Ather Energy Ltd
₹ 692
1.10%
26 Nov
- 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
- Market Cap ₹ 26,412 Cr.
- Current Price ₹ 692
- High / Low ₹ 790 / 287
- Stock P/E
- Book Value ₹ 71.6
- Dividend Yield 0.00 %
- ROCE -65.7 %
- ROE -156 %
- Face Value ₹ 1.00
Pros
Cons
- Stock is trading at 9.68 times its book value
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -0.87%
- Company has a low return on equity of -169% over last 3 years.
- Company's cost of borrowing seems high
* 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
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 35 | 80 | 408 | 1,781 | 1,754 | 2,255 | 2,854 | |
| 220 | 257 | 668 | 2,488 | 2,438 | 2,836 | 3,434 | |
| Operating Profit | -185 | -177 | -260 | -708 | -685 | -581 | -580 |
| OPM % | -523% | -222% | -64% | -40% | -39% | -26% | -20% |
| 14 | 7 | 4 | 21 | -139 | 50 | 97 | |
| Interest | 24 | 28 | 40 | 65 | 89 | 111 | 102 |
| Depreciation | 25 | 35 | 48 | 113 | 147 | 171 | 180 |
| Profit before tax | -220 | -233 | -344 | -864 | -1,060 | -812 | -764 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | |
| -220 | -233 | -344 | -864 | -1,060 | -812 | -764 | |
| EPS in Rs | -20,118.94 | -21,344.92 | -30,078.67 | -75,436.30 | -92,469.46 | -27.95 | -81.10 |
| 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: | -147% |
| 3 Years: | -169% |
| Last Year: | -157% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.02 | 0.02 | 0.02 | 0.02 | 0.00 | 29 | 38 |
| Reserves | 250 | 376 | 224 | 614 | 545 | 464 | 2,683 |
| 132 | 219 | 365 | 485 | 478 | 619 | 430 | |
| 137 | 146 | 229 | 878 | 890 | 988 | 1,292 | |
| Total Liabilities | 518 | 741 | 819 | 1,977 | 1,914 | 2,101 | 4,443 |
| 178 | 307 | 335 | 544 | 459 | 616 | 780 | |
| CWIP | 104 | 47 | 93 | 37 | 71 | 122 | 24 |
| Investments | 39 | 92 | 37 | 286 | 292 | 41 | 480 |
| 198 | 295 | 354 | 1,109 | 1,092 | 1,322 | 3,159 | |
| Total Assets | 518 | 741 | 819 | 1,977 | 1,914 | 2,101 | 4,443 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -182 | -140 | -226 | -871 | -268 | -721 | |
| -123 | -172 | 51 | -135 | 58 | -100 | |
| 313 | 296 | 228 | 1,317 | 633 | 703 | |
| Net Cash Flow | 8 | -16 | 52 | 311 | 423 | -118 |
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 | 57 | 59 | 26 | 48 |
| Days Payable | 47 | 269 | 113 | 88 | 90 | 109 |
| Cash Conversion Cycle | 32 | -43 | -56 | -29 | -64 | -60 |
| Working Capital Days | -225 | -425 | -203 | -36 | -122 | -69 |
| ROCE % | -42% | -51% | -95% | -75% | -66% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
1d - The Board of Ather Energy Limited ("the Comapny") have vide circular resolution passed on November 25, 2025, alloted 7,69,375 equity shares of face value of …
-
Press Release
21 Nov - Launched Rizta in Sri Lanka at Colombo Motor Show Nov 21, 2025; 40 Experience Centres.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
19 Nov - Plant visit for investors/analysts at Hosur on Nov 22, 2025 at 11:00 AM IST.
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
14 Nov - In furtherance to our earlier letter dated November 11, 2025 on the audio recording of earnings call of the Company pertaining to the Unaudited Financial …
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 14 Nov
Concalls
-
Nov 2025Transcript PPT REC
-
Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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.