Ather Energy Limited has informed the Exchange regarding 'Transcript of 12th Annual General Meeting'.
ATHERENERG · price
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Awaiting price reaction for this filing.
Ather Energy filed the transcript of its 12th AGM, its first as a listed company after the May 2025 IPO. CEO Tarun Mehta highlighted FY25 results: volumes up 40-50%, adjusted gross margins more than doubling from 9% to 19%, and EBITDA improving from -36% to -23%. Q1 FY26 showed continued momentum with gross margins up ~400 bps and volumes nearly doubling YoY, driven by the new Ather Rizta family scooter. The company announced expansion plans including scaling distribution from ~10-15 stores/quarter to 80-90 stores/quarter with a target of 700 stores pan-India, and confirmed its new EL platform (cost-optimised) will go live next year. A 100-acre greenfield plant in Chhatrapati Sambhajinagar, Maharashtra, is under construction, while the existing Hosur plant is at ~2/3 utilisation. Ather also reported 88% software attach rate for its Atherstack ProPack, contributing ~12% non-vehicle revenue.
Positive for shareholders — management provided clear guidance on continued gross margin expansion driven by value engineering, the lower-cost EL platform, and favourable commodities. Strong volume growth, improving unit economics, distribution scaling, and a roadmap into motorcycles (Zenith platform) signal a credible path toward profitability, though near-term GST changes may require tactical responses.