Ather Energy Ltd

Ather Energy Ltd

₹ 322 0.72%
27 May - close price
About

Incorporated in 2013, Ather Energy ltd is an Indian electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems[1]

Key Points

Leading Electric Manufacturer[1]
Headquartered in Bangalore, Ather energy is a pioneer in the Indian Electric Two-Wheeler (E2W) market. It designs and develops E2Ws, battery packs, charging infrastructure, software, and accessories. Ather manufactures battery packs and assembles E2Ws in-house, and operates on a vertically integrated, software-defined business model. As of 9M FY25, Ather is the 4th largest E2W manufacturer in India by sales volume.

  • Market Cap 12,022 Cr.
  • Current Price 322
  • High / Low 343 / 287
  • Stock P/E
  • Book Value
  • Dividend Yield 0.00 %
  • ROCE -65.7 %
  • ROE -156 %
  • Face Value 1.00

Pros

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -41.1%
  • Company has a low return on equity of -169% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Figures in Rs. Crores

Mar 2024 Dec 2024 Mar 2025
523 635 676
762 776 848
Operating Profit -238 -141 -172
OPM % -46% -22% -26%
12 15 12
Interest 19 29 28
Depreciation 38 44 45
Profit before tax -283 -198 -234
Tax % 0% 0% 0%
-283 -198 -234
EPS in Rs -24,720.77 -64.21 -8.06
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
35 80 408 1,781 1,754 2,255
220 257 670 2,488 2,438 2,836
Operating Profit -185 -177 -261 -708 -685 -581
OPM % -523% -222% -64% -40% -39% -26%
14 7 5 21 -139 50
Interest 24 28 40 65 89 111
Depreciation 25 35 48 113 147 171
Profit before tax -220 -233 -344 -864 -1,060 -812
Tax % 0% 0% 0% 0% 0% 0%
-220 -233 -344 -864 -1,060 -812
EPS in Rs -20,118.94 -21,344.92 -30,078.67 -75,436.30 -92,469.46 -27.95
Dividend Payout % 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 130%
3 Years: 77%
TTM: 29%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 8%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: -148%
3 Years: -169%
Last Year: -157%

Balance Sheet

Figures in Rs. Crores

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 0.02 0.02 0.02 0.01 0.01 29
Reserves 250 376 224 613 545 464
132 219 299 672 478 619
137 146 295 691 890 988
Total Liabilities 518 741 818 1,977 1,914 2,101
178 307 334 544 459 732
CWIP 104 47 93 37 71 6
Investments 39 92 37 286 292 41
198 295 354 1,109 1,092 1,322
Total Assets 518 741 818 1,977 1,914 2,101

Cash Flows

Figures in Rs. Crores

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-140 -226 -871 -268 -721
-172 51 -135 58 -378
296 228 1,317 633 703
Net Cash Flow -16 52 311 423 -396

Ratios

Figures in Rs. Crores

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 0 0 1 0 0 2
Inventory Days 79 226 58 59 26 48
Days Payable 47 269 116 88 90 109
Cash Conversion Cycle 32 -43 -57 -29 -64 -60
Working Capital Days -227 -102 -34 43 -59 -4
ROCE % -42% -55% -88% -69% -66%

Shareholding Pattern

Numbers in percentages

May 2025
42.09%
7.00%
23.66%
27.24%
No. of Shareholders 2,17,766

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents