Ather’s Stellar Q1, Klassroom IPO Day 2 & More

What happened

Amid concerns of sliding EV two wheeler sales in India, Ather managed to sharply shrink its losses in Q1 FY27, and more importantly, turn EBITDA positive. Bolstered by its fresh ₹2,500 Cr rights issue and fundraise, Ather is now preparing to scale its expansion plans and inch closer to real profitability. Volume Surges: The EBITDA turnaround was driven by strong volumes.

The EV maker delivered 83,173 electric scooters in Q1, an 81% YoY jump, as customer demand continued to outstrip production capacity. On top of this, rising high-margin non-vehicle revenue from software subscriptions, charging, accessories and after-sales services contributed 14% of operating revenue. Margin Discipline: Despite commodity cost spikes, Ather expanded its adjusted gross margin by 82% YoY to ₹282 Cr in Q1.

The EV maker managed to offset inflationary pressures through calibrated price hikes, supplier negotiations and an improved product mix. These measures unlocked strong operating leverage, helping Ather absorb fixed overheads. Ather’s Next Stop: To meet demand, Ather is now accelerating its manufacturing expansion. Its new unit in Maharashtra is on track to start production in Q3 FY27 and will add 5 Lakh units of annual capacity. 2 Lakh per year.

In addition, the company plans to roll out a new scooter later this month to widen market share and sharpen manufacturing efficiency. As the EV maker prepares to pour the recently raised funds to scale its ambitions, here is how Ather fared on the financial front in Q1… For enterprises, the challenge has never been the lack of data.

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Why it matters

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What to watch

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