WEBSITE BSE:544397 NSE: ATHERENERG Inc. Year: 2013 Industry: Automobile Two & Three Wheelers My Bucket: Add Stock
Last updated: 15:59
**Ather Energy Ltd.** is a Bengaluru-based Indian electric vehicle (EV) company founded in 2013 by IIT Madras alumni Tarun Mehta and Swapnil Jain. The company specializes in designing and manufacturing premium electric scooters and developing associated charging infrastructure. Its flagship products include the Ather 450X and Ather 450S—smart, high-performance electric scooters equipped with features like touchscreen dashboards, onboard navigation, reverse assist, and fast-charging capabilities. Ather has also developed its own charging netwo...Read More
**Ather Energy Ltd.** is a Bengaluru-based Indian electric vehicle (EV) company founded in 2013 by IIT Madras alumni Tarun Mehta and Swapnil Jain. The company specializes in designing and manufacturing premium electric scooters and developing associated charging infrastructure. Its flagship products include the Ather 450X and Ather 450S—smart, high-performance electric scooters equipped with features like touchscreen dashboards, onboard navigation, reverse assist, and fast-charging capabilities. Ather has also developed its own charging network called **Ather Grid**, which is expanding rapidly across major Indian cities to support EV adoption. In addition to hardware, the company provides a connected mobile app that allows users to access real-time ride data, charging status, navigation, and over-the-air (OTA) updates. Ather\'s manufacturing facility is located in Hosur, Tamil Nadu, with the capacity to meet growing demand as the EV market in India expands. Backed by prominent investors such as Hero MotoCorp, Tiger Global, and Flipkart co-founder Sachin Bansal, Ather has emerged as a key player in India\'s clean mobility transition. The company is known for its focus on technology, sustainability, and innovation, and it continues to expand its footprint across over 100 cities while exploring international markets and further developments in EV and battery technology. ...Read Less
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Market Cap ₹31694 Cr.
Stock P/E -39
P/B 12.3
Current Price ₹851
Book Value ₹ 68.9
Face Value 1
52W High ₹948.5
Dividend Yield 0%
52W Low ₹ 287.3
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Sales | 523 | 361 | 584 | 635 | 676 | 645 | 899 | 954 |
| Other Income | 12 | 8 | 15 | 15 | 12 | 28 | 42 | 42 |
| Total Income | 535 | 368 | 599 | 650 | 688 | 673 | 941 | 996 |
| Total Expenditure | 762 | 489 | 723 | 776 | 849 | 779 | 1031 | 1026 |
| Operating Profit | -227 | -121 | -124 | -126 | -161 | -106 | -91 | -30 |
| Interest | 19 | 23 | 31 | 29 | 29 | 24 | 21 | 19 |
| Depreciation | 38 | 40 | 43 | 44 | 45 | 48 | 43 | 30 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5 |
| Profit Before Tax | -283 | -183 | -197 | -198 | -234 | -178 | -154 | -85 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -283 | -183 | -197 | -198 | -234 | -178 | -154 | -85 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -283 | -183 | -197 | -198 | -234 | -178 | -154 | -85 |
| Adjusted Earnings Per Share | 0 | -61 | -63.6 | -63.8 | -8.1 | -4.8 | -4.1 | -2.2 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 4 | 35 | 80 | 409 | 1781 | 1754 | 2255 | 3174 |
| Other Income | 2 | 6 | 9 | 8 | 14 | 9 | 5 | 21 | 38 | 50 | 124 |
| Total Income | 2 | 6 | 9 | 12 | 49 | 88 | 414 | 1802 | 1792 | 2305 | 3298 |
| Total Expenditure | 6 | 20 | 40 | 101 | 220 | 259 | 669 | 2489 | 2441 | 2836 | 3685 |
| Operating Profit | -4 | -14 | -31 | -89 | -171 | -171 | -255 | -687 | -649 | -531 | -388 |
| Interest | 0 | 0 | 1 | 8 | 24 | 28 | 41 | 65 | 89 | 111 | 93 |
| Depreciation | 1 | 2 | 5 | 10 | 25 | 35 | 48 | 113 | 147 | 171 | 166 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -175 | 0 | -5 |
| Profit Before Tax | -4 | -16 | -37 | -107 | -220 | -233 | -344 | -865 | -1060 | -812 | -651 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -4 | -16 | -37 | -107 | -220 | -233 | -344 | -865 | -1060 | -812 | -651 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -4 | -16 | -37 | -107 | -220 | -233 | -344 | -865 | -1060 | -812 | -651 |
| Adjusted Earnings Per Share | -48.8 | -176 | -399.5 | -1171.5 | -2408.2 | -2555 | 0 | -302.4 | 0 | -27.9 | -19.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 29% | 77% | 130% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | NA% | NA% | NA% |
