Ather Energy Overtakes Ola, Stock Hits All-Time High
Ather Energy, a leading electric two-wheeler manufacturer, has made significant strides in the market and on the stock market today. The company recently overtook Ola Electric to secure the third spot in terms of registrations in September 2023. Meanwhile, Ather Energy's stock experienced a remarkable surge, hitting an all-time high during intraday trading.
Ather Energy's stock price soared over 5% to touch INR 622 on the BSE, indicating strong investor confidence in the company's prospects. The company's market capitalisation stood at an impressive INR 23,616.23 Cr, with over 39 Lakh shares changing hands on that day. Ather Energy ended the trading session 4.85% higher at INR 620.95 on the BSE.
In terms of financial performance, Ather Energy trimmed its net loss by 3% YoY to INR 178.2 Cr in Q1 FY26. This was accompanied by a significant revenue growth of over 79% to INR 644.6 Cr. The company's success can be attributed to its flagship model, the Rizta, which has been a key growth driver, with the company rolling out its 5,00,000th e-scooter since inception.
Ather Energy, founded by Tarun Mehta and Swapnil Jain, has been expanding its manufacturing capabilities. Its Hosur facility currently has a capacity of 4.2 Lakh scooters a year, with plans to increase this to 1.42 Mn annually with a new facility in Maharashtra.
Ather Energy's recent achievements, both in the market and on the stock market, reflect the company's strong position in the electric two-wheeler segment. With a significant reduction in net loss and a substantial increase in revenue, Ather Energy is well-positioned for future growth. The company's expansion plans, including the new facility in Maharashtra, further cement its commitment to the electric vehicle market.
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