NSE: ATHERENERG · BSE: 544397 · ISIN INE0LEZ01016
Ather Energy Limited stock analysis
Ather Energy Limited ranks #2409 in the TickerSutra evidence-ranked universe with a score of 46/100 and 89% data confidence. The latest captured fundamentals show ROCE of -19.8%, quarterly sales growth of 88.8% and quarterly profit growth of 71.5%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.26×
- 27.3% three-year sales CAGR
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- CFO/EBITDA is below 0.6×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹408cr | ₹-260cr | ₹-344cr | -64.0% |
| 2023 | ₹1,781cr | ₹-708cr | ₹-864cr | -40.0% |
| 2024 | ₹1,754cr | ₹-685cr | ₹-1,060cr | -39.0% |
| 2025 | ₹2,255cr | ₹-581cr | ₹-812cr | -26.0% |
| 2026 | ₹3,672cr | ₹-408cr | ₹-517cr | -11.0% |
| TTM | ₹4,244cr | ₹-307cr | ₹-390cr | -7.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Ather Energy Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineAcquisition of 'to be incorporated companies'-XBRLNSE · 21 Sept 2026 · Structured filingAther Energy Limited has informed the Exchange regarding Acquisition of to be incorporated companies
Ather Energy Limited has informed the Exchange regarding Acquisition of to be incorporated companies
Open original XBRL sourceWe write with reference to our earlier intimation dated February 02, 2026 , wherein the Company had informed about the decision of the Board of Directors to incorporate a Wholly Owned Subsidiary ....
RoutineGeneral UpdatesNSE · 21 Sept 2026Ather Energy Limited has informed the Exchange about incorporation of a Wholly Owned Subsidiary (WOS) in Hong Kong
RoutineOptions to purchase securities ESOPS (Sub-para 10-Para B)NSE · 19 Sept 2026 · Structured filingATHER ENERGY LIMITED has informed the Exchange about Options to purchase securities ESOPS (Sub-para 10-Para B)
ATHER ENERGY LIMITED has informed the Exchange about Options to purchase securities ESOPS (Sub-para 10-Para B)
Open original XBRL sourceMANAGEMENT COMMENTARY
Signals from filed documents
The current commodity crisis has definitely pushed us again, which reflects in how we have been able to navigate pricing. Happy to report that our teams have been able to dr ive very strong success on both added sales price increase and improved SKU. The average sales price of Ather has now hit Rs.
So this is the structural gain that we have gotten out of this entire episode. Obviously, more than canceling it out, is the near-term commodity inflation that we are dealing with, which led to a 5.6% drop in gross margins. Net it out, we have landed up at 22.4% AGM for Q1 2027.
Is this a new baseline and then EL helps us? Because I think when the new capacity comes in, these costs will go up, right? Before the new capacit y comes up, is this the new baseline, or was this quarter something exceptional that you did to control the costs which can go up in the future?
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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