Ather Energy Q2 FY27 results: net profit ₹1.26 crore

How did Ather Energy perform in Q2 FY27?

Ather Energy reported consolidated revenue of ₹1,464 crore in Q2 FY27, up 20.3% from ₹1,217 crore in Q1 FY27. Other income was ₹62.71 crore and total expenses were ₹1,526 crore. EBITDA turned to profit at ₹11.46 crore from ₹33.28 crore in the previous quarter, with the EBITDA margin at 0.8% compared with -2.7%.

The company reported a net profit of ₹1.26 crore in Q2 FY27, against a net loss of ₹51.09 crore in Q1 FY27, and basic EPS of ₹0.03 compared with -₹1.33. On the standalone basis, revenue was ₹1,464.24 crore, while profit before tax was a loss of ₹154.1 crore. In H1 FY27, consolidated revenue was ₹2,681.16 crore and the company reported a net loss of ₹49.83 crore, with basic EPS of -₹1.28.

What do the balance sheet and cash flow show?

As of 30 September 2026, total assets were ₹6,952.89 crore and total equity was ₹4,285.75 crore. Borrowings stood at ₹820.95 crore, cash and cash equivalents at ₹364.8 crore, inventories at ₹402.75 crore, trade receivables at ₹27.31 crore and trade payables at ₹921.31 crore. The available balance-sheet data does not include a previous balance-sheet date for comparison.

For H1 FY27, operating cash flow was a cash outflow of ₹40.05 crore, investing cash flow was a cash outflow of ₹1,678.13 crore and financing cash flow was a cash inflow of ₹1,971.04 crore. Capital expenditure was ₹520.26 crore. The available cash-flow data does not include a year-earlier comparison.

What else did the company announce?

On 26 October 2026, the board approved approximately INR 122 crore of capital expenditure, including taxes, for expansion at Hosur and Chhatrapati Sambhajinagar. Hosur annual production capacity is proposed to increase from 420,000 units to 495,000 units, while Factory 3.0’s planned annual capacity is proposed to increase from 500,000 units to 650,000 units.

The filing stated that up to INR 58 crore, including tax, is earmarked for Hosur and up to INR 64 crore, including tax, for Factory 3.0, with financing through a combination of debt and internal accruals. Hosur capacity addition is expected to be completed in December 2026 and Factory 3.0 capacity addition in Q2 FY28. The same-day filings also covered the investor presentation for the quarter and half year ended 30 September 2026.

What did Ather Energy's management say?

Management said annual installed capacity would increase to 11.4 lakh units by Q2 FY28 from the prior 9.2 lakh-unit plan. Hosur capacity is expected to increase by 6,000 units per month later in Q3 FY27, while AURIC Phase 1 is expected to add 12,000 units per month by Q2 FY28. The company expects trial production in Q3 FY27 and completion of capex and capacity installation by Q4 FY27.

Management said no additional price increases were planned for Q3 FY27 and that prices were intended to remain stable for the next few quarters. It also said Konarc had sold under 10,000 units in its first month, leaving attach rates and variant demand unproven, while the 42,000-unit-per-month AURIC Phase 1 base was expected to take two quarters to ramp. Management identified commodity inflation, memory costs, commissioning and utilisation execution, Konarc demand, and tight capacity as risks.

CEO Tarun Mehta said: “I do want to call out, however, that we're not out of the woods. There's a lot of ops for us to deliver on. And PAT is not the first thing to focus on.” He also said: “I would not want to push pricing up at least over the next few quarters.” On demand, he said the company’s internal estimate was roughly 20,000 units per month of unrealised retail that it was not tapping yet. Preorders were 1.8 lakh and registrations were 92,500 units in the quarter, according to management’s update.

How did Ather Energy shares react?

Ather Energy’s shares were up 7.0% five minutes after the filing appeared, 7.7% after 15 minutes and 10.5% after 30 minutes. On the reaction day, the stock was up 14.0% from its previous close of ₹1,380.0, compared with a 0.0% median move for the other stocks in the 2/3 Wheelers industry and a 1.1% move for the Nifty Smallcap 250.

By the next day’s close, the stock was up 21.3% from its pre-results close, against a 2.7% median move for the industry’s other stocks and a 3.3% move for the Nifty Smallcap 250. By the fifth session’s close, it was up 28.6%, compared with 2.2% for the industry median and 3.7% for the Nifty Smallcap 250. The stock’s excess move over the industry median was 14.0 percentage points on the reaction day, 18.6 percentage points by the next day’s close and 26.4 percentage points by the fifth session’s close.

Earlier reaction-day moves were 7.2% on 15 July 2026, 0.3% on 4 May 2026, 11.4% on 2 February 2026, 4.6% on 10 November 2025, 12.4% on 4 August 2025 and 2.8% on 12 May 2025. These moves describe the recorded reaction after prior results and do not indicate the direction of any future movement.