Ather Energy hit an all-time high during the intraday trading today, surging over 5% to touch INR 622 on the BSE
The company’s market capitalisation stood at INR 23,616.23 Cr and over 39 Lakh shares changed hands today
Ather said it rolled out its 5,00,000th escooter since inception and credited its flagship model, Rizta as the key growth driver behind the milestone
Shares of electric two-wheeler maker Ather Energy
hit an all-time high during the intraday trading today, surging over 5% to touch INR 622 on the BSE.
The stock gave up some of the gains to end the session 4.85% higher at INR 620.95 on the BSE. The company’s market capitalisation stood at INR 23,616.23 Cr (about $2.65 Bn) and over 39 Lakh shares changed hands today.
Meanwhile, Ather’s rival Ola Electric’s shares slipped 2.54% to INR 52.60 on the BSE today.
Earlier today, Ather said it rolled out its 5,00,000th escooter since inception. The company credited its flagship model, Rizta (launched last year), as the key growth driver behind the milestone.
Notably, Ather overtook Ola Electric to take the third spot among electric two-wheeler (E2W) makers in terms of registrations in September. Ather saw registration of 16,558 E2W units during the month, while Ola Electric saw a 35% decline MoM in registrations to 12,223 units.
TVS Motor and Bajaj Auto retained the first and second positions with registration of 21,052 units and 17,972 units, respectively, last month.
Founded in 2013 by Jain and Tarun Mehta, Ather currently operates two manufacturing facilities in Hosur, Tamil Nadu, one each for vehicle assembly and battery production.
The Hosur facility has a manufacturing capacity of 4.2 Lakh scooters a year. To meet growing demand, Ather is setting up its third manufacturing facility in Chhatrapati Sambhajinagar in Maharashtra.
The third factor will increase Ather’s cumulative installed capacity to 1.42 Mn electric two-wheelers annually.
On the financial front, Ather trimmed its net loss 3% YoY to INR 178.2 Cr in Q1 FY26 from INR 182.9 Cr in the same quarter last year. Revenue zoomed over 79% to INR 644.6 Cr from INR 360.5 Cr in Q1 FY25.
Last month, Ather said that it has decided to defer the submission of claims for demand incentives to the tune of INR 26.2 Cr under the Centre’s PM E-DRIVE scheme due to rare earth magnet shortage.
