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Ather Energy stock climbs as Konarc launch and capacity plans loom
Ather said operating revenue rose 89% year-on-year to ₹1,217 crore in the June quarter, while its EBITDA loss narrowed to ₹33 crore as dealer inventory fell to about three days.
Ather Energy’s shares have climbed nearly 30% over the past month, pushing its one-year return to about 230%, as investors weigh progress toward profitability, a new mass-market scooter launch, and expanded capacity plans. LiveMint Markets notes the June quarter, or Q1FY27, showed operating revenue up 89% year-on-year to ₹1,217 crore, while its EBITDA loss excluding other income narrowed to ₹33 crore from ₹134 crore a year earlier. EBITDA turned positive when other income was included.
The improvement in losses reflected operating leverage as volumes scaled, and retail demand outpaced wholesale dispatches. LiveMint Markets reports retail registration rose 102% year-on-year, ahead of 81% growth in wholesale registrations, which reduced dealer inventory from 14 days to about three days.
However, growth has cooled, with registrations slowing in August. LiveMint Markets says Ather registered 28,757 units, up 49% year-on-year, the third straight month of slowing growth, while market share improved from July’s 14.9% to 15.7% but remained below 17.5% in August 2025, according to Kotak Institutional Equities.
Competition makes Ather’s next product, the Konarc scooter, especially important. LiveMint Markets says Konarc was launched on 29 August with an ex-showroom price of ₹99,999, aimed at the ₹1 lakh to ₹1.2 lakh segment that management estimates accounts for 45% to 55% of the e-scooter market, with deliveries scheduled to begin in September. The company also plans to expand its retail footprint to 1,800 to 2,000 stores over the next two years and add 500,000 units of annual capacity at its Chhatrapati Sambhajinagar plant by the end of this year.