| ROE Average | -223% | -231% | -179% | -106% |
| ROCE Average | -78% | -92% | -75% | -49% |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 77 | 245 | 229 | 252 | 250 | 376 | 225 | 614 | 546 | 493 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 11 | 66 | 111 | 111 | 109 | 121 | 31 | 117 |
| Other Non-Current Liabilities | 0 | 1 | 2 | 4 | 30 | 51 | 91 | 223 | 260 | 318 |
| Total Current Liabilities | 2 | 6 | 16 | 51 | 126 | 204 | 394 | 1020 | 1076 | 1173 |
| Total Liabilities | 79 | 251 | 259 | 373 | 518 | 741 | 819 | 1977 | 1914 | 2101 |
| Fixed Assets | 6 | 11 | 33 | 156 | 178 | 307 | 335 | 545 | 459 | 616 |
| Other Non-Current Assets | 14 | 32 | 118 | 81 | 149 | 176 | 191 | 124 | 225 | 328 |
| Total Current Assets | 59 | 209 | 108 | 135 | 192 | 259 | 293 | 1308 | 1229 | 1157 |
| Total Assets | 79 | 251 | 259 | 373 | 518 | 741 | 819 | 1977 | 1914 | 2101 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 80 | 7 | 36 | 15 | 13 | 21 | 5 | 57 | 83 | 228 |
| Cash Flow from Operating Activities | -8 | -24 | 14 | -138 | -182 | -140 | -228 | -871 | -268 | -721 |
| Cash Flow from Investing Activities | -69 | -128 | -71 | -29 | -123 | -143 | -7 | -135 | -228 | -378 |
| Cash Flow from Financing Activities | 0 | 181 | 36 | 193 | 313 | 297 | 231 | 1317 | 633 | 703 |
| Net Cash Inflow / Outflow | -77 | 29 | -21 | 26 | 8 | 13 | -4 | 311 | 138 | -396 |
| Closing Cash & Cash Equivalent | 3 | 36 | 15 | 41 | 21 | 5 | 57 | 369 | 506 | 110 |
| # | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -48.78 | -176.02 | -399.54 | -1171.47 | -2408.21 | -2554.96 | 0 | -302.4 | 0 | -27.91 |
| CEPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -22.04 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 842.11 | 2663.55 | 2495.4 | 2740.44 | 2709.51 | 3929.5 | 0 | 180.08 | 0 | 10.52 |
| Core EBITDA Margin(%) | 0 | 0 | 0 | -2287.31 | -523.23 | -224.44 | -60.7 | -39.46 | -36.4 | -22.13 |
| EBIT Margin(%) | 0 | 0 | 0 | -2343.48 | -554.96 | -257.77 | -70.85 | -44.59 | -51.41 | -26.73 |
| Pre Tax Margin(%) | 0 | 0 | 0 | -2536.02 | -622.95 | -292.36 | -80.36 | -48.21 | -56.13 | -30.94 |
| PAT Margin (%) | 0 | 0 | 0 | -2536.02 | -622.95 | -292.36 | -80.36 | -48.21 | -56.13 | -30.94 |
| Cash Profit Margin (%) | 0 | 0 | 0 | -2298.49 | -552.97 | -248.37 | -69.06 | -41.92 | -48.36 | -24.43 |
| ROA(%) | -5.64 | -9.77 | -14.37 | -34.03 | -49.36 | -37.04 | -44.12 | -61.85 | -54.48 | -40.47 |
| ROE(%) | -5.79 | -10.04 | -15.49 | -44.75 | -88.17 | -76.97 | -125.74 | -245.84 | -225.9 | -222.73 |
| ROCE(%) | -5.78 | -10.03 | -14.88 | -35.62 | -52.3 | -41.99 | -56.65 | -98.57 | -99.07 | -77.81 |
| Receivable days | 0 | 0 | 0 | 0 | 0 | 0 | 0.85 | 0.22 | 0.27 | 0.93 |
| Inventory Days | 0 | 0 | 0 | 1041.12 | 154 | 170.15 | 50.04 | 32.37 | 36.16 | 25.11 |
| Payable days | 0 | 0 | 0 | 95.53 | 48.45 | 155.43 | 89.63 | 57.72 | 87.95 | 93.7 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0 | 0 | 0 | 5.97 | 3.78 | 1.46 | 0.51 | 0.17 | -0.08 | 0.05 |
| EV/Core EBITDA(x) | 0.73 | 2.26 | 0.11 | -0.28 | -0.78 | -0.68 | -0.83 | -0.45 | 0.2 | -0.2 |
| Net Sales Growth(%) | 0 | 0 | 0 | 0 | 732.97 | 126.06 | 412.41 | 335.53 | -1.52 | 28.58 |
| EBIT Growth(%) | 0 | -260.84 | -123.48 | -175.2 | -97.26 | -5 | -47.5 | -163.51 | -21.41 | 27.71 |
| PAT Growth(%) | 0 | -260.84 | -126.99 | -193.21 | -104.61 | -6.09 | -47.49 | -151.24 | -22.58 | 23.35 |
| EPS Growth(%) | 0 | -260.84 | -126.99 | -193.21 | -105.57 | -6.09 | 100 | 0 | 100 | 0 |
| Debt/Equity(x) | 0 | 0 | 0.05 | 0.26 | 0.73 | 0.48 | 1.58 | 0.94 | 0.74 | 1.47 |
| Current Ratio(x) | 34.09 | 37.21 | 6.61 | 2.63 | 1.52 | 1.27 | 0.74 | 1.28 | 1.14 | 0.99 |
| Quick Ratio(x) | 34.09 | 37.21 | 6.61 | 2.4 | 1.38 | 0.99 | 0.59 | 1.03 | 1.03 | 0.78 |
| Interest Cover(x) | 0 | 0 | -63.73 | -12.17 | -8.16 | -7.45 | -7.45 | -12.3 | -10.91 | -6.34 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|
| Promoter | 42.09 | 42.09 | 41.22 | 40.86 |
| FII | 7 | 24.07 | 23.6 | 17.46 |
| DII | 23.44 | 24.01 | 23.61 | 28.1 |
| Public | 27.47 | 9.83 | 11.57 | 13.58 |
| Others | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 |
| # | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|
| Promoter | 15.68 | 15.68 | 15.68 | 15.6 |
| FII | 2.61 | 8.97 | 8.98 | 6.67 |
| DII | 8.73 | 8.94 | 8.98 | 10.73 |
| Public | 10.23 | 3.66 | 4.4 | 5.18 |
| Others | 0 | 0 | 0 | 0 |
| Total | 37.25 | 37.25 | 38.03 | 38.18 |
* The pros and cons are machine generated.
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