on completion by 3 September 2026.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Ather Energy Revenue & Financials." CorpDigest, https://corpdigest.com/company/ather-energy/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Ather Energy reported ~$425.9M in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/ather-energy/financials" target="_blank" rel="noopener">CorpDigest — Ather Energy financials</a></div>Related Financial Audits
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