Ather Energy Limited
NSE: ATHERENERG · 2/3 Wheelers · sector
₹1,575.00NSE close 2026-10-26
Key numbers
Market cap₹60,338 cr
Price₹1,575.00
52w high / low₹1,744 / ₹582
P/E–Sector median 33.7x
P/B23.4xSector median 7.2x
Book value₹67.2
Dividend yield–Sector median 1.54%
ROE-25.4%Sector median 24.9%
ROCE-10.1%Sector median 18.7%
OPM-7.4%Sector median 11.3%
Debt / equity0.20xSector median 0.57x
EV/EBITDA–Sector median 19.8x
Interest cover-3.9x
Current ratio2.42x
Sales growth 3y–Sector median +17.5%
Profit growth 3y–Sector median +23.7%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 9 companies in 2/3 Wheelers (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1,375 cr vs borrowings ₹513 cr (FY26): cash is higher (net cash).
- Operating profit covered interest -3.9x in the last 12 months.
- Promoter holding rose by 1.11 percentage points in a year, to 42.33% (2026-09-30).
- Net loss in 6 of the last 6 quarters.
- No dividend in the last 2 financial years.
- Price ₹1,575.00 on 2026-10-26: -9.7% from the 52-week high, +170.6% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,686.10 · low ₹302.30
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|
| Revenue | 676 | 645 | 899 | 954 | 1,175 | 1,217 |
| EBITDA | -172 | -134 | -132 | -77 | -70 | -33 |
| OPM % | -25.5% | -20.8% | -14.7% | -8.1% | -5.9% | -2.7% |
| Other income | 12 | 28 | 42 | 42 | 39 | 43 |
| Net profit | -234 | -178 | -154 | -85 | -100 | -51 |
| EPS (₹) | -9.00 | -5.00 | -4.00 | -2.22 | -2.62 | -1.33 |
| Revenue YoY | +73.7% | +88.8% | ||||
| Profit YoY | – | – |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY25 | FY26 | TTM |
|---|---|---|---|
| Revenue | 2,255 | 3,672 | 4,244 |
| EBITDA | -581 | -413 | -312 |
| Net profit | -812 | -517 | -390 |
| EPS (₹) | -32.00 | -13.99 | -10.17 |
| Revenue growth | +62.8% | – | |
| Profit growth | – | – | |
| Dividend / share (₹) | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | – |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | – (2y) | +89.0% |
Balance sheet
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Shareholders' equity | 493 | 2,573 |
| Borrowings | 450 | 513 |
| Cash & equivalents | 411 | 1,375 |
| Total assets | 2,101 | 4,722 |
| Fixed assets | 512 | 526 |
| Capital work in progress | 6 | 103 |
| Investments | 0 | 0 |
| Receivables | 12 | 8 |
| Inventory | 245 | 282 |
| Payables | 561 | 830 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Cash from operations | -721 | 32 |
| Cash from investing | -378 | -2,527 |
| Cash from financing | 703 | 2,497 |
| Capex | 339 | 506 |
| Free cash flow | -1,060 | -474 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY25 | FY26 |
|---|---|---|
| ROE % | -164.8% | -20.1% |
| ROCE % | -74.4% | -14.1% |
| Debtor days | 2 | 1 |
| Inventory days | 48 | 35 |
| Payable days | 109 | 105 |
| Cash conversion cycle (days) | -59 | -69 |
| Working capital days | -3 | 197 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 42.33% |
| FIIs | 15.09% |
| DIIs | 27.02% |
| of which Mutual funds | 18.06% |
| of which Insurance | 1.10% |
| Public (non-institutions) | 15.56% |
| Quarter | May 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Jul 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 42.09% | 42.09% | 41.22% | 40.86% | 40.77% | 40.72% | 39.58% | 42.33% |
| Promoter group | % |
|---|---|
| Hero Motocorp Limited | 32.01% |
| Swapnil Babanlal Jain | 4.86% |
| Tarun Sanjay Mehta | 4.86% |
| Jain Family Trust (Represented by Swapnil Babanlal Jain) | 0.16% |
| Swapnil Jain Family Trust (Represented by Swapnil Babanlal Jain) | 0.16% |
| Mehta Family Trust (Represented by Tarun Sanjay Mehta) | 0.15% |
| Tarun Swarna Family Trust (Represented by Tarun Sanjay Mehta) | 0.13% |
| Sanjay Surajraj Mehta | 0.00% |
| Sangeeta Sanjay Mehta | 0.00% |
| Swarna Srimal Mehta | 0.00% |
| Divya Mehta | 0.00% |
| Aarohi Mehta | 0.00% |
| Vinod Srimal | 0.00% |
| Shikha Srimal | 0.00% |
| Shivika Srimal | 0.00% |
| Public holders above 1% | % |
|---|---|
| India Japan Fund | 6.07% |
| Sbi Small Cap Fund | 3.45% |
| Caladium Investment Pte Ltd | 3.23% |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Midcap Fund | 2.54% |
| Motilal Oswal Large And Midcap Fund | 2.24% |
| Hsbc Mutual Fund - Hsbc Midcap Fund | 2.13% |
| Aditya Birla Sun Life Mutual Fund - Aditya Birla Sun Life Flexi Cap Fund | 2.11% |
| Edelweiss Trusteeship Co Ltd Ac- Edelweiss Mf Ac- Edelweiss Mid Cap Fund | 1.35% |
| Kamath Associates | 1.09% |
| Nksquared | 1.07% |
3,47,160 shareholders. Pledged: – of promoter shares.
Peers in 2/3 Wheelers
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BAJAJ-AUTO | ₹2,81,484 cr | 23.9x | 7.2x | 31.8% | 26.6% | 20.6% | +19.9% | 2.08% |
| EICHERMOT | ₹1,94,881 cr | 33.7x | 7.8x | 24.9% | 26.4% | 24.5% | +17.5% | 0.99% |
| TVSMOTOR | ₹1,89,850 cr | 55.4x | 19.9x | 37.9% | 18.7% | 14.8% | +20.6% | 0.30% |
| HEROMOTOCO | ₹1,04,032 cr | 19.1x | 4.8x | 26.7% | 34.4% | 14.3% | +11.6% | 3.37% |
| ATHERENERG | ₹60,338 cr | – | 23.4x | -25.4% | -10.1% | -7.4% | – | – |
| OLAELEC | ₹13,856 cr | – | 4.1x | -41.0% | -24.0% | -48.9% | – | – |
| ZELIO | ₹2,114 cr | 66.0x | 23.4x | 31.4% | 40.4% | 11.3% | – | – |
| WARDINMOBI | ₹100 cr | 83.5x | 0.7x | 0.7% | 5.7% | 7.5% | +1.1% | – |
| SEVL | ₹37 cr | 9.1x | 1.0x | 10.3% | 16.4% | 8.6% | – | – |
Documents
- Annual report FY26
- Annual report FY25
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Consumer Discretionary |
| Industry | 2/3 Wheelers |
| Sub-industry | 2/3 Wheelers |
| Symbol | ATHERENERG |
| BSE code | 544397 |
| ISIN | INE0LEZ01016 |
| Face value | ₹1.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.