Synopsis: Ather Energy Limited is steadily expanding its presence across India by focusing not just on selling scooters but also on improving the overall ownership experience. The company is putting strong emphasis on service support and convenience so that customers feel more confident about switching to electric vehicles. This move comes at a time when competition with players like Ola Electric is getting tougher.
The shares of this 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 were in focus after doubling its service stations.
With the market capitalization of Rs. 27,139 Crores, the shares of Ather energy ltd were trading at around Rs. 710 per share which is 10 percent discount from its 52 weeks high of Rs. 790 per share.
News
Ather Energy Limited has announced that it has doubled its service network in just a span of one year. The company’s service centers have increased from 277 to 500 across India. The company is ensuring that there is proper service support in every city where it sells its scooters. Ather Energy Limited is also introducing “Gold Service Centres,” which have better facilities for customers.
Additionally, the company is also offering “ExpressCare,” a periodic maintenance service that is available for 60 minutes. This service is available across 82 centers. Ather Energy Limited is also expanding its service centers in Tier-1 cities, Tier-2 cities, and emerging cities. This is in line with the increasing number of Ather experience centers, which is around 600 as of December 2025. This is also in line with the company’s plan to increase this number to 700 in FY26.
Ather Energy Limited is offering Ather 450 series scooters for customers who are performance-oriented. Additionally, the company is also offering the Rizta scooter for families. Ather Energy Limited is also ensuring that the charging infrastructure is also strengthened through Ather Grid. Ather Grid is offering over 4,357 fast charging and neighborhood charging points across the globe.
OLA Service Execution Improvements
In its Q3 update, Ola Electric’s service challenges were discussed as primarily execution-related rather than product-quality driven, as reflected in strong customer satisfaction metrics. An independent third-party survey indicates over 90% overall ownership experience satisfaction, with 80%+ respondents stating Ola’s E2W is superior to competitors, an average product rating of 8.3/10, and 74% positive service satisfaction.
Despite earlier concerns around service infrastructure, the company maintains high trust and repurchase intent among users. Additionally, warranty trends reinforce product robustness, with costs declining sharply across generations, down ~50% from Gen 1 to Gen 2 and a further ~60% from Gen 2 to Gen 3. Warranty provisions are expected to normalise at just 2–3% of revenue by FY26E, significantly lower than ~12.3% in FY25 and competitive with global EV benchmarks (around 3.0–3.6%), highlighting improving operational efficiency and product maturity.
Financials
Ather Energy Ltd engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems has around 20 percent market share in the electric two wheeler segment. The company has over 500 service centers and 5000 plus charging points and sold around 68,000 units during Q3 FY26 with 30,900 monthly registrations which is considered as highest ever registrations
Year on Year analysis: Revenue from Operations has increased from Rs. 635 Crores to Rs. 954 Crores, up 50 percent. Operating profit has narrowed from operating loss Rs. 141Crores to operating loss of Rs. 72 Crores and net profit has also narrowed from net loss of 198 Crores to net loss of Rs. 85 Crores.
Quarter on Quarter analysis: Revenue from Operations has increased from Rs. 899 Crores to Rs. 954 Crores, up 6.1 percent. Operating profit has narrowed from operating loss Rs. 132 Crores to operating loss of Rs. 72 Crores and net profit has also narrowed from net loss of 154 Crores to net loss of Rs. 85 Crores.
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