Earnings Conference Call Details

Ather Energy Ltd has scheduled an earnings conference call to discuss its Q2FY27 performance. The call will provide an opportunity for analysts and investors to interact with the company's leadership team regarding the quarterly updates.

Schedule

• Date: Monday, October 26, 2026
• Time: 04:00 PM IST

Management Participation

The following members of the leadership team are scheduled to participate in the conference call:

• Tarun Sanjay Mehta: Executive Director & CEO
• Sohil Dilipkumar Parekh: Chief Financial Officer

Participation Access

The company has provided multiple ways to join the call, including a pre-registration link for direct access and operator-assisted dial-in numbers for various regions, including India, Singapore, the UK, Hong Kong, and the USA.

The company also stated in its filing that a meeting of the Board of Directors is scheduled for the same day, October 26, 2026.

Board Meeting Schedule

Ather Energy Ltd has scheduled a meeting of its Board of Directors on Monday, October 26, 2026. This is a standard regulatory filing to notify stakeholders of the upcoming board proceedings.

Investor Takeaway

This is a routine regulatory filing. Shareholders should monitor the upcoming financial results announcement for insights into the company's performance, operating metrics, and management commentary for the quarter and half-year ended September 30, 2026.

Strategic Business Update: Ather Insurance Limited Receives IRDAI License

Ather Energy Limited has informed the stock exchanges that its wholly owned subsidiary, Ather Insurance Limited, has successfully secured a Certificate of Registration from the Insurance Regulatory and Development Authority of India (IRDAI).

Key Highlights

• License Type: Certificate of Registration as a Corporate Agent (Composite).
• Scope: Distribution and servicing of life, general, and health insurance business.
• Effective Date: October 15, 2026.
• Regulatory Body: Insurance Regulatory and Development Authority of India (IRDAI).

Strategic Rationale

According to the disclosure, this licensing milestone is designed to enable Ather Energy to diversify its revenue streams. By establishing a corporate agency, the company aims to leverage its existing customer base to generate recurring revenue opportunities. Additionally, management expects this initiative to improve the overall customer experience for its user base and retail partners.

License Status and Conditions

The Certificate of Registration is effective from October 15, 2026. The license remains in force indefinitely, subject to the timely payment of annual fees and adherence to the IRDAI (Registration of Corporate Agents) Regulations, 2015, as amended. The company confirmed that there is currently no withdrawal, cancellation, or suspension of the license.

What This Means for Investors

This development marks a pivot towards a services-based revenue model for the electric vehicle manufacturer. By utilizing the captive customer base for insurance product distribution, Ather Energy seeks to enhance lifetime customer value. Investors should monitor how the company integrates these financial products into its sales channel and the eventual contribution to non-vehicle revenue streams.

Compliance Certificate Filing

Ather Energy Limited submitted the compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026.

Registrar Confirmation

The company’s Registrar and Transfer Agent (RTA), MUFG Intime India Private Limited, issued a confirmation certificate stating that all securities of the company are currently held in dematerialized form.

As a direct result of this status, the company did not receive any physical security certificates for dematerialization during the quarter. Consequently, the requirements for the following procedural actions under the regulation were not applicable:

• Confirmation (approval/rejection) of security certificates received for dematerialization.
• Listing of securities on stock exchanges for dematerialization.
• Mutilation and cancellation of security certificates.
• Substitution of the depository's name as the registered owner in company records.

ESOP Grant Overview

On October 05, 2026, Ather Energy Limited announced that its Nomination and Remuneration Committee approved the grant of 823 Employee Stock Options (ESOPs) to eligible employees. The grant is issued under the 'Ather Energy ESOP 2025' plan.

Plan Terms

Governance

The grant is administered by the Nomination and Remuneration Committee of the Board of Directors and is governed by the ESOP Plan as approved by the shareholders. Each vested option confers the right to the grantee to apply for one equity share of the company.

Investor Takeaway

This announcement is a procedural compliance filing under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scale of the grant (823 options) is not material to the company's capital structure or financial performance.

Key Highlights

Ather Energy Ltd has announced the allotment of equity shares following the exercise of stock options by eligible employees. This action was approved by the Board of Directors via a circular resolution on October 01, 2026.

Important Figures

The allotment results in a minor expansion of the company's paid-up equity share capital.

Corporate Action Details

The 1,14,350 equity shares allotted under the Ather Energy ESOP 2025 Plan are regular equity shares that rank pari-passu with all existing shares of the company. This means the new shares carry the same voting, dividend, and other rights as the shares currently held by existing shareholders.

This filing serves as the mandatory intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. There are no additional financial commitments or strategic shifts associated with this announcement, as it is part of the company's standard employee remuneration and incentive framework.

What This Means for Investors

For existing shareholders, this event represents the standard conversion of employee stock options into equity. The resulting dilution is minor and is a common administrative outcome of ESOP plans. No material impact on the company's operational performance, cash position, or strategic outlook is expected from this routine issuance.

Regulatory Disclosure: Trading Window Closure

Ather Energy Ltd has formally notified the stock exchanges of the closure of its trading window for dealing in the company's equity shares. This administrative action is taken in compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct.

Key Details

• Effective Date: October 01, 2026
• Scope: Restrictions apply to all designated persons, their immediate relatives, and other insiders.
• Re-opening Timeline: The trading window will resume 48 hours after the official announcement of the company's unaudited financial results for the quarter and half-year ended September 30, 2026.

Investor Relevance

This notice is a standard procedural compliance measure and does not indicate any material event or shift in the company's financial or operational position. Investors should treat this as a regular update prior to upcoming financial results.

Business and Operational Update

Ather Energy Ltd has officially completed the incorporation of its Wholly Owned Subsidiary (WOS), 'Ather Energy Hong Kong Limited', on September 21, 2026. This development is in alignment with the company's previously stated strategic intent—intimated to the exchanges on February 02, 2026—to enhance its supply chain resilience and support critical procurement functions within the Asia-Pacific (APAC) region.

Transaction Details

The incorporation involved the following terms as disclosed by the company:

Investor Takeaway

This incorporation marks the fulfillment of a previously communicated plan to expand the company's procurement footprint. Shareholders should note that this remains an operational development intended to improve the company's supply chain capabilities rather than an immediate revenue-generating event.

Key Highlights

Grant Details

The Nomination and Remuneration Committee of Ather Energy Limited has approved the grant of 1,094 employee stock options under the Ather Energy ESOP 2025 plan. Each option, upon vesting and exercise, confers the right to acquire one equity share of the company with a face value of INR 1 each. The exercise price for these options is set at INR 1 per share. Eligible employees have a window of five years from the date of vesting to exercise these options.

This filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring regulatory transparency regarding the company's employee compensation practices.

What This Means for Investors

This announcement is a routine regulatory filing concerning internal employee compensation and does not represent a material change in the company's financial position, shareholding pattern, or capital structure. The small number of options granted (1,094) indicates negligible dilution impact. Investors should view this as standard corporate governance and administrative procedure.

Investor Meeting Participation

Ather Energy Ltd has informed the stock exchanges about its upcoming participation in an investor and analyst conference.

Meeting Schedule

The company has confirmed that discussions at the conference will be based solely on publicly available information and that no Unpublished Price Sensitive Information (UPSI) will be shared during the event. This disclosure is in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Highlights

Capital Structure Update

The Board of Directors approved the allotment of 4,84,551 equity shares, resulting in an increase in the company's paid-up share capital.

Investor Takeaway

This filing represents a routine corporate action related to the exercise of employee stock options. It does not indicate a change in business strategy, financial outlook, or operating performance.

Transaction Overview

Caladium Investment Pte Ltd has reported the disposal of 12,074,306 equity shares of Ather Energy Limited via open-market transactions. The sale occurred on 28 August 2026. This divestment has resulted in a material change in Caladium's shareholding, reducing its position from approximately 6.29% to 3.24% of the company's total equity share capital.

Shareholding Impact

Note: Percentages are calculated based on the latest disclosed total paid-up equity share capital of 396,119,200 shares, as of 25 August 2026.

Regulatory Context

This disclosure was filed in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Caladium noted that it had conducted "Prior Trades" between 16 May 2026 and 27 August 2026 involving the sale of 7,601,150 shares (1.92% of capital). While these prior individual tranches did not independently trigger the disclosure threshold of 2%, the current disposal, when aggregated with the prior trades, resulted in a cumulative change of 4.97% in Caladium's shareholding, thereby mandating this formal disclosure.

Investor Takeaway

The reduction of stake by Caladium Investment suggests a divestment of a portion of its holding in Ather Energy. As an institutional investor, such a movement is monitored for liquidity implications and shifting ownership patterns within the EV sector. Existing shareholders should note the reduced stake and track further disclosures for any additional changes in institutional participation.

Filing Overview

Ather Energy Limited has provided notice to the stock exchanges regarding its participation in upcoming investor and analyst meetings. This disclosure is part of the company's compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Schedule of Meetings

The company has confirmed the following schedule for its investor and analyst interactions:

Compliance and Transparency

Ather Energy has noted the following regarding these interactions:

• Scope: Discussions will be based solely on publicly available information.
• Policy: No Unpublished Price Sensitive Information (UPSI) will be shared during these meetings.
• Flexibility: The schedule remains subject to change due to exigencies either on the part of the investors/analysts or the company.

Investor Relevance

This filing is a routine corporate governance disclosure. It serves to inform shareholders and the public of the company's communication activities with the financial community. No new financial results, operational updates, or material business developments were disclosed in this announcement.

Key Highlights

Ather Energy hosted its 4th annual 'Ather Community Day', announcing four major developments across product, battery technology, charging infrastructure, and vehicle ownership services:

Product Launch: Konarc

Ather introduced the Konarc, its newest scooter built on a newly developed EL platform. Designed for mainstream Indian riders, the Konarc is available in six variants across the S and Z product lines, offering IDC range options from 100 km to 200 km. Key features include a 10,000-km service interval, Advanced Electronic Braking System (AeBS), MagicKey, AutoPop, and AirWalk.

5th-Generation Bedrock Batteries

The company unveiled its 5th-generation Bedrock battery platform, which introduces 'BreachSense,' a real-time monitoring system designed to detect microscopic damage after high-impact accidents. Key improvements include:

• Warranty: 10 years or 100,000 km (whichever is earlier), including a 70% state-of-health guarantee.
• Performance: Higher cell-balancing capability compared to the previous generation, with an expected 70% state of health reached at approximately 1L to 1.2L KMs.

Charging Infrastructure: AtherNode

To address challenges related to sanctioned load capacity in residential and commercial buildings, Ather introduced AtherNode. This charging solution uses a single central gateway to manage up to 1,000 chargers. The system monitors the building's overall power utilization and automatically adjusts or pauses charging during peak demand, allowing communities to increase charging points without the need for immediate electrical infrastructure upgrades.

Vehicle Ownership: Ather True Health

Ather True Health is a new service that provides riders with a comprehensive health report and estimated resale value for scooters that have completed 3 years on the road with AtherStack Pro. The report combines data on age, kilometers ridden, riding behavior, battery status, and component condition (motor, charging system, etc.) to generate a health score.

What This Means for Investors

These announcements represent a focus on both product expansion (via the new EL platform) and the resolution of long-term EV ownership hurdles such as battery longevity, safety, and charging accessibility in multi-dwelling units. For shareholders, these developments indicate a proactive strategy to address mainstream market barriers that may influence future adoption rates.

Investor Takeaway

Investors should monitor the market reception and sales performance of the new Konarc scooter, as well as the implementation and uptake of the AtherNode charging solution. These launches are aimed at strengthening the company's competitive position by enhancing the total ownership value proposition.

Key Highlights

Product Launch Details

Ather Energy has unveiled the Konarc electric scooter at the fourth edition of Ather Community Day 2026. Built on the company's new 'EL' platform, the scooter is positioned to appeal to a broader segment of the Indian market. It is available in two product lines: the S line, which includes four variants (100 km, 125 km, 161 km, and 200 km ranges), and the Z line, which includes two variants (125 km and 161 km).

Technical Specifications and Features

The Konarc introduces several new technological features aimed at rider convenience and safety:

• Advanced Electronic Braking System (AeBS): An in-house developed system that dynamically adjusts braking force between front and rear wheels based on road conditions, aiming to reduce stopping distances and wheel lock-ups.
• Smart Features: Includes 'MagicKey' for keyless entry and locking, 'AutoPop' for hands-free under-seat storage access, and 'AirWalk' to assist in moving the scooter manually.
• Charging and Service: The scooter features an onboard charger and optional 900W combined charging capabilities. The service interval has been doubled to 10,000 km (roughly once a year), with reduced service checkpoints.
• Battery Warranty: The new 'Bedrock' battery packs come with a 10-year or 1,00,000 km warranty, which guarantees a minimum 70% state of health at the end of the coverage period.

Pricing and Availability

The initial rollout will prioritize select variants and states. The S 125 km and S 161 km variants will be available first, with bookings and deliveries starting in mid-September. The pricing for the base S variants (effective ex-showroom Bengaluru) is as follows:

• Konarc S 100 km: ₹99,999
• Konarc S 125 km: ₹1,21,999
• Konarc S 161 km: ₹1,44,999

What This Means for Investors

This launch signifies Ather Energy's continued focus on scaling its operations and diversifying its product portfolio to reach mass-market consumers. By focusing on simplified maintenance and offering a 10-year battery warranty, the company is attempting to lower the barrier to EV adoption and improve the total cost of ownership proposition for buyers. Investors should monitor the market reception and the pace of the phased rollout to gauge the demand for this new platform.

Analyst and Investor Interaction

Ather Energy Ltd has announced that it will hold an Analyst/Investor Group Meeting on August 29, 2026. The company is hosting this session as a follow-up to its 'Ather Community Day', which was originally announced on July 14, 2026.

Meeting Purpose and Scope

According to the disclosure, the company decided to facilitate this group meeting due to continued interest and participation inquiries from members of the analyst and investor community. The meeting is scheduled to take place on the same day as the community event.

The company has clearly outlined the parameters for the discussion, noting that:

• Discussions will be restricted to publicly available information.
• No Unpublished Price Sensitive Information (UPSI) will be shared during these meetings.

Investor and Analyst Meeting Schedule

Ather Energy Ltd has informed the exchanges of its participation in the following investor and analyst conferences scheduled for September 2026:

Procedural Notes

The company has emphasized that the schedule remains subject to change due to exigencies on the part of the investors, analysts, or the company itself. Additionally, Ather Energy has confirmed that all discussions will be restricted to publicly available information, and no Unpublished Price Sensitive Information (UPSI) will be shared during these interactions.

13th Annual General Meeting Outcome

Ather Energy Ltd held its 13th Annual General Meeting (AGM) on August 19, 2026, via video conferencing. The company confirmed that all resolutions presented in the notice dated July 27, 2026, were passed by shareholders with the requisite majority. The voting process included both remote e-voting (August 16-18, 2026) and e-voting conducted during the AGM.

Voting Summary

Resolution Details

• Financial Statements: Shareholders adopted the audited financial statements for the financial year ended March 31, 2026, alongside the Board of Directors' and Auditors' reports.
• Director Re-appointment: Mr. Ram Kuppuswamy (DIN: 09817635), retiring by rotation, was re-appointed as a director.
• Auditor Re-appointment: M/s. Deloitte Haskins & Sells, Chartered Accountants, were re-appointed as the company's Statutory Auditors.
• ESOP Plan Extension: The company received approval to extend the benefits of the 'Amended and Restated Ather Energy ESOP Plan 2025' to employees of its subsidiary companies. This resolution received the highest level of dissent among the four items, with approximately 13.54% of votes cast against it.

Scrutinizer's Report

Mr. Biswajit Ghosh (Membership No.: F8750/CP No.: 8239), Designated Partner of BMP & Co. LLP, served as the Scrutinizer for the AGM. The final analysis of the e-voting results was compiled and submitted to the company, confirming the validity of the votes cast through the NSDL e-voting system.

Investor Takeaway

This filing confirms the successful conclusion of the company's 13th AGM. Shareholders have formally approved the financial statements and key corporate appointments for the year. The higher dissent noted for the ESOP plan extension is common in shareholder meetings involving employee compensation structures and does not impede the resolution's approval.

Meeting Overview

Ather Energy Limited conducted its 13th Annual General Meeting (AGM) on August 19, 2026, through Video Conferencing. The meeting was chaired by Ms. Neelam Dhawan, Chairperson of the Board. The event was attended by various directors, key managerial personnel, and representatives from statutory and secretarial audit firms. The proceedings confirmed that no qualifications or adverse comments were noted in the auditor's report on the company's financial statements.

Business Agenda

The following items were presented for shareholder consideration:

Management Commentary and Outlook

During the meeting, the board and management highlighted several operational and strategic developments:

• Operational Progress: Management emphasized continued progress across product and technology platforms, supported by investments in manufacturing and capacity at AURIC.
• International Expansion: Mr. Tarun Sanjay Mehta, CEO, detailed the expansion of operations into Nepal and Sri Lanka and outlined opportunities to scale the company's product and customer experience in international markets.
• Product Pipeline: A detailed update was provided regarding the first product on the EL platform, the 'Konarc', including launch timelines.

Investor Takeaway

The AGM serves as a routine corporate governance touchpoint. The company highlighted ongoing focus on building manufacturing capacity and scaling international operations. Shareholders were informed that the results of the e-voting process, supervised by the designated Scrutinizer, will be disseminated to the stock exchanges in accordance with applicable laws.

Key Highlights

Corporate Governance Update

Ather Energy Limited has published a newspaper advertisement to formally confirm the dispatch of a corrigendum to the notice of its Extraordinary General Meeting (EGM). This publication ensures that all shareholders are duly informed of the changes or updates to the meeting agenda or documentation.

The company has confirmed that the information has been made available on its official website, maintaining transparency in its shareholder communications. This filing is executed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, adhering to standard regulatory reporting practices for listed entities.

Investor Takeaway

This update is procedural and pertains to the administrative process surrounding the company's Extraordinary General Meeting. There are no changes to the company's financial or operational status arising from this specific filing. Investors should view this as a standard corporate governance notification. No further action or impact analysis is required based on this specific update.

Schedule of Investor Meetings

Ather Energy Limited has provided notice of its participation in two major investor and analyst conferences to be held in August 2026. These meetings are physical events aimed at institutional investor engagement.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that no Unpublished Price Sensitive Information (UPSI) will be discussed during these sessions. These meetings are intended to facilitate standard communication between management and the investor community regarding the company's general business strategy and operational outlook.

Financial Performance

Ather Energy reached a significant operational milestone in Q1 FY 2027, reporting its first-ever positive EBITDA of Rs. 9 crore. This performance comes amidst a challenging environment, highlighting the company's focus on operational discipline and cost management.

Margin and ASP Analysis

The company navigated significant commodity headwinds, which resulted in a 5.6% impact on gross margins during the quarter. While Adjusted Gross Margins (AGM) saw a decline compared to the previous quarter, management noted structural gains that are expected to support profitability going forward.

• Average Selling Price (ASP): The ASP reached Rs. 1.61 lakh in June 2026, compared to Rs. 1.5 lakh in Q4 FY 2026, driven by price hikes and improved SKU management.

Capacity and Operational Updates

Production remains a critical focus area. The current Hosur facility is operating at near 100% utilization (35,000 units/month). To address the supply-demand gap, the company is prioritizing the go-live of the AURIC (Aurangabad) Phase 1 facility, which will unlock 5 lakh units of annual capacity, aiming for a total capacity of 9.2 lakh units by the end of the calendar year.

Corporate Actions and Fundraising

Ather Energy is strengthening its balance sheet to support expansion. The company has successfully closed a Rs. 1,300 crore QIP and is in the process of completing an additional Rs. 1,200 crore via a preference issue, bringing total fundraising to Rs. 2,500 crore. These funds are designated for fast-tracking capacity expansion and new product development.

Risks and Watch Points

• Commodity Inflation: While management noted that commodity hits appear to be nearing a plateau, some risk of continued inflation (100-200 bps) remains for upcoming months.
• Subsidy Uncertainty: The potential discontinuation or modification of the PM E-DRIVE subsidy remains an unpredictable variable that could impact future demand and margins.
• Production Constraints: Despite recent ramp-ups, the company continues to manage supply challenges, with retail demand consistently outpacing wholesale production.

Investor Takeaway

For investors, the key update is Ather Energy's successful transition to positive EBITDA, signaling an maturing business model despite external cost pressures. The robust retail demand, evidenced by 1.5 lakh preorders, validates the company's growth thesis. Moving forward, the focus should be on the execution of the AURIC capacity ramp-up and the successful launch of the EL platform, which are critical to converting high demand into sustained volume growth and addressing supply shortages.

Key Highlights

Revision in Capital Allocation

The company has updated the "Objects of the Issue" section of its EGM notice. Ather Energy now proposes to allocate ₹275 crore towards marketing initiatives, a significant increase from the previously announced ₹125 crore. The company stated this capital will be used for brand-building, advertising across various media platforms, influencer marketing, event sponsorships, and channel partner engagement.

Preferential Issue Clarifications

This corrigendum serves to provide necessary clarifications to shareholders regarding the preferential issue of equity shares and warrants. The company has updated Annexure B to reflect revised details regarding India Japan Fund (IJF). The filing clarifies that IJF, registered as a Category II Alternative Investment Fund, will be allotted equity shares at ₹1,230 per share. Promoters and other allottees are set to receive warrants at an issue price of ₹1,260 per warrant, with each warrant convertible into one equity share.

Shareholding Impact

The filing includes updated tables for the pre-preferential and post-preferential shareholding patterns, assuming full conversion of the 79,36,507 warrants. The company explicitly noted that these figures are on a fully diluted basis and do not account for the proposed Qualified Institutional Placement (QIP) approved by the board in June 2026, as that allotment process is not yet complete.

What This Means for Investors

For investors, the primary takeaway is the adjustment in the company's capital deployment strategy. By doubling the planned marketing expenditure, the company is signaling a stronger focus on brand visibility and market expansion. The clarifications regarding the shareholding structure provide transparency on the dilution impact for existing shareholders, particularly with the inclusion of major institutional investors like the India Japan Fund alongside promoters like Hero MotoCorp.

Investor Takeaway

Shareholders should note the increased focus on marketing expenditure, which may be part of a broader strategy to capture market share. While this corrigendum is a procedural update required by regulatory advice, it provides essential visibility into the post-issue ownership structure. Investors tracking the preferential issue should monitor the upcoming EGM on August 14, 2026, where the final approvals are expected to be sought.

Corporate Disclosure

Ather Energy Ltd has fulfilled its regulatory obligation to publish the company's unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. These advertisements were published in the 'Financial Express' (English edition) and 'Vishwavani' (Kannada edition) on August 04, 2026.

Regulatory Compliance

This publication is in accordance with Regulation 47 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates that listed companies publish their financial results in at least one English language national daily newspaper circulating in the whole or substantially the whole of India and in a newspaper published in the language of the region, where the registered office of the listed entity is situated.

Investor Access

In addition to the newspaper publication, Ather Energy Ltd has made the full financial results available for investor review on the company's official website under the 'Investor Relations' section. Shareholders and market participants are encouraged to visit the company's website for the complete financial reports.

Earnings Call Overview

Ather Energy Ltd conducted an earnings conference call on August 3, 2026, to discuss the company's financial and operational performance for the quarter ended June 30, 2026 (Q1 FY2026-27). The company has officially released the audio recording of this session in compliance with regulatory requirements.

Accessing the Recording

Investors and analysts can access the full audio recording of the earnings call through the official company website. This resource is intended for stakeholders to listen to management’s detailed commentary and the Q&A session with analysts regarding the company's performance during the quarter.

• Event Date: August 3, 2026
• Reporting Period: Quarter ended June 30, 2026

Investor Relevance

The earnings call recording serves as a primary source for understanding management's strategic priorities, business updates, and responses to critical investor questions following the financial results. Investors are encouraged to review the recording for nuanced insights that may not be fully captured in written financial reports.

IPO Fund Utilization Status

The Monitoring Agency report for the quarter ended June 30, 2026, confirms that the company is utilizing IPO proceeds in line with the objects mentioned in the offer document. There were no deviations observed.

Operational and Project Updates

Factory 3.0 Construction

The company reported a shift in the production start timeline for its Factory 3.0 project in Maharashtra. The commencement of the first phase of production has moved from July 2026 to October 2026. This delay is attributed to the requirement for environmental clearance approvals, which were not originally anticipated at the time of the prospectus filing. Management maintains that the overall completion timeline for all project phases remains March 2027.

Expenditure Deferrals

To optimize cash management and business conditions, the company has deferred certain planned expenditures:

• Marketing Initiatives: ₹59.56 crore earmarked for FY 2025-26 has been deferred and will be deployed in FY 2026-27.
• General Corporate Purposes (GCP): Deployment of ₹140.30 crore has been deferred from FY 2025-26 to FY 2026-27.

Deployment of Unutilized Proceeds

The company has deployed its unutilized IPO funds primarily in various fixed deposits. During the quarter ended June 30, 2026, the company earned ₹12.66 crore on these unutilized proceeds. Returns on these instruments vary between 6.50% and 7.75%.

Investor Takeaway

For investors, the key takeaways are the continued adherence to the planned usage of IPO proceeds and the slight operational delay in the Factory 3.0 project. While the production start has shifted to October 2026, management has reaffirmed that the overall project completion timeline remains unchanged. The decision to defer marketing and GCP funds appears to be a strategic move for cash optimization. Investors should monitor the progress of the Factory 3.0 commissioning to ensure the October 2026 timeline is met.

AGM and Meeting Details

Ather Energy Limited has formally scheduled its 13th Annual General Meeting (AGM). The meeting is set to take place on Wednesday, August 19, 2026, starting at 11:00 AM (IST). In line with modern corporate governance practices, the meeting will be conducted via Video Conferencing (VC) and Other Audio Visual Means (OAVM).

Shareholder Communication and Compliance

The company has completed the dispatch of physical letters to shareholders who had not registered their email addresses with the company or its depositories as of the cut-off date of July 24, 2026.

These letters provide shareholders with the necessary information, including the web-link and access path on the company's website, to view:

• The Notice of the 13th Annual General Meeting.
• The Annual Report for the financial year 2025-26.

This action ensures compliance with Regulation 30 and Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Important Information for Shareholders

Shareholders who have not yet registered their email addresses are encouraged to do so through their depository participants to ensure they receive future communications and corporate updates electronically.

What This Means for Investors

This update is a procedural governance announcement. The scheduling of the AGM is a routine annual requirement for all listed companies. Investors should note the date for the AGM, as this provides a forum for shareholder participation and oversight regarding the company's performance and strategic direction for the fiscal year 2025-26. No immediate financial or operational impact is associated with this disclosure.

Key Highlights

Financial Snapshot

Revenue and Profitability Analysis

The company witnessed strong revenue growth, with operations generating ₹1,216.92 crore in Q1 FY27 compared to ₹644.58 crore in Q1 FY26. This 89% growth was supported by an 81% increase in wholesale volumes to 83,000 units.

A significant milestone for the quarter was the shift to positive EBITDA of ₹9.45 crore, representing a 1% margin. This compares favorably against the negative EBITDA margin of 16% reported in Q1 FY26. Consequently, the company's net loss narrowed to ₹51.09 crore from a loss of ₹178.23 crore in the same quarter last year.

Operations and Capacity Expansion

Ather Energy is actively working to address demand through supply chain and capacity improvements. Key operational updates include:

• Capacity Expansion: Factory 3.0 at Chhatrapati Sambhaji Nagar is on track for the third quarter of FY27. This expansion is critical to capturing the company's estimated unrealized retail potential of 13,000–15,000 units per month.
• New Product Launch: The company is scheduled to launch its new 'EL' scooter platform on August 29, 2026, at the Ather Community Day.
• Inventory Efficiency: Dealer stock levels were optimized significantly, reducing to 3 days in Q1 FY27 from 14 days in Q4 FY26, indicating improved working capital efficiency.

Concerns and Watch Points

Investor Takeaway

Q1 FY27 marks a period of significant progress for Ather Energy, characterized by robust top-line growth and a return to positive EBITDA. The expansion of market share to 16.8% and the optimization of dealer stock reflect improved execution. Investors should track the upcoming launch of the 'EL' scooter platform and the successful commissioning of Factory 3.0, as these are primary drivers for future revenue growth and market penetration. While commodity-led margin pressure remains a key watch point, the company's structural improvements indicate resilience.

Key Highlights

Financial Snapshot

Revenue and Income Analysis

Consolidated total income reached ₹1,260 crore, reflecting an 87.2% YoY growth. This performance was driven by volume expansion, calibrated pricing actions, and an increasing contribution from non-vehicle sources, which now account for 14% of revenue from operations compared to 13% in the year-ago quarter.

Profitability Analysis

Ather reached a significant operational milestone by turning EBITDA positive at ₹9 crore in Q1 FY27, compared to an EBITDA loss of ₹106 crore in Q1 FY26. This reflects a substantial improvement of 1,650 bps. Consequently, the consolidated net loss narrowed significantly to ₹51 crore from ₹178 crore in the corresponding quarter last year.

Business and Operations

• Demand: Demand remains a key highlight, with the company noting that it continues to outstrip supply. Ather delivered 83,173 units in the quarter, an 80.5% YoY increase. Pre-orders reached 150,000 units, growing 158% YoY.
• Capacity Expansion: Factory 3.0 at AURIC remains on track, with Phase 1 (500,000 units capacity) expected to commence production in Q3 FY27.
• New Product Platform: The company is preparing to launch its first product on the new EL platform on August 29, 2026, aimed at a wider customer base.

Risks and Watch Points

• Commodity Costs: Management noted headwinds from commodity inflation, specifically impacting costs for copper, aluminium, lithium, and crude-linked materials. The company is managing these impacts through value engineering, improved product mix, and pricing actions.

What This Means for Investors

The results indicate that Ather Energy is effectively scaling operations, evidenced by the turnaround to positive EBITDA and significant top-line growth. The widening gap between demand (indicated by strong pre-orders) and available production capacity is a key focal point, with upcoming factory expansions and new platform launches expected to address this in the coming quarters.

Investor Takeaway

Ather Energy's Q1 FY27 results highlight strong operational scaling and a successful pivot to positive EBITDA. Investors should monitor the progress of Factory 3.0 commissioning and the commercial success of the upcoming EL platform product, as these are critical for meeting the sustained high demand identified by the company.

Key Highlights

Corporate Action Details

In a recent board meeting, Ather Energy Limited approved the allotment of 3,67,875 equity shares. These shares were issued to eligible employees who exercised their stock options under the Ather Energy ESOP 2025 Plan. The newly allotted shares rank pari-passu with the existing equity shares of the company.

Share Capital Impact

The allotment of these shares has resulted in a change in the company's paid-up share capital. The total number of equity shares increased to 39,44,93,184 from the pre-allotment count of 39,41,25,309.

Investor Takeaway

This announcement is a routine administrative filing detailing the execution of an existing employee stock option plan. Such allotments are common and serve as an incentive mechanism for employees. For investors, this represents a marginal increase in the equity base of the company. No significant financial impact or strategic shift is indicated by this corporate action.

Key Highlights

ESOP Terms

Corporate Governance Update

The Board of Directors of Ather Energy Limited approved the grant of 80,223 Employee Stock Options (ESOPs) during their meeting on August 03, 2026. The meeting commenced at 11:00 AM (IST) and concluded at 03:00 PM (IST). The ESOP plan is administered by the Nomination and Remuneration Committee of the company, and these grants are in accordance with the ESOP plan previously approved by shareholders.

Investor Takeaway

This announcement is a routine update regarding the company's employee compensation and incentive strategy. The grant of 80,223 stock options is a standard administrative procedure under the existing ESOP 2025 plan. Investors should note that each option grants the right to apply for one equity share at an exercise price of ₹1 per share. There is no immediate financial impact or change in operational strategy arising from this disclosure. For shareholders, this update provides clarity on the ongoing administration of the company's employee benefit programs.

Key Highlights

Financial Snapshot

Strategic Developments

• Insurance Business Entry: The company incorporated a wholly-owned subsidiary, Ather Insurance Limited, which intends to act as a Corporate Agent for insurance products. This is aimed at leveraging the existing user base to create a recurring revenue stream.
• Supply Chain Resilience: The Board approved the incorporation of a Hong Kong-based wholly-owned subsidiary to support critical procurement functions and enhance supply chain resilience in the Asia-Pacific region.
• Capital Raising: The company completed a Qualified Institutions Placement (QIP) of ₹1,300 crore post-quarter. Furthermore, the Board has approved additional fundraising of up to ₹1,200 crore via equity shares and convertible warrants.

Risks and Watch Points

• Regulatory Uncertainty: The company noted that the Battery Waste Management Rules, 2022 create ongoing obligations. Management stated it is currently unable to reliably estimate the range of possible outcomes or financial impact regarding these environmental compliance costs.

What This Means for Investors

Ather Energy's latest results indicate a strong growth phase, characterized by significant revenue expansion and a notable narrowing of losses. The company is simultaneously engaging in aggressive capital raising to bolster its balance sheet. The push into the insurance sector via a new subsidiary represents a strategic effort to diversify revenue beyond automotive sales. Investors should track the operational commencement of the insurance unit and monitor how the company manages regulatory obligations related to battery waste management.

Investor Takeaway

The Q1 FY2027 results show a positive trend in financial health, with revenue nearly doubling year-on-year and losses significantly reduced. The dual strategy of securing supply chains through international subsidiaries and diversifying revenue through financial services (insurance) signals a maturing business model. With significant capital inflows secured from the QIP and proposed future funding, the company appears focused on scaling operations. Investors should focus on the execution of these strategic pivots and observe how regulatory compliance costs evolve over time.

Financial Snapshot

Revenue and Profitability Analysis

The company witnessed strong top-line growth, with revenue from operations reaching ₹1,216.92 crore, nearly doubling from the ₹644.58 crore reported in the same quarter last year. This operational expansion has also contributed to a significant improvement in the bottom line. The consolidated net loss reduced substantially to ₹51.09 crore for the quarter ended June 30, 2026, compared to a loss of ₹178.23 crore in the quarter ended June 30, 2025.

Corporate Action and Fundraising

• QIP Completion: Subsequent to the quarter, the company allotted 1,08,15,307 equity shares via a Qualified Institutions Placement at ₹1,202 per share, aggregating to ₹1,300 crore.
• Board Approved Fundraising: On July 15, 2026, the Board approved raising up to ₹1,200 crore. This includes issuing up to 16,26,016 equity shares at ₹1,230 per share (₹200 crore) and up to 79,36,507 convertible warrants at ₹1,260 per warrant (₹1,000 crore).
• ESOPs: The company allotted 3,67,875 equity shares to eligible ESOP holders and granted 80,223 new options.

Business and Subsidiary Update

• Ather Insurance Limited: The company incorporated a wholly-owned subsidiary, Ather Insurance Limited, on May 27, 2026. This subsidiary intends to act as a corporate agent to facilitate insurance policies, aiming to streamline insurance offerings and create a recurring revenue stream by leveraging the existing user base. Operations are pending IRDAI registration.

Concerns and Watch Points

Investor Takeaway

Ather Energy's results highlight a period of robust growth, with a nearly 89% increase in revenue year-on-year and a marked reduction in losses. The strategic incorporation of an insurance subsidiary suggests a move toward diversifying revenue streams. Investors should continue to monitor the company's capital deployment following the significant QIP and approved fundraising, as well as any clarity that emerges regarding regulatory liabilities associated with battery waste management.

Key Highlights

Important Figures Used

Corporate Action Details

Ather Energy Limited has initiated the grant of 1,055 employee stock options under its ESOP 2025 scheme. This action was approved by the Nomination and Remuneration Committee on August 02, 2026.

Key terms of the grant include:

• Eligibility: The options are granted to eligible employees of the company.
• Exercise Rights: Each vested option confers the right to apply for one equity share of the company.
• Exercise Price: The exercise price for these options is set at INR 1 per ESOP.
• Administration: The scheme is administered by the Nomination and Remuneration Committee and complies with SEBI (SBEB) Regulations, 2021, and other applicable SEBI listing obligations.

Board Decision or Meeting Update

The grant was approved during a meeting of the Nomination and Remuneration Committee held on August 02, 2026. The meeting commenced at 02:25 PM IST and concluded at 04:20 PM IST.

What This Means for Investors

This announcement is a procedural corporate governance update. The grant of 1,055 stock options is a routine incentive mechanism common for companies to attract and retain talent. Given the small scale of the grant relative to the company's total equity base, this update does not carry material financial implications for existing shareholders.

Investor Takeaway

For investors, this filing serves as a routine disclosure of corporate housekeeping. No immediate financial impact is expected. Shareholders may view this as part of the company’s standard human resources and compensation policy management.

Key Highlights

Legal or Regulatory Update

The company has completed the statutory requirement of publishing newspaper advertisements to confirm that the Notice for the 13th Annual General Meeting (AGM) and the Annual Report for FY 2025-26 have been dispatched to shareholders. This filing was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations.

The advertisement includes essential meeting details, including information on the e-voting process for shareholders. The full notice and related documents are available on the company's official website.

What This Means for Investors

This is a standard corporate filing related to the upcoming Annual General Meeting. Investors and shareholders should refer to the company's website for the full AGM notice, Annual Report, and e-voting instructions to participate in the upcoming shareholder meeting process. There is no new financial or operational data contained within this filing.

Key Highlights

Financial Snapshot

Margin Analysis

Strategic Developments

Ather Energy is actively scaling its infrastructure to support future growth. Construction of Factory 3.0 in Chhatrapati Sambhajinagar is underway. This facility has a total planned capacity of 10 lakh units per annum, with Phase 1 expected to contribute 5 lakh units, commissioning in FY27.

The company also observed a significant reduction in reliance on subsidies, with subsidy contribution to revenue declining to 3% in FY26 from 6% in FY25 and 16% in FY24.

Operational Footprint

The company aggressively expanded its physical footprint, doubling its Experience Centres from 351 in FY25 to 700 in FY26. Additionally, the service network expanded from 277 centres to 548 centres during the same period.

What Looks Positive

Concerns and Watch Points

Investor Takeaway

Ather Energy demonstrated a strong trajectory in FY26, characterized by significant revenue growth, narrowing losses, and a deliberate move toward operational self-sustainability. The company's focus on its software-defined ecosystem and vertically integrated supply chain has provided resilience against supply chain shocks, such as the magnet supply issue encountered in Q2. Investors should continue to monitor the progress of Factory 3.0, the successful commercialization of the upcoming EL platform, and the company's ability to maintain margins as subsidy support continues to be rationalized.

Key Highlights

Financial Snapshot

Financial Performance

Revenue from operations reached ₹3,671.76 crore in FY26, a 63% year-on-year increase from ₹2,255.01 crore. This growth was primarily driven by higher sales volumes, with 262,942 vehicles sold during the year. Profitability also saw improvement; the company successfully narrowed its net loss to ₹(517.17) crore from ₹(812.28) crore in the previous year. EBITDA losses halved, improving to (7)% from (23)% in FY25.

Margin Analysis

Adjusted gross margins improved to 24% in FY26 compared to 19% in FY25. This structural improvement in unit economics was driven by internal R&D-led cost optimization, value engineering, and economies of scale.

Cost and Expense Analysis

Total expenses for FY26 were ₹4,335.21 crore compared to ₹3,117.50 crore in FY25. Cost of materials consumed remained the largest expense item at ₹2,808.15 crore, reflecting the scaling of production. Finance costs decreased to ₹82.20 crore from ₹110.62 crore in FY25, following the repayment of high-cost borrowings.

Corporate Action Details

The company has re-appointed Deloitte Haskins & Sells, Chartered Accountants, as statutory auditors for a second term of five years. Additionally, the board approved the extension of the 'Amended and Restated Ather Energy ESOP Plan 2025' to employees of subsidiary companies.

Order Win or Business Update

• Factory 3.0: Construction is underway in Chhatrapati Sambhajinagar, with Phase 1 targeting 5 lakh units annual capacity by FY27. Total planned capacity is 10 lakh units.
• EL Platform: The company unveiled the EL platform to address the mass-market segment (₹1 lakh – ₹1.25 lakh).
• Distribution: Retail network expanded to 700 experience centres and 548 service centres.

What Looks Positive

• Operating Performance: The company generated positive operating cash flow for the first time.
• Scaling: Revenue growth of 63% YoY with a substantial reduction in net losses.
• Efficiency: Adjusted gross margin expansion to 24% and improved EBITDA margin.

Concerns and Watch Points

• Loss-making: Despite narrowing, the company continues to report net losses.
• Supply Chain: Input cost volatility, particularly lithium-ion and rare-earth magnet prices, remains a factor to monitor.
• Regulatory: Evolving EV subsidy frameworks continue to be an ongoing risk factor.

What This Means for Investors

Ather Energy's results indicate a focus on operational scaling and structural cost improvement following its listing. The improvement in adjusted gross margins and the move toward positive operating cash flow are key indicators of progress. Investors should continue to monitor the progress of Factory 3.0 and the market response to the upcoming EL platform, which is critical for tapping the mass-market segment.

Investor Takeaway

Ather Energy demonstrated significant growth in FY26, with revenue scaling by 63% and net losses narrowing by 36%. With the successful launch of the Ather Rizta and progress on the EL platform, the company is positioning itself to expand its total addressable market. Key milestones for the coming year include the commissioning of Factory 3.0 and the continued execution of its asset-light retail expansion strategy.

Earnings Conference Call Scheduled

Ather Energy Limited has officially announced the schedule for its earnings conference call to discuss the company's financial performance for the first quarter of fiscal year 2027 (Q1FY27). The conference call is scheduled for Monday, August 03, 2026, at 04:00 PM IST.

This call is set to take place immediately following a Board of Directors meeting scheduled for the same day. Investors and stakeholders should note that the schedule is subject to change based on business exigencies.

Management Participation

The earnings conference call will feature key members of the management team who will address queries regarding the quarter's performance:

• Tarun Sanjay Mehta: Executive Director & CEO
• Sohil Dilipkumar Parekh: Chief Financial Officer

Investor Participation

The company has provided options for investors to participate in the call. Participants may join using global dial-in numbers provided for India, Singapore, the UK, Hong Kong, and the USA. Alternatively, the company has made an option available for participants to pre-register and join the session directly without operator assistance.

For investors, this conference call serves as a key opportunity to gain direct insights from management regarding the Q1FY27 financial results and the company's operational outlook.

Board Meeting Notice. Ather Energy Limited has issued a formal notification regarding a meeting of its Board of Directors scheduled for August 3, 2026. The primary purpose of this meeting is for the board to review and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. ## Regulatory Compliance. This intimation is provided in accordance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This ensures that the company remains compliant with transparency requirements regarding the disclosure of financial information to the stock exchanges and the public. ## Investor Takeaway. This filing represents a routine corporate governance event signaling the impending release of quarterly financial results. Investors and market participants monitoring the company's performance should watch for the official outcome of the August 3, 2026, board meeting to access the reported financial figures.

Annual General Meeting Notice

Ather Energy Ltd has published an advertisement in newspapers notifying shareholders of the company's 13th Annual General Meeting (AGM). The notice confirms that the meeting will be held through Video Conferencing or Other Audio Visual Means, adhering to current regulatory guidelines for virtual corporate gatherings.

Regulatory Compliance

The notice was published on July 23, 2026, in the following newspapers:

• Financial Express (English)
• Vishwavani (Kannada)

This filing is in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparent communication with shareholders regarding statutory meetings.

Investor Information

Shareholders are requested to visit the company’s official website to access the full advertisement and other requisite information related to the AGM. The company has ensured that the details are readily accessible to maintain transparency.

Investor Takeaway

This is a standard corporate governance update. No financial or operational impacts are associated with this announcement. Shareholders should monitor the company's website for the formal agenda and any specific instructions related to attending the AGM.

Shareholding Update

SBI Mutual Fund, acting under its various schemes, has reduced its equity stake in Ather Energy Ltd. The transaction, conducted as a market sale, involves the disposal of 6,16,733 shares.

Holding Position

The following table outlines the change in shareholding for SBI Mutual Fund following the transaction:

Context

The filing notes that this transaction is part of a broader trend in the fund's holdings. The company highlighted that the shareholding of SBI Mutual Fund has cumulatively decreased by 2% since the previous disclosure provided on May 06, 2025. These disclosures are mandatory under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, providing transparency regarding substantial changes in institutional ownership.

What This Means for Investors

Institutional divestments like this are generally considered part of standard portfolio management and rebalancing strategies by mutual funds. Such moves are often based on the internal investment mandates or performance tracking of the fund rather than a reflection of Ather Energy's specific operational health or business outlook. Investors often monitor these movements to gauge institutional sentiment, but such transactions are typically viewed as routine market activity.

Investor Takeaway

For existing shareholders, this update confirms a reduction in the stake held by a major institutional investor. As there is no management commentary suggesting distress or operational issues, the event should be viewed as a routine rebalancing of the investor's portfolio. Investors should continue to monitor future disclosures regarding significant shareholder movements and focus on the company's core operational updates and financial performance for a clearer view of its trajectory.

Annual General Meeting Details

Ather Energy Limited has formally notified the exchange regarding the scheduling of its 13th Annual General Meeting (AGM). The meeting is set to take place on Wednesday, August 19, 2026, at 11:00 a.m. (IST).

In adherence to relevant guidelines from the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI), the company will conduct the meeting through Video Conferencing (VC) or Other Audio Visual Means (OAVM).

Access to Annual Report

The company has confirmed that the Annual Report for FY26, alongside the AGM Notice and other related documents, will be distributed in electronic mode. These documents will be sent to members who have registered their email addresses with the company, its Registrar and Transfer Agent (RTA), or their respective Depository Participants (DPs).

Additionally, the Annual Report and the notice for the meeting will be made available for download on the investor relations section of the company's official website.

Key Highlights

Corporate Action Details

Ather Energy Limited has initiated the process for an Extraordinary General Meeting (EGM) by dispatching notices to its shareholders. The company has fulfilled its regulatory obligation to publish this information in leading newspapers. The published advertisements confirm that the notice of the meeting, along with instructions for e-voting and other requisite shareholder information, has been disseminated. The complete details of the EGM are also available on the company's official website.

What This Means for Investors

This filing is a routine procedural compliance matter. Shareholders should refer to the full notice, available on the company's investor relations portal, to understand the agenda of the Extraordinary General Meeting and to ensure they follow the correct procedure for e-voting if they intend to participate.

Investor Takeaway

This is a standard corporate governance update. Investors interested in participating in the upcoming EGM should review the notice for meeting dates and voting instructions. No immediate impact on company fundamentals or stock valuation is expected from this filing.

Key Highlights

Ather Energy Limited has concluded its Qualified Institutions Placement (QIP), raising significant capital to support its business objectives. The Fund Raise Committee of the Board approved the allotment of over 1.08 crore equity shares to institutional buyers.

Financial Snapshot

The fundraising exercise has increased the company's paid-up equity share capital base.

Corporate Action Details

The company conducted this QIP under the provisions of Chapter VI of the SEBI (ICDR) Regulations, 2018, and relevant sections of the Companies Act, 2013. The allotment process, which concluded on July 20, 2026, saw participation from multiple qualified institutional buyers.

The issue price of ₹1,202 per share includes a premium of ₹1,201 per share over the face value of ₹1, indicating investor confidence in the valuation at the time of issuance.

Major Investor Participation

The placement attracted significant interest from several prominent institutional investors. Notable participants who were allotted more than 5% of the total issue size include:

• HDFC Trustee Company / Mutual Fund
• Aditya Birla Sun Life Mutual Fund
• Axis Mutual Fund
• Edelweiss Trusteeship / Mutual Fund
• Tata Retirement / Multicap Funds
• Motilal Oswal Funds
• Abu Dhabi Investment Authority

What This Means for Investors

For existing shareholders, this QIP represents a dilution of equity, as the number of outstanding shares has increased from 38.33 crore to 39.41 crore. While dilution often lowers earnings per share (EPS) in the immediate term, the infusion of approximately ₹1,300 crore provides the company with substantial liquidity. Investors should track how the company allocates this fresh capital and whether it leads to accelerated business expansion or product development.

Investor Takeaway

Ather Energy has successfully secured a large capital infusion, demonstrating strong backing from institutional investors. The fundraising process complied with regulatory standards. Investors should now focus on the management's capital expenditure plans and future growth performance, while remaining aware of the dilution impact on their equity stake.

Key Highlights

Corporate Action Details

The Fund Raise Committee of Ather Energy Limited officially declared the closure of the Qualified Institutional Placement (QIP) on July 20, 2026. The committee confirmed the receipt of funds in the escrow account and approved the final allocation note to be issued to the eligible qualified institutional buyers (QIBs). This action follows the adoption of the placement document dated July 20, 2026.

Financial and Pricing Analysis

The company determined the issue price at INR 1,202 per share. This price was set higher than the regulatory floor price of INR 1,169.70 per share, adhering to the pricing formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations. The allotment included a premium of INR 1,201 per share over the face value of INR 1.

What Looks Positive

What This Means for Investors

The successful conclusion of the QIP serves as a key liquidity event for the company, ensuring fresh capital is available for future operational needs. The fact that the issue was fully subscribed and priced above the floor suggests stable institutional interest. Investors should continue to track how the company utilizes these proceeds and monitors subsequent disclosures regarding operational deployment.

Investor Takeaway

Ather Energy has effectively executed its capital raising plan, which is a neutral-to-positive development for shareholders as it strengthens the balance sheet. Key factors to observe going forward include the actual utilization of the raised funds for business growth and any resulting impact on the company's financial health in the upcoming quarters.

Meeting Notice Overview

Ather Energy Limited has issued a public notice regarding its upcoming Extraordinary General Meeting (EGM). The advertisement was published in multiple newspapers to ensure shareholders are duly notified of the meeting arrangements.

Board Decision or Meeting Update

The company has formally notified its shareholders about the upcoming EGM. The meeting will be conducted via electronic means, specifically Video Conferencing or Other Audio Visual Means. This filing follows standard regulatory requirements under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

What This Means for Investors

This filing is a routine procedural update. It ensures that shareholders receive official notification regarding the EGM schedule and the mode of attendance. Investors should monitor future company disclosures for the specific agenda items that will be discussed during this meeting, as those may have implications for corporate governance or strategic business decisions.

Investor Takeaway

This is a routine administrative compliance update regarding an Extraordinary General Meeting. No financial results or operational performance data were disclosed in this filing. Shareholders interested in company governance should note the meeting format and await further official communication regarding the specific agenda items to be deliberated at the meeting.

Key Highlights

Important Figures Used

Utilization of Proceeds

The company plans to deploy the ₹1,200 crore raised from the preferential issue for the following purposes:

Financial and Strategic Implications

• Debt Reduction: The company has earmarked ₹625 crore for the repayment or pre-payment of its outstanding debt. As of June 30, 2026, the company reported outstanding borrowings of ₹893.69 crore. This repayment is expected to improve the company's debt position.
• Capital Infusion: The preferential issue involves a mix of equity shares and convertible warrants. The warrants allow for infusion in a staggered manner over an 18-month period, providing flexibility in capital management.
• Promoter Participation: The warrant issuance includes participation from promoters Hero MotoCorp Limited, Mr. Tarun Sanjay Mehta, and Mr. Swapnil Babanlal Jain, demonstrating their continued commitment to the company.
• Governance: Given the size of the issue, the company has appointed CARE Ratings Limited as the monitoring agency to oversee the utilization of proceeds, which is a standard governance requirement for large issues.

Concerns and Watch Points

What This Means for Investors

The proposed preferential issue is a strategic move to clean up the balance sheet by reducing debt and providing funds for marketing and general corporate needs. For investors, the key focus should be on the effective utilization of these funds and the impact of the equity dilution caused by the issuance of new shares and the potential conversion of warrants. The involvement of external institutional investors like the India Japan Fund alongside promoters is a notable development.

Investor Takeaway

Ather Energy is moving to bolster its financial position through a ₹1,200 crore preferential issue. With over 50% of the proceeds dedicated to debt reduction, this move aims to improve the company’s capital structure. Investors should track the progress of this fundraising and the monitoring agency's reports to ensure funds are utilized as intended. The potential for future equity dilution from warrant conversion remains a factor to monitor in the long term.

Key Highlights

• Corporate Action: Board approved the opening of a Qualified Institutional Placement (QIP).
• Pricing: Floor price fixed at ₹1,169.70 per equity share.
• Pricing Flexibility: Company may offer a discount of up to 5% on the floor price.

Important Figures

Corporate Action Details

The Board of Directors of Ather Energy has officially authorized the opening of the Qualified Institutional Placement (QIP) issue as of July 15, 2026. This follows the special resolution passed by shareholders on July 14, 2026. The company has adopted the preliminary placement document and is inviting bids from eligible qualified institutional buyers.

The floor price for the issue has been set at ₹1,169.70 per share, adhering to SEBI ICDR regulations. The final issue price will be determined in consultation with the appointed book-running lead managers, with the board retaining the discretion to offer a discount of up to 5% on the floor price.

What This Means for Investors

The initiation of a QIP is a standard mechanism for raising growth capital. While this will lead to the issuance of new equity and potential dilution for existing shareholders, the capital is typically intended to fund business expansion. Investors should track the final pricing and the deployment strategy of the raised funds.

Investor Takeaway

Ather Energy has moved to raise capital through a QIP process, marking a significant step in its financial strategy. The set floor price of ₹1,169.70 provides a baseline for valuation, with market participants likely to watch for the final pricing outcome. Existing shareholders should note the potential equity dilution and monitor further disclosures regarding the utilization of proceeds.

Key Highlights

Ather Energy has provided supplementary details regarding the pricing for its proposed preferential issue. The pricing reflects a premium over the mandatory floor price calculated under ICDR regulations.

Corporate Action Details

The Board of Directors approved the preferential issue of equity shares and convertible warrants. The company clarified the following valuation details:

• Equity Shares: Issued to the India-Japan Fund, a qualified institutional buyer. The approved price of ₹1,230 per share represents a premium of ₹54.26 over the regulatory floor price of ₹1,175.74.
• Convertible Warrants: Issued to promoters, specifically Hero MotoCorp Limited, Mr. Tarun Sanjay Mehta, and Mr. Swapnil Babanlal Jain. These are convertible into equity shares. The approved issue price is ₹1,260 per share upon conversion, representing a premium of ₹84.26 over the floor price of ₹1,175.74.

The floor prices were determined in accordance with Regulation 164(4) and 164(1) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

What Looks Positive

The company is issuing both equity shares and convertible warrants at a premium to the calculated regulatory floor price. This indicates that both the institutional investor (India-Japan Fund) and the promoters (including Hero MotoCorp) are subscribing at a price higher than the mandatory minimum required by SEBI regulations, signaling confidence in the company's valuation.

What This Means for Investors

This update provides clarity on the valuation and structure of the company's capital raise. For existing investors, this confirms that the preferential issue is being executed in compliance with regulatory standards and that the issue prices for key stakeholders are above the regulatory floor, which generally implies alignment on valuation.

Investor Takeaway

Ather Energy has successfully clarified the pricing for its preferential share and warrant issue. By setting these prices at a premium to the regulatory floor, the company demonstrates support from both institutional and promoter groups. Investors should note this as a formal procedural update that confirms the valuation terms of the approved capital infusion.

Key Highlights

Ather Energy Ltd has received board approval to raise ₹1,200 crore through a preferential issuance of securities. This move involves participation from institutional investors and promoters, aiming to bolster the company's capital base.

Important Figures Used

Corporate Action Details

The board has approved the preferential issuance on the following terms:

• Equity Shares: 16,26,016 equity shares are to be issued to the India-Japan Fund (IJF) at a price of ₹1,230 per share.
• Convertible Warrants: 79,36,507 warrants are to be issued to Hero MotoCorp Ltd, Mr. Tarun Sanjay Mehta, and Mr. Swapnil Babanlal Jain. Each warrant is priced at ₹1,260.
• Warrant Terms: Warrant holders are required to pay 25% of the issue price at the time of allotment, with the remaining 75% payable upon exercise of conversion options. The warrants have a tenure of 18 months from the date of allotment.

Allottee Breakdown

Risks and Watch Points

• Approval Risk: The preferential issue is subject to shareholder approval through a special resolution at an Extra-Ordinary General Meeting (EGM) and other necessary statutory/regulatory clearances.
• Warrant Forfeiture: If the warrants are not converted within the 18-month tenure, they will lapse, and the amounts already paid by the warrant holders will be forfeited.

What This Means for Investors

The approved preferential issue demonstrates significant capital backing from both an institutional investor (India-Japan Fund) and existing promoters (Hero MotoCorp and company management). This ₹1,200 crore infusion is expected to strengthen the balance sheet. Investors should monitor the upcoming EGM for formal approval and subsequent timelines for the allotment process.

Investor Takeaway

Ather Energy's board approval for a ₹1,200 crore fundraise is a notable development indicating strategic support. The structure includes both direct equity and convertible warrants, aligning the interests of promoters and institutional participants. While the capital raise is positive for long-term growth, investors should track the successful completion of shareholder approvals and, in the longer term, the conversion of warrants as they reach maturity.

Key Highlights

Important Figures Used

Corporate Action Details

The Board of Directors of Ather Energy Limited has approved the raising of funds aggregating up to ₹1,200 crore on a preferential basis. The issuance comprises:

• Equity Shares: 16,26,016 fully paid-up equity shares at an issue price of ₹1,230 per share (including a premium of ₹1,229) to India-Japan Fund.
• Convertible Warrants: 79,36,507 convertible warrants at an issue price of ₹1,260 per warrant (including a premium of ₹1,259). These are allocated to Hero MotoCorp Limited and promoters Mr. Tarun Sanjay Mehta and Mr. Swapnil Babanlal Jain.

Transaction Details

• Warrant Terms: The warrants have a tenure of 18 months from the date of allotment. Investors are required to pay 25% of the warrant issue price upfront at the time of subscription, with the remaining 75% payable upon the exercise of conversion into equity shares.
• Conversion: Each warrant is convertible into one equity share of the company. Any unconverted warrants after the 18-month period will lapse, and the deposits made will be forfeited.
• Approvals: The transaction is subject to the approval of shareholders at an Extra-Ordinary General Meeting (EGM).

Concerns and Watch Points

• Shareholder Approval: The proposed fundraise is subject to necessary statutory and shareholder approvals. Investors should monitor the outcome of the upcoming EGM.
• Trading Window: The trading window for dealing in company securities remains closed for designated persons and their immediate relatives in compliance with insider trading regulations.
• Warrant Forfeiture: The 18-month tenure for warrants implies a specific timeline for capital infusion. If warrants are not converted, the amounts paid are forfeited, which investors should track regarding the company's long-term capital plan.

What This Means for Investors

This capital infusion signals continued strong support from both the company's existing strategic partner (Hero MotoCorp) and its promoters, as well as institutional interest from the India-Japan Fund. The structure involving both equity and warrants suggests a commitment to long-term funding requirements.

Investor Takeaway

Ather Energy is strengthening its balance sheet through a significant preferential issue. The participation of key strategic investors and promoters is a positive signal for business outlook. Existing shareholders should track the upcoming EGM for formal approval of the issue and monitor the conversion progress of the warrants over the next 18 months to understand the eventual dilution and total capital inflow.

Financial Snapshot

Revenue and Income Analysis

Revenue from operations showed strong growth, rising to ₹3,671.76 crore in FY 2026 from ₹2,255.01 crore in FY 2025. This 63% increase reflects the company's expanding market presence.

Profitability Analysis

The company moved closer to operational efficiency, reporting a loss of ₹517.17 crore for the year ended March 31, 2026, compared to a loss of ₹812.28 crore in the previous fiscal year. Basic EPS improved to (₹13.99) compared to (₹32.24) in the prior year.

Balance Sheet and Debt Position

Total assets rose to ₹4,721.51 crore from ₹2,100.61 crore, a shift driven largely by the capital influx from the company's IPO during the year. Equity also rose, reflecting this capital raise.

What Looks Positive

• Strong Top-line Growth: Revenue increased by over 60% year-over-year.
• Reduced Losses: The narrowing of the annual net loss indicates improved operational scale and efficiency.
• Balance Sheet Strength: The successful IPO has significantly expanded the asset base, providing liquidity for future capital expenditures.

Concerns and Watch Points

• Supply Chain Risks: Geopolitical tensions led to an export ban on certain rare earth magnets, which impacted operations and forced a revenue recognition deferral of ₹24.52 crore on specific vehicles.
• Litigation: The company is managing a GST demand of ₹59.81 crore. While management does not expect the demand to materialize, it remains a pending legal matter.

Number Relationship Analysis

Revenue growth outpacing the increase in overall expenses contributed to the reduced net loss compared to the previous year. The significant increase in total assets, despite continuing losses, indicates that the funds raised through the IPO have been instrumental in bolstering the company's financial position.

What This Means for Investors

Ather Energy is demonstrating rapid expansion, as evidenced by its revenue trajectory. The reduction in net losses suggests the company is benefiting from scale. However, investors should closely monitor the resolution of tax litigations and potential supply chain vulnerabilities that could cause near-term revenue volatility.

Investor Takeaway

Ather Energy's FY26 results show a company in a high-growth phase, characterized by significant revenue expansion and successful capital raising. While the improvement in loss figures is a positive operational signal, the ongoing tax litigation and supply chain dependencies remain key areas for investors to monitor in the coming quarters.

Key Highlights

Voting Results

Corporate Action Details

The company conducted a postal ballot to seek member approval for raising funds through the issue of equity shares via a Qualified Institutions Placement (QIP), in one or more tranches, for an aggregate amount of up to ₹1,500 crore. The results confirm that the resolution has been passed with the requisite majority.

What Looks Positive

Investor Takeaway

Ather Energy Limited has successfully cleared the shareholder approval process for its proposed fundraising of up to ₹1,500 crore through a QIP. The exceptionally high approval rate underscores strong investor confidence in the company's direction. For investors, this marks a formal step toward capital expansion, which may influence future growth capacity. Market participants should now track the company's subsequent disclosures regarding the actual deployment, timing, and pricing of the QIP issuance.

Key Highlights

Shareholders have approved the company's proposal to raise funds through a Qualified Institutions Placement (QIP). The voting process was conducted entirely via remote e-voting, concluding on July 14, 2026.

Important Figures Used

Corporate Action Details

The company sought approval from shareholders to raise capital through the issuance of equity shares via a Qualified Institutions Placement (QIP), in one or more tranches. With the resolution successfully passed by the requisite majority, the company is now authorized to proceed with this fundraising initiative. The postal ballot process ensured a fair and transparent voting mechanism, overseen by the appointed scrutinizer, Mr. Biswajit Ghosh of BMP & Co. LLP.

What This Means for Investors

The successful passing of this resolution grants management the mandate to execute the fundraising plan. For investors, this marks the commencement of the capital-raising process, which is typically intended to fuel operational expansion, research and development, or general corporate purposes, depending on the management's finalized use of funds. The overwhelming support from shareholders, reflected in the 99.9979% "in favor" vote, demonstrates strong alignment between the investors and the company's growth strategy.

Investor Takeaway

Ather Energy has successfully cleared a major procedural hurdle for its planned capital raise. With shareholders signaling strong confidence in the proposal to raise up to INR 1,500 crore, the focus for investors will now shift to the actual execution, timing, and pricing of the QIP. Market participants should monitor future announcements regarding the timeline of the issuance, the final amount raised, and any accompanying updates on capital deployment plans.

Key Highlights

Strategic Product Update

Ather Energy has announced the fourth edition of its Community Day, scheduled for August 29, 2026. The core of this announcement is the unveiling of the first vehicle built on the company's new 'EL' platform.

Management describes this as a significant milestone, enabling a strategic transition from a performance-oriented focus (Ather 450) and family convenience line (Ather Rizta) into the broader mass-market scooter segment. The EL platform is specifically engineered to improve versatility, scalability, and manufacturing efficiency, which is intended to underpin the company's future product portfolio across multiple segments.

Intellectual Property and R&D Focus

The company maintains a strong emphasis on research and development, as evidenced by its substantial intellectual property portfolio as of March 31, 2026.

What This Means for Investors

• Strategic Pivot: The entry into the ₹1 lakh to ₹1.25 lakh segment indicates a clear attempt to scale by addressing the mass market, which is a larger total addressable market compared to the premium performance segment.
• Operational Efficiency: The development of the EL platform suggests a focus on manufacturing efficiency, which is critical for maintaining margins in the more price-sensitive mass-market segment.
• Product Roadmap: The Community Day event on August 29, 2026, will be a key date for observing the company's future product strategy and technological roadmap.

Investor Takeaway

Ather Energy's transition toward the mass-market segment with a new vehicle architecture is a notable development for long-term growth. Investors should monitor the upcoming product launch on August 29, 2026, for further details on how the new scooter differentiates itself in a competitive price segment and how the EL platform is leveraged to manage costs and drive volume.

Board Meeting Update

Ather Energy Limited has scheduled a meeting of its Board of Directors on July 15, 2026. The primary agenda item is the consideration and approval of a proposal for fundraising.

Corporate Action Details

The company is exploring multiple avenues for capital infusion, including:

• Issuance of equity shares.
• Issuance of Foreign Currency Convertible Bonds (FCCBs).
• Other eligible instruments convertible into or exchangeable for equity shares.

The fundraising may be executed through a preferential issue or any other permissible modes, as decided by the Board in its discretion.

Trading Window Closure

The company has confirmed that the trading window for dealing in securities remains closed for designated persons and their immediate relatives, as previously intimated on June 30, 2026. This is standard compliance ahead of a material event.

What This Means for Investors

The proposed fundraising is a material development as it suggests potential equity dilution or changes in the company's financial structure. Investors should closely monitor the outcome of the board meeting for details on the amount to be raised, the type of instruments to be issued, the pricing, and the rationale behind the capital raising. The specific terms of these instruments, including conversion prices, will be critical in assessing the impact on existing shareholder value.

Investor Takeaway

Ather Energy has initiated the process for a potential fundraise. With the Board meeting set for July 15, 2026, the company will likely provide details on the quantum and nature of the capital infusion shortly after the meeting. Investors should track these disclosures to understand the long-term strategic plans and the potential impact on equity dilution.

Key Highlights

Ather Energy has responded to media queries regarding its fundraising activities. The company clarified the status of its capital raise to ensure transparency.

Corporate Action Details

The company reaffirmed that on June 12, 2026, its Board of Directors approved raising funds of up to ₹2,500 crore in aggregate. This approved amount includes a Qualified Institutions Placement (QIP) of up to ₹1,500 crore.

Furthermore, the company confirmed that it has dispatched a postal ballot to its members to facilitate the raising of funds through the issuance of equity shares via a QIP, potentially in one or more tranches. The results of this ballot will be intimated to the stock exchanges once the process concludes.

Management and Regulatory Clarification

In response to the media report titled "Ather Energy picks army of 12 investment banks ahead of capital raise," the company clarified the following:

• Undisclosed Information: The company explicitly stated that it is not aware of any information that has not been announced to the stock exchanges which could explain the movement in the trading of its equity shares.
• Material Impact: The company noted that it is not aware of any material impact of the cited media article on its business, operations, or financial position.
• Regulatory Compliance: The company emphasized its commitment to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and reiterated that all material events have been duly disclosed.

Investor Takeaway

This announcement serves as a clarification following media speculation. Ather Energy has reaffirmed its previously approved fundraising plans. Investors should note that the QIP process, supported by the postal ballot, is the primary active corporate action. The company maintains that it has fulfilled all material disclosure requirements. There is no new material information or change in the company's operational position indicated by this clarification.

Summary

• Ather Energy Limited has announced the availability of the audio recording of its earnings call.
• The call was held on May 04, 2026, and discussed the audited financial results for the quarter and financial year ended March 31, 2026.
• The audio recording can be accessed on the company's website via a provided link.

Key Numbers & Dates

• Earnings Call Date: May 04, 2026
• Financial Year End: March 31, 2026

What to Track Next

• Investors can listen to the earnings call audio recording on Ather Energy's website.

Summary

• Ather Energy presented its investor presentation for Q4 and FY ended March 31, 2026.
• The company reported significant growth in market share, reaching 18.6% in Q4 FY26.
• Unit sales saw strong YoY growth, with 83K units in Q4 FY26 and 263K units for the full year FY26.
• Key initiatives include network expansion, new model launches like Rizta, and capacity expansion with Factory 3.0.

Key Numbers & Dates

• Q4 FY26 Performance:
  • Market Share: 18.6%
  • Units Sold: 83,000 (+76% YoY)
  • Total Income: ₹1,214 Cr (+76% YoY)
  • Adjusted Gross Margin: 25% (+700 bps YoY)
  • EBITDA Margin: (2.5%) (+2,080 bps YoY)
• Full Year FY26 Performance:
  • Units Sold: 263,000 (+69% YoY)
  • Total Income: ₹3,823 Cr (+66% YoY)
  • Adjusted Gross Margin: 24%
  • EBITDA Margin: (6.7%) (+1,630 bps YoY)
  • E2W Market Share: 17.4%*
• Network & Operations:
  • Experience Centres: 700 (+2x YoY)
  • Service Centres: 548 (+2x YoY)
  • Charging Points: 6,000+
• Capacity Expansion:
  • Factory 3.0 capacity: 10 lakh units (Phase I & II)
  • Phase I Commencement: Q3 FY27

What Changes for the Business

• Significant market share gains (18.6% in Q4 FY26) and strong unit sales growth indicate expanding market presence.
• Network expansion with 700 Experience Centres and 548 Service Centres aims to deepen distribution.
• Factory 3.0, commencing in Q3 FY27 with a 10 lakh unit capacity, signifies a major step in manufacturing scalability.
• Launch of new models like Rizta and enhancement of platforms like AtherStack 7.0 cater to diverse customer needs and technological advancement.

⚠️ What Could Go Wrong (source-based)

• [Other] Forward-looking statements are based on assumptions and expectations that may not be realized, leading to actual results differing materially from projections.

Results Snapshot

• Q4 FY26 Highlights:
  • Total Income: ₹1,214 Cr (+76% YoY)
  • Units Sold: 83K (+76% YoY)
  • Adjusted Gross Margin: 25% (+700 bps YoY)
  • EBITDA Margin: (2.5%) (+2,080 bps YoY)
• FY26 Highlights:
  • Total Income: ₹3,823 Cr (+66% YoY)
  • Units Sold: 263K (+69% YoY)
  • Adjusted Gross Margin: 24%
  • EBITDA Margin: (6.7%) (+1,630 bps YoY)
  • E2W Market Share: 17.4%*

What to Track Next

• Commencement of Phase-I of Factory 3.0 in Q3 FY27.
• Performance of newly launched models like Rizta.
• Continued market share expansion across different regions.
• Impact of capacity expansion on production and sales volumes.

Summary

• Ather Energy Limited has submitted its Monitoring Agency Report for the quarter ended March 31, 2026.
• The report, issued by CARE Ratings Limited, details the utilization of the company's IPO proceeds.
• The total IPO size was Rs. 2626.00 crore.

Key Numbers & Dates

• Total IPO Size: Rs. 2626.00 crore
• Reporting Period: Quarter ended March 31, 2026
• Amount Utilized (as of Mar 31, 2026): Rs. 1008.93 crore
• Amount Unutilized (as of Mar 31, 2026): Rs. 1617.07 crore
• IPO Issue Period: April 28, 2025 to April 30, 2025
• Key Fund Allocations (Original): Capital Expenditure Rs. 927.20 crore, R&D Rs. 750.00 crore, Marketing Rs. 300.00 crore.

What Changes for the Business

• The commencement date for production at Factory 3.0 has been shifted from July 2026 to October 2026 due to a later than expected environmental clearance approval.
• Savings from revised lower issue expenses have been allocated to General Corporate Purposes (GCP).
• Rs. 140.30 crore of GCP funds have been postponed from FY25-26 to FY26-27 for optimized cash management.

⚠️ What Could Go Wrong (source-based)

• [Execution] The production commencement timeline for Factory 3.0 has been pushed from July 2026 to October 2026 due to environmental clearance approvals being obtained later than originally planned.
• [Financial] Savings from revised issue expenses have been re-allocated to General Corporate Purposes (GCP), which were originally earmarked for specific objects.

Summary

• Ather Energy reported record-breaking FY26 results, driven by strong volume growth and improved unit economics.
• Total income surged by 66% to ₹3,823 crore, while volumes grew 69% YoY to 2,62,942 units.
• Adjusted Gross Margin improved significantly to ₹925 crore (up 116% YoY), and EBITDA losses narrowed substantially.
• The company expanded its retail network to 700 Experience Centres, supporting market share gains.

Key Numbers & Dates

• Financial Year Ended: March 31, 2026
• Total Income (FY26): ₹3,823 crore (up 66% YoY)
• Volumes (FY26): 2,62,942 units (up 69% YoY)
• Adjusted Gross Margin (FY26): ₹925 crore (up 116% YoY)
• EBITDA Loss (FY26): ₹257 crore (improved from ₹531 crore in FY25)
• Q4 FY26 Volumes: 83,418 units (up 76% YoY)
• Q4 FY26 Total Income: ₹1,214 crore (up 76% YoY)
• Q4 FY26 Adjusted Gross Margin: ₹309 crore (up 149% YoY)
• Q4 FY26 EBITDA Loss: ₹30 crore (margin improved to (2.5%))
• Retail Network (End FY26): 700 Experience Centres

What Changes for the Business

• Significant expansion in retail and service network (700 ECs and 548 service centres) to support higher sales volumes.
• Growth driven by new scooter Rizta and geographic expansion, with market share increasing across India, particularly in Middle and Rest of India regions.
• Deepening ecosystem penetration with non-vehicle revenue (subscriptions, charging) contributing 13% of total income in FY26.
• Investments in Factory 3.0 at AURIC are planned to enhance scale and efficiency for future growth.

⚠️ What Could Go Wrong (source-based)

• [Other] Expectation of commodity costs to remain volatile and elevated in the short-term due to ongoing geopolitical factors.

Results Snapshot

• FY26: Total Income: ₹3,823 crore (up 66% YoY); Adjusted Gross Margin: ₹925 crore (up 116% YoY); EBITDA Loss: ₹257 crore (improved from FY25 ₹531 crore).
• Q4 FY26: Total Income: ₹1,214 crore (up 76% YoY); Adjusted Gross Margin: ₹309 crore (up 149% YoY); EBITDA Loss: ₹30 crore (margin improved to (2.5%)).

What to Track Next

• Further expansion of retail network and charging infrastructure.
• Performance of new scooter platform 'EL' and its impact on market share.
• Management of volatile commodity costs and supply chain challenges.
• Continued improvement in unit economics and margin expansion.

Summary

• Ather Energy's Board of Directors has approved the re-appointment of Deloitte Haskins & Sells as its Statutory Auditors.
• The re-appointment is for a second term of five consecutive years, starting from FY 2026-27 and ending in FY 2030-31.
• This decision is contingent upon the approval of the company's shareholders at the forthcoming Annual General Meeting (AGM).
• The Board meeting for this approval took place on May 04, 2026.

Key Numbers & Dates

• Board Meeting Date: May 04, 2026
• Re-appointment Term: Five consecutive years
• Term Commencement: Financial Year 2026-27
• Term Conclusion: Financial Year 2030-31

What Changes for the Business

• The company will continue its audit engagement with Deloitte Haskins & Sells for an additional five-year period.
• The final approval for this re-appointment rests with the company's shareholders at the upcoming AGM.

What to Track Next

• Approval of the re-appointment by shareholders at the ensuing Annual General Meeting (AGM).

📊 Performance Summary

• Reporting Period(s): Quarter and Year Ended March 31, 2026
• Unit: Amounts in ₹ crores

(A) Quarterly Results

• Standalone Total Income: ₹1,213.77 crores
• Standalone Net Loss: ₹(100.23) crores
• YoY Growth: Revenue increased by 76.47% (₹1,213.77 vs ₹687.79).

(B) Annual Results

• Standalone Total Income: ₹3,823.08 crores
• Standalone Net Loss: ₹(517.17) crores
• YoY Growth: Revenue increased by 65.84% (₹3,823.08 vs ₹2,305.22).

✅ What Looks Positive

• Robust Revenue Growth: Total annual revenue grew significantly by 65.84% year-on-year.
• Narrowing Losses: The annual net loss decreased from ₹812.28 crores in the previous year to ₹517.17 crores in the current year.
• Strong Balance Sheet: Total Equity increased from ₹492.99 crores to ₹2,572.63 crores, primarily due to the completion of a ₹2,626.00 crore IPO.
• Auditor Confidence: The statutory auditors issued an unmodified opinion for the full financial year.

⚠️ Risk Alerts & Concerns

• Continued Losses: Despite revenue growth, the company remains loss-making at both the quarterly and annual levels.
• Supply Chain Disruption: A Chinese export ban on heavy rare earth magnets impacted operations and forced deviations in manufacturing processes.
• Deferred Revenue: Due to supply chain issues affecting incentive claims, the company deferred ₹24.52 crores in revenue recognition for the year.

🧠 Investor Takeaway

Ather Energy is demonstrating rapid top-line scaling with a 65.84% jump in annual revenue and narrowing bottom-line losses. The successful IPO has provided a massive capital cushion, increasing net worth by over 5x. However, the business model is still in a loss-making phase and remains sensitive to global supply chain vulnerabilities, particularly regarding critical motor components from China.

Summary

• Ather Energy's Board met on May 4, 2026, to approve audited financial results for the year ended March 31, 2026.
• The company reported a loss before tax of ₹517.17 crore, showing improvement from the previous year's loss of ₹812.28 crore.
• M/s. Deloitte Haskins & Sells were re-appointed as Statutory Auditors for a second term of five years, pending member approval.
• The auditors issued an unmodified opinion on the FY26 financial results.

Key Numbers & Dates

• Board Meeting Date: May 04, 2026
• Financial Year End: March 31, 2026
• Audited Loss before tax (FY26): ₹517.17 crore
• Audited Loss before tax (FY25): ₹812.28 crore
• Audited Total comprehensive loss (FY26): ₹516.75 crore
• Audited Total comprehensive loss (FY25): ₹816.92 crore
• Statutory Auditors Re-appointment Term: 5 years
• IPO Proceeds: ₹2,626.00 crore (proposed), ₹1,008.93 crore (utilized as of March 31, 2026)

What Changes for the Business

• The company's financial performance shows a reduced loss for the fiscal year 2026 compared to 2025, indicating potential operational improvements or better market conditions.
• The re-appointment of auditors for another five years provides continuity in financial oversight, subject to shareholder approval.

⚠️ What Could Go Wrong (source-based)

• [Financial] The company continues to report significant losses (₹517.17 crore in FY26), indicating ongoing profitability challenges despite year-on-year improvement.
• [Execution] Ather Energy is assessing the impact of the Chinese export ban on rare earth magnets and the Battery Waste Management Rules, 2022, facing potential supply chain disruptions and regulatory uncertainties.
• [Financial] Approximately ₹1,617.07 crore of IPO proceeds remain unutilized as of March 31, 2026, with ₹1,615.00 crore temporarily invested, suggesting capital deployment is ongoing.

Results Snapshot

• Audited Financial Year Ended March 31, 2026:
  • Loss before tax: ₹517.17 crore
  • Total comprehensive loss: ₹516.75 crore
• Audited Financial Year Ended March 31, 2025:
  • Loss before tax: ₹812.28 crore
  • Total comprehensive loss: ₹816.92 crore

What to Track Next

• Approval of the re-appointment of Deloitte Haskins & Sells by the company's members at the ensuing Annual General Meeting.
• Further clarification and guidance from the Ministry on battery waste management rules and their potential impact.

Summary

• Ather Energy Limited has scheduled an earnings conference call for Monday, May 04, 2026, to discuss its Q4FY26 financial results and updates.
• The call will be addressed by Tarun Sanjay Mehta, Executive Director & CEO, and Sohil Dilipkumar Parekh, Chief Financial Officer.
• Investors can pre-register or join via dial-in numbers provided for various international locations.

Key Numbers & Dates

• Earnings Conference Call Date: Monday, May 04, 2026
• Call Start Time (IST): 04:00 PM
• Call Start Time (HK/SG): 06:30 PM
• Call Start Time (UK): 11:30 AM
• Call Start Time (USA): 06:30 AM

What Changes for the Business

• This announcement pertains to an investor event and does not describe direct changes to the business operations.

Concall: Investor Questions & Management Answers

• This section is not applicable as the provided text is an invitation and schedule for the conference call, not a transcript.

Results Snapshot

• This section is not applicable as the provided text is an invitation and schedule for the conference call, not the financial results themselves.

📊 Performance Summary

• Reporting Period(s): Quarter and Year ended March 31, 2026 (Meeting Notice).

✅ What Looks Positive

No clear positives visible in provided data.

⚠️ Risk Alerts & Concerns

No financial risks visible in the provided document, as it is solely a board meeting notice.

🧠 Investor Takeaway

Ather Energy will meet on May 04, 2026, to consider its financial results for the period ended March 31, 2026. No performance data or financial figures were disclosed in this specific announcement.

Summary

• Ather Energy Limited has formally notified the stock exchanges that it does not qualify as a "Large Corporate" (LC) under recent SEBI regulations.
• This means the framework governing fund raising by LCs through debt securities will not apply to Ather Energy.
• The company has provided a declaration to support this, referencing SEBI Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023.

Key Numbers & Dates

• Outstanding borrowing as of March 31, 2026 / December 31: ₹513.07 crore.
• SEBI Circular date regarding Large Corporate framework: October 19, 2023.
• Letter date: April 24, 2026.

What Changes for the Business

• Ather Energy will not be subject to the specific framework for fund raising via debt securities applicable to "Large Corporates" as defined by SEBI.
• The company does not need to adhere to the LC criteria or associated compliance requirements for debt issuance.

Summary

• Ather Energy Limited's Board of Directors has approved the re-appointment of Protiviti India Member Private Limited as Internal Auditors.
• The appointment is for the financial year 2026-27, effective from April 23, 2026.

Key Numbers & Dates

• Appointment Date: April 23, 2026
• Term of Appointment: 1 year (for financial year 2026-27)
• Board Meeting Date: April 23, 2026

What Changes for the Business

• The re-appointment of Protiviti India Member Private Limited as Internal Auditors for the fiscal year 2026-27 ensures continuity in financial oversight. Protiviti is described as a large independent global consulting firm with expertise in risk management and process advisory.

Summary

• Ather Energy Limited has confirmed that all its securities were held in demat form for the quarter ended March 31, 2026.
• This confirmation was provided by its Registrar and Transfer Agent, MUFG Intime India Private Limited, in compliance with SEBI regulations.
• No physical share certificates were received for dematerialisation during the period.

Key Numbers & Dates

• Quarter ended: March 31, 2026
• Confirmation Certificate date: April 08, 2026

Summary

• Ather Energy Limited allotted 2,97,012 equity shares on March 30, 2026.
• These shares were issued to eligible ESOP holders under the Ather Energy ESOP 2025 Plan.
• The allotment increases the company's paid-up share capital and total number of equity shares.

Key Numbers & Dates

• Shares Allotted: 2,97,012 equity shares.
• Allotment Date: March 30, 2026.
• Previous Paid-up Capital: Rs. 38,23,76,152 (₹38.24 crore).
• New Paid-up Capital: Rs. 38,26,73,164 (₹38.27 crore).
• Face Value per Share: ₹1/-.

What Changes for the Business

• The company's paid-up share capital has increased due to the allotment.
• The total number of outstanding equity shares has also increased.

Summary

• Ather Energy has expanded its service network to 500 authorised centres across India, doubling its capacity in FY26.
• The company is investing in service quality and efficiency, including initiatives like the 60-minute ExpressCare maintenance service.
• Ather continues to strengthen India's EV ecosystem with over 4,357 fast-charging points on the Ather Grid network.

Key Numbers & Dates

• The company expanded its service network from 277 to 500 centres in FY26.
• Ather aims to scale to 700 Experience Centres by FY26.
• As of December 31, 2025, Ather had 600 Experience Centres and 4,357 fast-charging points globally.
• ExpressCare maintenance service is available at 82 centres.
• As of December 31, 2025, Ather held 321 registered trademarks, 247 registered designs, and 50 registered patents.
• The announcement was made on March 17, 2026.

What Changes for the Business

• The expansion to 500 service centres enhances Ather's ability to provide seamless and convenient EV ownership across India.
• Improved service quality and efficiency, including modern customer lounges and advanced equipment, aim to enhance customer experience.
• The growth of the Ather Grid network contributes to the broader EV charging infrastructure in the country.

What to Track Next

• Ather's progress towards its target of 700 Experience Centres by FY26 will be a key metric to monitor.

Summary

• Ather Energy Limited has allotted 40,735 equity shares under its ESOP 2025 Plan.
• This allotment follows the exercise of stock options by eligible ESOP holders.
• The company's paid-up share capital has increased from Rs. 38,23,35,417 to Rs. 38,23,76,152.

Key Numbers & Dates

• Allotment Date: February 27, 2026
• Shares Allotted: 40,735 equity shares
• Face Value per Share: Rs. 1/-
• Previous Paid-up Share Capital: Rs. 38,23,35,417 (approx. Rs. 38.23 crore)
• New Paid-up Share Capital: Rs. 38,23,76,152 (approx. Rs. 38.24 crore)
• Increase in Paid-up Share Capital: Rs. 40,735

What Changes for the Business

• The total number of outstanding shares has increased by 40,735.
• The company's paid-up share capital has seen a marginal increase to Rs. 38.24 crore.
• Newly allotted shares will rank pari-passu with existing equity shares.

The provided text is a formal notification from Ather Energy Limited to the National Stock Exchange of India Ltd and BSE Limited regarding an upcoming Investors / Analyst Meet. This event is scheduled to take place on February 16, 2026, and will be conducted physically in Bangalore. The company has stipulated that all discussions during the meeting will be based strictly on publicly available information, with a clear statement that no Unpublished Price Sensitive Information (UPSI) will be shared. The management team is expected to engage with investors and analysts under these guidelines. Ather Energy also noted that the schedule for the meet is subject to potential changes due to unforeseen circumstances concerning either the investors/analysts or the company. This disclosure is made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This report covers the transcript of Ather Energy Limited's Q3 and 9M FY'26 Results Conference Call held on February 02, 2026. The management presented strong financial and operational performance for the quarter.

Quarterly Results:
For Q3 FY'26, Ather Energy reported strong growth with units sold at 68,000, up 50% year-on-year. Total income reached approximately INR 1,000 crores, an increase of 53% year-on-year. The Adjusted Gross Margin (AGM) improved to 25%, a 700 basis points increase year-on-year, reflecting better unit economics and COGS reduction. EBITDA saw a significant improvement of 1,600 basis points year-on-year, landing at negative 3%.

Guidance & Concall Commentary:
Distribution expansion is progressing well, with plans to close Q3 FY'26 with 600 stores and reach 700 stores by the end of the fiscal year. Management sees potential for distribution to grow to a couple of thousand stores in the next few years, particularly with the introduction of the new EL platform. The EL platform, scheduled for launch later this year, is designed as a lower-cost architecture to reduce entry price points and is expected to open up markets, especially in North India. The company is also focused on cost reduction, identifying potential for 10-20% long-term savings through mechanical improvements and value engineering. They acknowledge unprecedented commodity price volatility but are preparing for potential headwinds and see their non-PLI status as beneficial for long-term P&L resilience. Non-vehicle revenue, currently at 14% of total revenue, is expected to contribute significantly to future growth.

Financials & Operations:
The Bill of Materials (BOM) has reduced by approximately 8% from FY'24 levels, with battery cell costs now constituting less than 20% of the total BOM. ProPack attach rates remained strong at 91%. The company has entered the auto insurance space, expecting it to be margin-accretive. Charging infrastructure has expanded to 5,000 points and is now being monetized. Rizta has been launched in the Sri Lankan market.

Outlook:
Ather Energy is confident about its operating leverage, the potential of the EL platform, and its expanding market reach. They are prepared for potential industry challenges and see international expansion as a mid-to-long-term growth driver.

Hero MotoCorp Ltd. announced its financial results for the quarter and nine months ended December 31, 2025 (Q3 FY'26), reporting a record-breaking performance.

Quarterly and Annual Results:
The company achieved its highest-ever quarterly revenue from operations at ₹12,328 Crore for Q3 FY'26, marking a significant 21% increase year-on-year. Normalized Profit After Tax (PAT) before exceptional items stood at ₹1,439 Crore, showing a robust 20% growth over the previous year. Reported PAT was ₹1,349 Crore, an increase of 12% YoY. For the nine-month period ending December 31, 2025, revenue from operations was ₹34,034 Crore, a 10% rise YoY, while normalized PAT was ₹3,957 Crore, up 12% YoY. Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) for Q3 FY'26 reached ₹1,810 Crore, a 23% increase YoY, with an EBITDA margin of 14.7%, expanding by 22 basis points, driven by favorable product mix, pricing, and operational efficiencies. On a consolidated basis, revenue was ₹12,487 Crore and PAT was ₹1,275 Crore for the quarter.

Guidance & Concall Commentary:
While specific future financial guidance figures were not detailed, the management commentary in the press release highlighted a positive outlook. CFO Vivek Anand noted steady focus on operational excellence, product mix optimization, consumer-centricity, and innovation as key pillars. Conducive macroeconomic factors and a revival in rural demand were cited as drivers for consumer traction and economic growth. Growth drivers identified include new model launches, strong performance in the EV segment (VIDA), and expansion in global business.

Financials:

• Income Statement: Q3 FY'26 Revenue from operations: ₹12,328 Cr (+21% YoY). Other income: ₹295.87 Cr. Total income: ₹12,624.25 Cr. Total expenses: ₹10,728.71 Cr. Profit before exceptional item and tax: ₹1,895.54 Cr. Exceptional item (New Labour Code provision): ₹119 Cr. Profit before tax: ₹1,776.54 Cr. Total tax expense: ₹427.99 Cr. Profit after tax: ₹1,348.55 Cr.
• Balance Sheet & Cash Flow: Specific details on balance sheet structure or cash flow statements were not elaborated in the provided excerpts beyond profit figures.
• Key Ratios: EBITDA margin for Q3 FY'26 was 14.7%. Basic EPS stood at ₹67.40 for the quarter.

Key Events:
The Board of Directors declared an interim dividend of ₹110 per equity share (5500%) for the financial year 2025-26. In line with its strategy to strengthen its emerging mobility portfolio, the company approved an additional investment of ₹275 Crore in its associate, Euler Motors Private Limited, which designs and manufactures electric three and four-wheeler vehicles. Further investments include up to ₹3.25 Crore for a Solar Power Wheeling Project at the Haridwar plant and up to ₹4.67 Crore for similar projects at Neemrana and Jaipur facilities, all under the Group Captive mechanism. Mr. Prabhat Singh was appointed as the Company Secretary and Compliance Officer, effective February 5, 2026.

Outlook:
Hero MotoCorp anticipates continued positive performance, leveraging its market leadership, new product launches across categories, expansion in the electric mobility space (VIDA), growth in exports, and favorable market conditions. The company has expanded its presence to 52 countries and introduced Euro5+ compliant models for European markets. The strategy also focuses on enhancing customer experience through initiatives like expanding Hero Premia Stores.

Other Notable Points:
An exceptional charge of ₹119 Crore was recognized for the estimated financial implications of the new Labour Codes. The company noted that no provision is currently required for a past Income Tax demand of ₹178 Crore, pending appeal resolution. The impact of the new Environment Protection (End-of-Life Vehicles) Rules, 2025, is being evaluated as implementation details are awaited.

Ather Energy Limited has formally informed the stock exchanges (NSE and BSE) about its participation in a series of investor and analyst meetings scheduled for February 2026. The company will be present at Axis Capital's Flagship India Conference on February 10-11, 2026, IIFL's 17th Enterprising India Global Investors' Conference on February 25, 2026, and Kotak’s Chasing Growth 2026 Conference on February 26, 2026. All these events are scheduled to take place in Mumbai. Ather Energy has stated that the discussions during these meetings will be based solely on publicly available information, and no Unpublished Price Sensitive Information (UPSI) will be disclosed. The schedule is also subject to change based on exigencies.

Ather Energy Limited has issued a newspaper advertisement to inform stakeholders about its un-audited financial results for the third quarter and the first nine months of the fiscal year ending December 31, 2025. The announcement was made on February 3, 2026, and published in the Financial Express (English) and Vishwavani (Kannada) newspapers. These results are also accessible on the company's investor relations website.

Ather Energy has announced the availability of the audio recording of its earnings call held on February 02, 2026. This call pertained to the unaudited financial results for the third quarter and the first nine months of the fiscal year 2025-26, ending December 31, 2025. The recording can be accessed by investors and stakeholders on the company's official website via the provided link: https://media.atherenergy.com/Earnings-Call-Q3-FY-2025-26.mp3. This announcement serves as a notification and does not contain specific financial performance details, management guidance, or forward-looking commentary.

This Monitoring Agency Report from CARE Ratings Limited for Ather Energy Limited, covering the quarter ended December 31, 2025, details the utilization of Rs. 2626.00 crore raised via IPO. The report confirms that the utilization of these funds has been in line with the objects disclosed in the Offer Document, with no material deviations observed. The company has made progress across key expenditure heads. For the establishment of the E2W factory in Maharashtra (Factory 3.0), Rs. 78.80 crore had been utilized by the end of the quarter towards civil works, raw materials, and equipment. Investment in research and development also continued, with Rs. 203.37 crore utilized by quarter-end, alongside Rs. 67.92 crore towards marketing initiatives. The full Rs. 40.00 crore earmarked for debt repayment has been utilized. A notable aspect is the revised production commencement date for Factory 3.0, now projected for October 2026 instead of July 2026. This shift is due to the receipt of environmental clearance in September 2025, which was not originally a prerequisite. Despite this, the overall project completion timeline of March 2027 remains unchanged. As of December 31, 2025, Rs. 1812.05 crore of IPO proceeds remained unutilized, primarily invested in fixed deposits across various banks, generating interest income. The report assures investors that fund deployment is proceeding as planned, with prudent treasury management of unutilized amounts.

Ather Energy Limited has announced the grant of 64,882 Employee Stock Options (ESOPs) to eligible employees under the Ather Energy ESOP 2025 plan. The Nomination and Remuneration Committee (NRC) of the Board of Directors approved this grant on February 02, 2026, as per SEBI Listing Regulations. These ESOPs cover 64,882 equity shares, each with a face value of ₹1. The exercise price for each ESOP is ₹1. The exercise period for vested options is set at five years from the date of vesting. The ESOP Plan is administered by the NRC and has been approved by the company's shareholders, with each vested option granting the right to apply for one equity share.

Ather Energy Limited has officially notified the stock exchanges regarding a corporate action involving the allotment of equity shares. On February 02, 2026, the company's Board of Directors convened a meeting where they approved the issuance of 4,94,266 equity shares. These shares, each with a face value of Rs. 1/-, have been allotted to eligible employees who exercised their stock options under the Ather Energy ESOP 2025 Plan. The newly issued shares will carry the same rights and privileges as the existing equity shares, meaning they will rank pari-passu with them in all respects.

This allotment has a direct impact on the company's capital structure. The paid-up share capital of Ather Energy has been revised upwards. Prior to this allotment, the paid-up share capital stood at Rs. 38,18,41,151, representing 38,18,41,151 equity shares of Rs. 1/- each. Post the allotment, the paid-up share capital has increased to Rs. 38,23,35,417, bringing the total number of outstanding equity shares to 38,23,35,417. The net increase in share capital is Rs. 4,94,266, corresponding to the number of shares allotted. The company has furnished the necessary disclosures as mandated by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It is important to note that this announcement focuses solely on the ESOP allotment and does not contain any financial results, performance metrics, management guidance, or outlook commentary.

Ather Energy informed the stock exchanges on February 02, 2026, regarding the allotment of equity shares. The Board of Directors, in their meeting held on the same day, approved the issuance of 4,94,266 equity shares of face value Rs. 1 each. These shares were allotted to eligible employees who exercised their stock options under the Ather Energy ESOP 2025 Plan.

This allotment has resulted in an increase in the company's paid-up share capital. Prior to this allotment, the paid-up share capital stood at Rs. 38,18,41,151, comprising 38,18,41,151 equity shares. Following the allotment of 4,94,266 new shares, the paid-up share capital has risen to Rs. 38,23,35,417, with the total number of equity shares now standing at 38,23,35,417. The newly issued shares will rank pari-passu with the existing equity shares of the company in all respects.

Ather Energy Limited announced on February 02, 2026, that its Board of Directors has approved the incorporation of a Wholly Owned Subsidiary (WOS) in Hong Kong. No financial results are reported in this announcement, nor is there any forward-looking guidance or concall commentary present in this disclosure. Furthermore, no financial statements, balance sheet items, cash flow details, or ratios are provided; the only financial mention is that Ather Energy will subscribe to the WOS's initial paid-up share capital in cash. The key event is the strategic decision to establish a foreign subsidiary in Hong Kong. The WOS's primary objectives are to support critical procurement functions and enhance supply chain resilience within the Asia-Pacific (APAC) region, operating within the automotive industry and requiring regulatory approvals from Hong Kong authorities and FEMA. This initiative suggests a strategic focus on improving operational efficiency, managing procurement costs, and de-risking the supply chain in a crucial market, indicating a proactive approach to global sourcing and supply chain management.

Ather Energy announced its financial results for the quarter and nine months ended December 31, 2025 (Q3 FY26), showcasing strong operational and financial performance.

Quarterly Performance (Q3 FY26):

• Revenue: Total income surged by 53% year-on-year (YoY) to ₹9,957 Million. This growth was driven by a 50% YoY increase in units sold, reaching 68,000 units. Quarter-on-quarter (QoQ), revenue grew by 6% and unit sales by 3%.
• Margins: Adjusted Gross Margin (AGM) improved by 700 basis points (bps) YoY to 25%, with AGM (excluding incentives) also up 700 bps YoY to 23%. EBITDA margin saw a substantial improvement of 1,600 bps YoY, reaching -3% for the quarter.
• Profitability: While EBITDA margin improved, the company reported an EBITDA margin of -3% for Q3 FY26.

Nine-Month Performance (9M FY26 vs 9M FY25):

• Revenue: Revenue from operations increased by 45% YoY, reaching ₹22,550 Million.
• Profitability: The net loss for the period narrowed significantly, from ₹5,779 Million in 9M FY25 to ₹3,700 Million in 9M FY26, indicating improved financial health.

Operational Highlights:

• Market Share: Ather Energy's market share in the electric two-wheeler segment reached 18.8% in Q3 FY26, a substantial increase from 7.6% in Q1 FY25.
• Network Expansion: The company continues to scale its presence, with plans to reach 700 Experience Centres (ECs) by Q4 FY26E, adding 133 ECs in Q3 FY26 alone. This represents a significant expansion, growing its network over 2.5 times since Q1 FY25.
• Product Success: The Rizta scooter has shown strong adoption, with over 2 lakh units sold in just seven months. New features like Infinite CruiseTM and Vernacular Dashboards have been launched and are showing high user engagement. The company also launched Kids helmets and auto insurance distribution.

Financial Deep Dive:

• Cost Efficiency: The Cost of Goods Sold (COGS) per unit has shown a steady reduction of 7% YoY, contributing to improved gross margins.
• Revenue Mix: Vehicle sales constitute 88% of revenue, with non-vehicle sales making up 12%.
• Revenue Per Unit: Revenue per unit of two-wheeler sold stood at ₹128,295 for 9M FY26.

Outlook:

The company is focused on sustained market leadership through aggressive network expansion across India and continued product innovation. The progress on its EL Platform and Factory 3.0 also remains on track.

Ather Energy has announced its strongest-ever quarterly performance for Q3 FY26, highlighted by a record total income of ₹995.7 crore, marking a substantial 53% year-on-year (YoY) growth. This revenue surge was propelled by the company achieving its highest-ever quarterly sales volumes, selling 67,851 units, which represents a 50% YoY increase.

Financially, the quarter saw significant improvements in profitability metrics. The company's EBITDA loss narrowed by 45% compared to the previous quarter (Q2 FY26), reaching ₹29.9 crore. Consequently, the EBITDA margin saw a marked improvement, climbing by approximately 1600 basis points YoY to -3%. This performance reflects strong operating leverage and disciplined cost management. Furthermore, the Adjusted Gross Margin (AGM) witnessed an impressive 111% YoY jump to ₹251.3 crore, with AGM excluding incentives rising to 23%, up by about 1100 basis points YoY. This improvement is attributed to Ather's value engineering and its ability to command strong premiums, underscoring a focus on healthier unit economics. Non-vehicle revenue, including software subscriptions and services, contributed 14% to the total revenue.

In terms of market presence, Ather Energy solidified its position in the electric two-wheeler market, capturing an 18.8% national market share. The festive season contributed to a record monthly registration of 30.9k units, achieving a 20% market share in October 2025. The company retained its leadership in South India with a 24.4% market share, while Middle India saw its market share nearly double YoY to 17.4%, driven by strong performance across key states. The Rest of India also showed steady growth, with market share reaching 12.6%.

Operationally, Ather expanded its footprint by adding 76 new Experience Centres (ECs) in Q3, bringing the total national network to 600 ECs. The Ather Grid network of fast-charging points also grew to 4,357 points across India, Nepal, and Sri Lanka. The company also highlighted strong adoption of its AtherStack Pro software, with 91% of customers opting for it.

Tarun Mehta, Executive Director & CEO, expressed confidence in the company's structural preparation for sustainable, long-term growth, citing improvements in unit economics, margins, and operating leverage as key drivers. The company's portfolio includes the Ather 450 series and the recently launched Ather Rizta family scooter. Ather holds a significant number of intellectual properties, including patents and registered designs.

Ather Energy Limited announced the outcomes of its Board of Directors meeting held on February 2, 2026. The Board considered and approved the unaudited financial results for the quarter and nine months ended December 31, 2025, along with the Limited Review Report from statutory auditors Deloitte Haskins & Sells. Specific financial figures were not detailed in this announcement.

Key corporate actions approved include the allotment of 4,94,266 equity shares of face value Rs. 1 each to eligible ESOP holders who exercised their options under the Ather Energy ESOP 2025 Plan. Additionally, the company approved the incorporation of a Wholly Owned Subsidiary (WOS) in Hong Kong. This subsidiary is intended to support the company’s critical procurement functions and enhance supply chain resilience within the Asia-Pacific (APAC) region.

Ather Energy Limited announced that its Board of Directors, in a meeting held on February 02, 2026, approved the unaudited financial results for the quarter and nine months ended December 31, 2025, along with the Limited Review Report from Deloitte Haskins & Sells. The Board also approved the allotment of 4,94,266 equity shares of face value Rs. 1/- each to eligible ESOP holders who exercised their options under the Ather Energy ESOP 2025 Plan, stating these shares will rank pari-passu with existing equity shares. Furthermore, the company approved the incorporation of a Wholly Owned Subsidiary (WOS) in Hong Kong. This new entity is intended to support the company's critical procurement functions and enhance supply chain resilience within the Asia-Pacific (APAC) region.

Ather Energy Limited has formally notified the National Stock Exchange of India Ltd and BSE Limited regarding the schedule for its earnings conference call concerning the third quarter of fiscal year 2026 (Q3FY26).

The conference call is planned for Monday, February 02, 2026, commencing at 05:30 PM Indian Standard Time (IST). This event is intended for analysts and investors to discuss the company's performance and updates related to Q3FY26 results. The call will be addressed by key management personnel, including Tarun Sanjay Mehta, Executive Director & CEO, and Sohail Dilipkumar Parekh, Chief Financial Officer.

Dial-in details for participation from various international locations, including Singapore, Hong Kong, the UK, and the USA, have been provided, along with universal dial-in numbers for India. Investor relations can be contacted via email at ir@atherenergy.com or by phone.

The company stated that this schedule is subject to change due to business exigencies.

No specific financial results, performance metrics, or forward-looking guidance were disclosed in this intimation, as the purpose is to announce the timing and nature of the upcoming discussion post-results.

Ather Energy Limited has issued a formal notification to the National Stock Exchange of India Ltd and BSE Limited, regarding an upcoming meeting of its Board of Directors. Scheduled for Monday, February 2, 2026, the board will convene to inter-alia consider and approve the unaudited financial results for the quarter and the nine months that concluded on December 31, 2025. This announcement complies with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The current intimation does not provide any specific financial data, performance metrics, management guidance, or outlook. It solely serves to inform stakeholders about the date on which the company's financial performance for the relevant periods will be officially reviewed and disclosed. Investors will anticipate the subsequent release of these financial results to analyze Ather Energy's performance trends, profitability, and overall financial health for the third quarter and the year-to-date period of fiscal year 2025-26.

Ather Energy Limited has issued a formal notification to the National Stock Exchange of India Ltd and BSE Limited, regarding an upcoming meeting of its Board of Directors. Scheduled for Monday, February 2, 2026, the board will convene to inter-alia consider and approve the unaudited financial results for the quarter and the nine months that concluded on December 31, 2025. This announcement complies with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The current intimation does not provide any specific financial data, performance metrics, management guidance, or outlook. It solely serves to inform stakeholders about the date on which the company's financial performance for the relevant periods will be officially reviewed and disclosed. Investors will anticipate the subsequent release of these financial results to analyze Ather Energy's performance trends, profitability, and overall financial health for the third quarter and the year-to-date period of fiscal year 2025-26.

Ather Energy Limited has formally announced the successful conclusion of its postal ballot process, confirming the appointment of Mr. Vivek Anand (DIN: 06891864) as a Non-Executive Non-Independent Director of the company. This significant corporate governance resolution was put forth to the company's members for approval via a postal ballot, utilizing a remote e-voting mechanism in accordance with Regulation 44(3) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Scrutinizer’s Report, submitted on January 21, 2026, detailed the voting outcomes. The resolution to appoint Mr. Anand garnered substantial shareholder support, passing with the requisite majority. Across all voting segments, the consolidated result showed approximately 99.84% of the votes polled were in favour of the appointment. Promoters and Promoter Group expressed unanimous support, while Public Institutions and Public Non-Institutions also voted with high approval rates of 99.69% and 98.07% respectively. The detailed voting results are now accessible on Ather Energy’s investor relations portal. This update signifies a procedural step in the company's board composition.

Ather Energy Limited (NSE: ATHERENERG, BSE: 544397) announced the outcome of its postal ballot, which concluded on January 21, 2026. The members of the company approved, with the requisite majority via postal ballot and remote e-voting, the appointment of Mr. Vivek Anand (DIN: 06891864) as a Non-Executive Non-Independent Director.

The Scrutinizer's Report, submitted by BMP & Co. LLP, confirmed that the resolution was passed. The voting summary indicates strong support from all categories of shareholders. Promoters and Promoter Group voted 100% in favour out of 156,008,716 votes polled. Public Institutions voted 99.6902% in favour out of 152,300,286 votes polled, and Public Non Institutions voted 98.0707% in favour out of 1,082,889 votes polled. Overall, 309,391,891 votes were polled, with 308,899,206 votes (99.8408%) in favour and 492,685 votes (0.1592%) against.

The voting results and Scrutinizer's Report have been submitted to the National Stock Exchange of India Ltd. and BSE Limited, in compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results are also accessible on Ather Energy's investor relations website. No financial results, guidance, or outlook information was provided in this announcement.

Ather Energy Limited has submitted a routine regulatory filing, the Confirmation Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended December 31, 2025. Issued by its Registrar and Transfer Agent, MUFG Intime India Private Limited, the certificate confirms that all the company's securities are held in dematerialized form. This filing ensures adherence to SEBI's regulatory framework regarding share dematerialization, confirming that no physical share certificates required processing for dematerialization during the specified quarter. This is a standard compliance procedure for listed entities.

Ather Energy, a leading electric two-wheeler manufacturer, announced a significant expansion of its charging infrastructure, now providing riders access to over 5,000 public fast chargers across India. This network spans 395+ cities and includes more than 3,675 chargers directly operated by Ather, complemented by over 1,400 chargers from its LECCS (Light Electric Combined Charging System) partner networks.

The chargers are strategically located in major metros, tier 2 and tier 3 cities, and along intercity routes, aiming to facilitate seamless long-distance travel and daily commutes. Key cities like Bengaluru now feature over 240 LECCS chargers, with more than 100 in Pune, Chennai, Delhi, Hyderabad, and Mumbai. The company has also established an international presence with over 30 chargers in Nepal and Sri Lanka.

Ravneet Singh Phokela, CBO of Ather Energy, highlighted that charging infrastructure is a critical enabler of EV adoption and that network expansion remains a key focus. The company's investment in building a network across cities, towns, and highways aims to provide riders with confidence for longer journeys. Ather's proprietary LECCS connector, opened for IP in 2021 and now BIS-approved, promotes industry-wide interoperability, with adoption by OEMs like Hero Vida and Matter, and charge point operators such as Bolt and Kazam. Ather Grid chargers are also discoverable on Google Maps, enhancing the user experience.

Ather Energy Limited has announced the appointment of Ms. Surabhi Loshali as its new Chief Human Resources Officer (CHRO) and Senior Management Personnel (SMP), effective from January 05, 2026. This strategic appointment aims to bolster the company's human capital management and organizational development capabilities.

Ms. Loshali brings a wealth of experience spanning over two decades in human resources leadership. Her expertise encompasses people strategy, organization development, talent management, large-scale transformations, and culture building across diverse sectors including pharmaceuticals, life sciences, manufacturing, technology, and financial services. Notably, she previously served as Group Chief Human Resources Officer at Strides Pharma Science Limited, where she led global HR initiatives.

Academically, Ms. Loshali holds a Post Graduate Diploma in Management (HR) from XLRI Jamshedpur and a Bachelor of Engineering in Polymer Science & Chemical Technology from Delhi College of Engineering. She has also received accolades such as the Top HR Icon Award from the World HRD Congress in 2025 and the Women Leader of the Year 2024 at the Women Empowerment Summit.

This appointment is a key development in strengthening Ather Energy's management team as the company continues its expansion and focuses on innovation. While this announcement does not directly pertain to financial performance, it supports the company's operational execution and strategic growth objectives. Ather Energy's recent Q2 FY26 results demonstrated significant revenue growth and improved operational metrics, underscoring the importance of robust leadership across all functions, including human resources.

Ather Energy Limited has formally notified the stock exchanges about the closure of its trading window, effective January 1, 2026. This regulatory step, mandated by SEBI (Prohibition of Insider Trading) Regulations, 2015, is to prevent potential insider trading activities and will remain in effect until 48 hours after the announcement of the company's unaudited financial results for the quarter ended December 31, 2025 (Q3 FY26).

While this announcement is procedural, it precedes the release of Ather Energy's Q3 FY26 financial and operational performance. In its most recent reported quarter, Q2 FY26, the company showcased significant growth, with revenue surging by 54% year-over-year to ₹8,989 million. This was accompanied by a substantial 67% increase in vehicle volumes. The company successfully narrowed its losses before tax to ₹1,541 million, indicating progress towards profitability. Following its Initial Public Offer (IPO) earlier in the year, Ather Energy's balance sheet has strengthened considerably, with total assets doubling to ₹44,434 million and its debt-to-equity ratio improving to 0.10. Operating cash flow turned positive in H1 FY26, though capital expenditures led to negative free cash flow.

Beyond financial performance, Ather Energy is actively pursuing strategic initiatives. These include the establishment of a wholly-owned subsidiary to enter the auto insurance services sector, aiming to create recurring revenue streams and enhance customer experience. The company is also focused on expanding its manufacturing capacity with the development of its third facility, Factory 3.0, although its operational start has been revised to October 2026. New product platform launches and software enhancements continue to be key drivers for market penetration and customer engagement. Key risks include ongoing supply chain disruptions and the continued unprofitability shown by negative ROE and ROCE, alongside a high price-to-book valuation.

On December 29, 2025, Ather Energy Limited announced the allotment of 4,33,842 equity shares to eligible ESOP holders who exercised their stock options under the Ather Energy ESOP 2025 Plan. This standard corporate action increased the company's paid-up share capital to ₹38,18,41,151, consisting of 38,18,41,151 equity shares. These newly issued shares rank pari-passu with the existing equity shares.

This allotment occurs against a backdrop of significant strategic and financial developments. The company's Q2 FY26 results (ended September 30, 2025) revealed a robust performance, with revenue surging 54% year-on-year to ₹8,989 million. Losses before tax narrowed by 21.86% to ₹1,541 million, indicating progress towards profitability. For the half-year ended September 30, 2025 (H1 FY26), revenue grew 63.51% YoY to ₹15,435 million. Vehicle volumes saw a substantial increase of 67% YoY to 65,595 units in Q2 FY26, contributing to a pan-India market share of 17.4%. EBITDA margins improved significantly, narrowing losses.

Financially, Ather Energy's balance sheet has been strengthened considerably post-IPO, with total assets doubling to ₹44,434 million as of September 2025. The company holds ₹7,887 million in cash and equivalents, and its debt-to-equity ratio has dropped to a low of 0.10. Operating cash flow turned positive in H1 FY26, although capital expenditure resulted in a negative free cash flow of ₹1,411 million.

Strategically, Ather Energy is expanding its manufacturing capabilities with the ongoing development of Factory 3.0 in Maharashtra, though its operational start date has been revised to October 2026. The company also announced its plan to enter the auto insurance services space by establishing a wholly-owned subsidiary, aiming to leverage its customer base for recurring revenue. Product innovation continues with platforms like the EL Platform and AtherStack 7.0.

Management has been actively engaging with investors and analysts, participating in multiple meets and plant visits to provide updates based on publicly available information. The company's outlook remains focused on sustained growth, market share expansion, and achieving profitability, while navigating potential supply chain risks related to components like rare earth magnets.

Ather Energy Limited has commenced a postal ballot process, announcing it via newspaper advertisements on December 23, 2025. Shareholders are to vote electronically on an ordinary resolution to approve the appointment of Mr. Vivek Anand as a Non-Executive Non-Independent Director. Mr. Anand, CFO of Hero MotoCorp, brings over three decades of experience in finance, M&A, and corporate planning. The voting period is from December 23, 2025, to January 21, 2026, with results expected by January 23, 2026.

Ather Energy Limited has initiated a postal ballot process to obtain shareholder approval for the appointment of Mr. Vivek Anand as a Non-Executive Non-Independent Director. This resolution, classified as ordinary, is being put forth in compliance with the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company has appointed National Securities Depositories Limited (NSDL) to facilitate the e-voting process, which is the sole method for members to cast their votes. The remote e-voting period commences on Tuesday, December 23, 2025, at 09:00 AM (IST) and concludes on Wednesday, January 21, 2026, at 05:00 PM (IST). The results of the postal ballot are scheduled to be declared by Friday, January 23, 2026.

Mr. Vivek Anand was initially appointed as an Additional Director (Non-Executive Non-Independent) by the Board on November 10, 2025. He brings over three decades of extensive experience across various industries including FMCG, Telecom, Paints, Consumer Healthcare, and Real Estate. Currently serving as the Chief Financial Officer of Hero MotoCorp Limited, Mr. Anand possesses significant expertise in Indian and international markets, with a strong acumen in Finance, Treasury, Mergers & Acquisitions, Corporate Planning, Investor Relations, Tax Planning, Risk Management, and Information Technology. The company highlights that his international exposure and experience in consumer brand building are expected to add considerable depth to Ather's strategic discussions, particularly in driving brand equity and consumer engagement, thereby enhancing the board's collective capability in financial stewardship, strategic execution, and governance.

The notice specifies that Mr. Anand is neither disqualified from being appointed as a Director nor debarred by any SEBI order. He has provided all necessary declarations and consents. The company explicitly states that none of the Directors, Key Managerial Personnel, or their relatives are financially concerned or interested in the proposed resolution. The notice also details the procedure for electronic voting, including login methods for shareholders holding shares in demat mode with NSDL or CDSL, and provides contact details for technical assistance.

Ather Energy, a prominent electric two-wheeler manufacturer, has announced plans to enter the auto insurance distribution market. The company will establish a wholly-owned subsidiary that will operate as a Corporate Agent, facilitating the offering of auto insurance policies to its customers across India in collaboration with multiple insurance partners.

This strategic initiative is designed to streamline the insurance process, enhance the overall customer ownership experience, and create a new recurring revenue stream by leveraging Ather's existing and growing user base. By bringing insurance distribution in-house, Ather Energy aims to simplify policy renewals, potentially improve the attach rates of insurance policies, and foster innovation in developing EV-specific insurance products that better reflect the actual usage patterns of electric vehicles.

Ravneet Singh Phokela, Chief Business Officer at Ather Energy, stated that insurance is a critical component of the ownership journey and that the company seeks to make it simpler, more transparent, and better aligned with how customers use their vehicles. He described this as a measured yet deliberate step to strengthen the ownership experience and build a complementary capability that scales with the business.

The company anticipates this venture will deliver steady, incremental revenue with limited investment, as it capitalizes on its established customer base without incurring additional customer acquisition costs. This move is a part of Ather Energy's broader strategy to build a comprehensive, well-integrated ecosystem around its electric two-wheelers, encompassing vehicles, charging infrastructure, servicing, accessories, warranty, and software solutions.

Ather Energy Limited's Board of Directors, in a meeting held on December 19, 2025, gave its approval for the incorporation of a wholly-owned subsidiary (WOS). This new entity is slated to operate in the insurance sector as a Corporate Agent, offering and facilitating insurance policies. This strategic diversification aims to tap into Ather Energy's existing extensive customer base to create new, recurring revenue streams and enhance overall customer value through integrated services.

The proposed WOS will be established in India as a company limited by shares. Ather Energy Limited will maintain 100% ownership and control, subscribing to the initial paid-up share capital in cash. An estimated initial investment of up to INR 8 Crores is allocated for this venture. Key objectives include increasing insurance attach rates and providing a seamless cross-selling and servicing experience for both customers and retail partners.

The incorporation will necessitate approvals from the Registrar of Companies (ROC) and the Insurance Regulatory and Development Authority of India (IRDAI).

This strategic expansion into the insurance sector follows Ather Energy's recent positive financial disclosures for Q2 FY26, which reported substantial year-on-year revenue growth and improved profitability metrics, underscoring the company's commitment to both operational excellence and broader business development.

Ather Energy Limited has formally notified the stock exchanges regarding a scheduled plant visit at its Hosur manufacturing facility, followed by a management meet at its Bengaluru office, for a group of investors and analysts. This event is planned for December 08, 2025. In line with regulatory requirements and transparency standards, the company has explicitly stated that all discussions during these sessions will be based exclusively on publicly available information, and no Unpublished Price Sensitive Information (UPSI) will be shared. The company also noted that the schedule is subject to change based on exigencies. This communication, filed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensures stakeholders are informed about the planned engagement.

Ather Energy Limited announced on November 28, 2025, that its Nomination and Remuneration Committee (NRC) has approved the grant of 24,231 Employee Stock Options (ESOPs) under the Ather Energy ESOP 2025 plan to eligible employees. These options are exercisable within a period of five years from the date of vesting, at an exercise price of Rs. 1 per ESOP. Each vested option allows the grantee to apply for one equity share of the company with a face value of Rs. 1. This grant is in accordance with SEBI (Share Based Employee Benefits) Regulations, 2021, and aims to align employee interests with the company's long-term success. This is a standard corporate governance practice aimed at employee retention and motivation. Previous disclosures indicate the company's recent Q2 FY26 financial performance showed strong revenue growth of 57% YoY to ₹940.7 Cr and a 67% YoY volume increase to 65,595 units, with significantly narrowed losses. The company's balance sheet has been bolstered by its IPO, and its operating cash flow turned positive in H1 FY26, though CapEx led to negative free cash flow. Key strategic initiatives include product innovation with platforms like EL and AtherStack 7.0, and network expansion.

Ather Energy Limited announced the launch of its Rizta electric scooter in Sri Lanka on November 21, 2025, at the Colombo Motor Show 2025. This marks a significant step in the company's international growth strategy, executed in partnership with Evolution Auto Pvt. Ltd., Ather’s authorized distributor in Sri Lanka.

Ather first entered the Sri Lankan market in December 2024 with the Ather 450X and has since established a substantial footprint with 40 Experience Centers, operated by Evolution Auto, alongside the installation of Ather Grid fast chargers to support the EV ecosystem.

Mr. Ravneet Singh Phokela, Chief Business Officer, Ather Energy Limited, stated, “Since entering Sri Lanka last year, it has quickly become a growing market for us, and expanding our portfolio here with the Rizta felt like the natural next step. The Rizta has seen strong acceptance in India for over a year and more recently in Nepal, and we believe it is well-suited for the needs of Sri Lankan riders as well. Its focus on safety and connected capabilities makes it a practical choice for everyday use. With this launch, we aim to deepen our presence in Sri Lanka and continue strengthening the EV ecosystem there."

The Rizta model features a large and comfortable seat with 34L of under-seat storage, ample leg space, and safety enhancements like SkidControl™. It also includes a 7-inch TFT display dashboard and connected features such as Google Maps navigation and music and call control, particularly in the Rizta Z variant.

This launch expands Ather's product offerings in its second international market, following its entry into Nepal in November 2023, where it has established 9 Experience Centres and 7 Service Centres. As of September 30, 2025, Ather maintained a significant presence in India with 524 Experience Centres and 3,643 Ather Grid fast-charging stations.

The expansion into Sri Lanka occurs in the context of Ather's recent strong financial performance, including robust Q2 FY26 results that reported a 57% YoY revenue surge to ₹940.7 Cr and a 67% YoY volume increase to 65,595 units. The company has also seen improved market share and narrowed EBITDA losses post its IPO in May 2025.

Ather Energy, a pioneer in the Indian electric two-wheeler market, continues to focus on R&D investment, network expansion, and developing new product platforms, while also addressing challenges such as a delayed commencement for its Maharashtra plant (Factory 3.0) to October 2026 and past supply chain concerns.

Ather Energy Limited has officially notified the National Stock Exchange (NSE) and BSE Limited regarding a plant visit scheduled for investors and analysts. The event will take place at the company's manufacturing facility in Hosur on November 22, 2025, commencing at 11:00 AM IST. The company has cautioned that the schedule is subject to change due to potential exigencies from either the investors/analysts or the Company. Crucially, Ather Energy has committed to ensuring that all discussions during this visit will be exclusively based on publicly available information, and no Unpublished Price Sensitive Information (UPSI) will be shared, reinforcing its adherence to SEBI regulations and commitment to transparency. This engagement follows the recent announcement of its Q2 FY26 financial results, which highlighted significant revenue growth and improved margins, and precedes the Board meeting on November 10, 2025, to approve Q2 FY26 results and an upcoming earnings call on November 11, 2025.

Elpro International Limited announced on November 18, 2025, that it has acquired 2,98,819 equity shares in Ather Energy Limited for a cash consideration of ₹20.01 Crores. This acquisition is classified as an investment and does not fall under related party transactions. Ather Energy Limited, incorporated on October 21, 2013, is a pioneering electric vehicle (EV) company operating in the 2/3 wheelers segment in India. For the fiscal year 2024-25, Ather Energy reported a standalone turnover of ₹2,305.20 Crores, comprising ₹2,255.00 Crores from operations and ₹50.20 Crores in other income. This strategic move by Elpro International aims to enhance its presence in the growing EV market and represents a diversification into a key sector of future mobility. The company plans to leverage its investment for business development purposes.

Ather Energy reported strong Q2 FY26 financial and operational performance on November 11, 2025. The company achieved a 67% year-on-year increase in units sold to 66,000, driving total income to a record ₹940 crore, up 57% YoY. Adjusted Gross Margins (AGM) improved to 22% (up 300 bps YoY), with margins excluding incentives standing at 21% (up 900 bps YoY). EBITDA losses narrowed substantially to below -10%, representing an 1100 bps improvement YoY. The company's market share reached 17.4% on a pan-India basis, supported by aggressive distribution expansion, adding 78 new stores in Q2 to reach a total of 524 experience centers. Management highlighted strategic focus on Middle India, leading to significant market share gains in states like Madhya Pradesh and Rajasthan. Key product developments include the unveiling of the next-generation EL platform, AtherStack 7.0 software with enhanced safety features, and higher-range variants for 450S and Rizta S. The Battery as a Service (BaaS) model was launched to reduce upfront costs. However, a rare earth magnet supply crunch impacted operations, leading to deferred incentive claims and affecting subsidy filings, estimated at a ₹20-25 crore impact on Q2 EBITDA. The commissioning of its new Maharashtra plant (Factory 3.0) is delayed to October 2026 due to environmental clearance timelines, though EL platform production will commence at Hosur to mitigate delays. Management expressed confidence in continued growth, improving margins, and a clear path towards profitability, emphasizing product-led growth over cost of ownership.

Ather Energy announced its financial and operational results for the second quarter and half-year ended September 30, 2025 (Q2 FY26). Revenue for Q2 FY26 grew by 53.97% year-on-year to ₹8,989 million, with vehicle volumes soaring by 67% year-on-year to 65,595 units. The company reported a significant improvement in its financial position, bolstered by its Initial Public Offer (IPO) on May 6, 2025. Total assets doubled to ₹44,434 million, and equity surged to ₹27,212 million, with the company holding ₹7,887 million in cash and equivalents. The debt-to-equity ratio dropped to a mere 0.10. Operating cash flow turned positive at ₹770 million for H1 FY26, although capital expenditure led to a negative free cash flow of ₹1,411 million for the same period. Losses before tax narrowed by 21.86% year-on-year to ₹1,541 million, and EBITDA margins improved by 1100 basis points year-on-year to -10%. Adjusted Gross Margin stood at 22%. The company achieved a 17.4% pan-India market share and expanded its network to 524 Experience Centers. Key growth drivers highlighted include product innovation such as the EL Platform and AtherStack 7.0, alongside geographical expansion and ecosystem growth. Management noted progress towards profitability. Operational milestones include rolling out the 500,000th electric scooter. However, the commencement of operations at Factory 3.0 in Maharashtra has been revised to October 2026 due to environmental clearance received in September 2025. The company also faces supply chain risks related to rare earth magnets, which could affect incentive claims, though they are developing a Heavy Rare Earth Free (HREF) motor. Several corporate actions were also announced, including ESOP grants and allotments to employees, and the appointment of Mr. Vivek Anand as an Additional Director. Ather Energy also submitted its Monitoring Agency Report on IPO proceeds utilization, confirming alignment with offer document objectives.

Ather Energy Limited has formally notified the stock exchanges about upcoming engagements between its management team and institutional investors and analysts. These meetings are scheduled to take place in Mumbai from November 17 to November 19, 2025, and will include both group and individual sessions. A core principle of these discussions will be strict adherence to publicly available information, with the company emphasizing that no Unpublished Price Sensitive Information (UPSI) will be shared. This proactive approach to investor relations follows the company's recently announced Q2 FY26 results, which reported substantial year-on-year revenue growth and an improvement in EBITDA margins, indicating positive operational momentum. The meetings will serve as a platform to discuss the company's strategic direction, growth drivers, and outlook within the expanding Indian electric two-wheeler market, a sector where Ather Energy is a key player known for its R&D focus and vertically integrated manufacturing.

Ather Energy Limited formally notified the NSE and BSE of newspaper advertisements published on November 12, 2025, in Financial Express and Vishwavani, detailing its unaudited financial results for the quarter and half-year ended September 30, 2025. This regulatory disclosure, made as per SEBI LODR Regulations, is also available on the company's investor relations website.

Ather Energy Limited has officially notified the National Stock Exchange of India Ltd and BSE Limited that the audio recording of its earnings call for the quarter and half-year ended September 30, 2025, is now available. The call was held on November 11, 2025. This recording serves as a key resource for investors and analysts to understand the company's performance, management's insights, strategic decisions, and future outlook for the specified period. The announcement is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The link to access the audio recording is provided on the company’s official website. The news does not contain specific financial figures, guidance, or analyst comparisons, but points to the earnings call recording for such details. The company's NSE symbol is ATHERENERG and its BSE scrip code is 544397.

Ather Energy Limited, through a regulatory filing on November 10, 2025, has provided an update regarding the commencement of commercial operations at its new manufacturing facility, Factory 3.0, situated in Chhatrapati Sambhajinagar (formerly Aurangabad), Maharashtra. The company announced that the expected date for the commencement of production has been shifted to October 2026. This revision is primarily due to the receipt of the Environmental Clearance approval in September 2025, a condition that was not originally factored into the prospectus dated April 30, 2025. The original envisaged timeline for production commencement was July 2026. Consequently, there is a projected delay of approximately three months. Ather Energy has reaffirmed its commitment to the successful completion of the Factory 3.0 project, emphasizing its dedication to bringing the new facility online.

Ather Energy Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2025, as mandated by SEBI regulations. The report, prepared by CARE Ratings Limited, details the utilization of the Rs. 2626.00 crore raised through its Initial Public Offering (IPO).

The company has allocated the IPO proceeds towards several key objectives: capital expenditure for an E2W factory in Maharashtra (₹927.20 crore), repayment of certain borrowings (₹40.00 crore), investment in research and development (₹750.00 crore), expenditure on marketing initiatives (₹300.00 crore), general corporate purposes (₹492.20 crore), and issue expenses (₹116.60 crore).

As of September 30, 2025, the total utilized amount stands at ₹705.45 crore, with ₹1920.55 crore remaining unutilized. Significant utilization was observed in general corporate purposes (₹315.92 crore utilized), R&D (₹156.75 crore utilized), and capital expenditure for the factory (₹55.67 crore utilized). The repayment of borrowings has been fully completed.

Notably, the company received environmental clearance for its Factory 3.0 in September 2025, which was not originally required at the time of the prospectus filing. This has resulted in a shift of the expected production commencement date for Factory 3.0 from July 2026 to October 2026. However, the overall project completion timeline remains intact at March 2027. Factory 3.0 construction commenced in September 2025.

The unutilized proceeds, amounting to approximately ₹1924.06 crore, have been invested in fixed deposits with Axis Bank and Kotak Bank, earning an average interest of around 6-7%. The monitoring agency confirmed that the utilization of funds is in line with the disclosures made in the offer document, and no material deviations were observed.

This report ensures transparency in the deployment of IPO funds and monitors progress against the stated objectives, providing assurance to investors about the company's financial management post-IPO.

Ather Energy Limited has announced the appointment of Mr. Vivek Anand as an Additional Director (Non-Executive) to its Board of Directors, effective November 10, 2025. This appointment, approved by the Board following a recommendation from the Nomination and Remuneration Committee, strengthens the company's leadership with significant financial expertise.

Mr. Anand, a Chartered Accountant, brings over three decades of diverse industry experience spanning FMCG, Telecom, Paints, Consumer Healthcare, and Real Estate. He joined Hero MotoCorp in March 2024 to spearhead the finance function. Previously, as Group Chief Financial Officer at DLF Ltd, he was credited with driving growth and profitability, steering the company to a significant market capitalization increase. He also played a key role in India's largest business divestment in the consumer sector at GSK Healthcare, involving the sale of heritage brands across multiple countries. His extensive acumen covers Finance, Treasury, Mergers & Acquisitions, Corporate Planning, Investor Relations, Tax Planning, Risk Management, and Information Technology, gained in both Indian and international markets.

The company confirmed that Mr. Vivek Anand is not related to any existing Director of Ather Energy and is not debarred from holding the office of Director by any regulatory authority. His tenure as an Additional Director is subject to retirement by rotation and the approval of the company's shareholders. This announcement is a corporate governance update and does not include details on recent financial performance, future guidance, or specific operational events.

• News Crux: Ather Energy presented its financial and operational performance for the quarter and half-year ended September 30, 2025 (Q2 FY26), highlighting substantial YoY growth in sales, revenue, and significant improvements in margins, alongside strategic advancements in products and network expansion.
• Quarterly Results:
  • Units Sold: 66,000 units, a +67% YoY and +42% QoQ increase.
  • Total Income: ₹9,407 Mn, up +57% YoY and +40% QoQ.
  • Adjusted Gross Margin (₹): ₹2,106 Mn, up +84% YoY and +36% QoQ.
  • Adjusted Gross Margin (%): 22%, a +300 bps YoY improvement but -100 bps QoQ.
  • Adjusted Gross Margin without incentives (%): 21%, showing a strong +900 bps YoY improvement and +100 bps QoQ.
  • EBITDA: ₹(907) Mn, with the margin improving by 1100 bps YoY to -10% (also +600 bps QoQ).
• Guidance & Concall Commentary: The presentation implies a strategy focused on scaling operations, expanding market share, enhancing product offerings, and optimizing costs, as seen in the aggressive network expansion and new platform launches.
• Financials:
  • Income Statement: Strong revenue growth driven by unit sales, margin expansion (both gross and EBITDA) indicates cost efficiencies and better pricing power.
  • Balance Sheet/Cash Flow: Working capital days remained negative, indicating efficient working capital management. Detailed balance sheet and cash flow data were not provided in this excerpt.
  • Key Ratios: Adjusted Gross Margin 22%, EBITDA Margin -10%. ROE/ROCE not provided.
• Key Events:
  • Network Expansion: The network of Experience Centers (ECs) grew to 524 (+78 ECs added in Q2 FY26). The company plans to reach 700 ECs by the end of FY26.
  • Market Share Growth: Pan-India market share reached 17.4% in Q2 FY26, with significant gains in South India (25.0%), Middle India (14.6%), and Rest of India (10.0%).
  • Product Launches/Developments:
    • Launch of the EL Platform (EL 01 scooter), designed for versatility, safety, convenience, and cost optimization.
    • AtherStack 7.0 with features like Pothole Alerts, Crash Alerts, Voice commands, and ParkSafe Alerts.
    • New variants of 450 and Rizta with higher range.
    • Battery as a Service offering.
    • Next-gen fast charging experience with 4,322 charging points, offering a day's charge in 10 minutes.
• Outlook: The company is focused on continued expansion, technological advancements (EL Platform, AtherStack 7.0), and product diversification to capture a larger market share and drive future growth. The reduction in COGS per unit and margin improvements suggest a path towards profitability.

Ather Energy has announced its unaudited financial results for the quarter and half-year ended September 30, 2025 (Q2 FY26), highlighting a period of robust growth and improved operational efficiency. The company reported a total income of ₹940.7 crore for the quarter, marking a significant 57% year-on-year (YoY) and 40% quarter-on-quarter (QoQ) increase. This revenue growth was primarily driven by a substantial 67% YoY and 42% QoQ surge in vehicle volumes, reaching 65,595 units. Consequently, Ather's market share in the electric two-wheeler segment expanded to 17.4% in Q2 FY26, up from 12.1% in the prior year's quarter and 14.3% in Q1 FY26.

Profitability metrics also saw marked improvement. Adjusted Gross Margin increased to 22% (up ~300 bps YoY), supported by value engineering, product mix, and a growing contribution from non-vehicle revenues (12% of total income) like software subscriptions. EBITDA performance strengthened substantially, with margins improving by over 1,100 bps YoY and 600 bps QoQ to (10%). This led to a significant narrowing of EBITDA losses to ₹90.7 crore, a positive step on the company's path to profitability, with the loss after tax standing at ₹154.1 crore.

Growth drivers included an expanding geographical footprint, with strong performance noted in Middle India (14.6% market share), while maintaining leadership in the South (25% share). Operationally, Ather expanded its retail network by adding 78 new Experience Centres (ECs) in the quarter, bringing the total to 524, and increased its fast-charging network to 4,322 points. The company also rolled out AtherStack 7.0, featuring enhanced riding experience and connectivity, with strong adoption of its AtherStack Pro software. CEO Tarun Mehta expressed optimism, citing strong market momentum, progress on profitability, and effective strategic execution.

The company has not provided explicit forward-looking guidance or detailed financial statements beyond key performance indicators in this release. The focus remains on scaling operations, expanding market reach, and driving towards sustainable profitability, supported by its expanding ecosystem and product offerings.

Ather Energy Limited has announced its unaudited financial results for the quarter and half-year ended September 30, 2025 (Q2 FY26). The company reported a strong revenue performance, with revenue from operations reaching ₹8,989 million for the quarter, marking a significant 53.97% year-on-year (YoY) increase from ₹5,835 million in Q2 FY25. For the half-year ended September 30, 2025, revenue grew by 63.51% YoY to ₹15,435 million from ₹9,440 million in H1 FY25.

The company managed to reduce its losses, with loss before tax for Q2 FY26 decreasing by 21.86% YoY to ₹1,541 million from ₹1,972 million in Q2 FY25. Similarly, the loss before tax for H1 FY26 narrowed by 12.58% YoY to ₹3,323 million from ₹3,801 million in H1 FY25. Basic Earnings Per Share (EPS) stood at ₹(4) for Q2 FY26 and ₹(9) for H1 FY26, compared to ₹(8) and ₹(15) respectively in the prior year periods.

Financially, Ather Energy's balance sheet has been significantly bolstered following its Initial Public Offer (IPO) completed on May 6, 2025. Total assets more than doubled to ₹44,434 million as of September 30, 2025, from ₹21,006 million at March 31, 2025. Total equity surged to ₹27,212 million from ₹4,930 million, primarily due to IPO proceeds. The company has transitioned to a net cash positive position, holding ₹7,887 million in cash and cash equivalents and liquid mutual funds, with total borrowings reduced to ₹2,667 million. This resulted in a sharp decline in the debt-to-equity ratio to 0.10 from 0.91, and an improvement in the current ratio to 2.63 from 0.99.

Cash flow from operations for H1 FY26 turned positive at ₹770 million, a substantial improvement from ₹(4,452) million in H1 FY25. Despite capital expenditure of ₹2,181 million in H1 FY26, free cash flow improved to ₹(1,411) million from ₹(6,404) million in the prior year. Financing activities generated ₹23,117 million in H1 FY26, largely from IPO proceeds.

A notable risk identified is a supply chain disruption due to China's export ban on rare earth magnets, which has necessitated adjustments in traction motor manufacturing. This may affect the company's ability to claim demand incentives, leading to a deferral of revenue recognition amounting to ₹192 million for Q2/H1 FY26. No specific management guidance or concall details were provided in this filing.

Ather Energy announced its un-audited financial results for the quarter and half-year ended September 30, 2025, following its board meeting on November 10, 2025. The company reported a significant 54.05% year-over-year (YoY) increase in revenue from operations for Q3 FY26, reaching ₹8,989 million, compared to ₹5,835 million in Q3 FY25. Total income for the quarter also rose by 57.07% YoY to ₹9,407 million.

The company demonstrated improved profitability, with the net loss for Q3 FY26 narrowing to ₹1,541 million from ₹1,972 million in the same period last year, representing a YoY improvement of ₹431 million. This also marked a QoQ improvement, with the loss reducing from ₹1,782 million in Q2 FY26. Basic and Diluted Earnings Per Share (EPS) improved to ₹-4 from ₹-8 YoY and from ₹-5 QoQ.

For the half-year ended September 30, 2025 (H1 FY26), Ather Energy recorded a 63.51% YoY increase in revenue from operations to ₹15,435 million. The net loss for H1 FY26 was ₹3,323 million, an improvement from ₹3,801 million in H1 FY25. EPS for H1 FY26 stood at ₹-9, compared to ₹-15 in H1 FY25.

Financially, the company's balance sheet shows considerable strengthening post its Initial Public Offer (IPO), which was completed and listed on May 6, 2025. Total assets surged to ₹44,434 million as of September 30, 2025, more than doubling from ₹21,006 million at the end of the fiscal year March 31, 2025. Total equity increased significantly to ₹27,212 million from ₹4,930 million, primarily driven by IPO proceeds. Total borrowings reduced from ₹4,500 million to ₹2,667 million, leading to a substantial decrease in the Debt-to-Equity ratio from approximately 0.91 to 0.10.

The cash flow statement highlights a strong turnaround in operating cash flow, which improved from a negative ₹4,452 million in H1 FY25 to a positive ₹770 million in H1 FY26. Investing activities showed capital expenditure of ₹2,181 million for H1 FY26 on property, plant and equipment, and intangible assets. Financing activities reflected substantial inflows of ₹23,117 million in H1 FY26, largely attributable to IPO-related proceeds.

Key updates include the issuance of 7.86 million equity shares due to ESOP exercises. The company also noted a supply chain disruption originating from China's export ban on certain heavy rare earth magnets. This has impacted its motor suppliers and may affect the company's ability to claim demand incentives under the PM E-DRIVE scheme, with a deferral of revenue recognition amounting to ₹192 million for specific vehicles sold during the period.

NA

Ather Energy Limited has officially announced the schedule for its earnings conference call concerning the financial results of the second quarter of fiscal year 2026 (Q2 FY26). The conference call is slated to take place on Tuesday, November 11, 2025, commencing at 10:00 AM Indian Standard Time (IST). This announcement directly follows a prior notification from the company regarding a Board of Directors meeting scheduled for Monday, November 10, 2025, which is expected to approve the Q2 FY26 financial results. The earnings conference call serves as a crucial platform for analysts and investors to engage with Ather Energy's senior leadership. Speakers scheduled to address participants include Tarun Sanjay Mehta, the Executive Director & CEO, and Sohil Dilipkumar Parekh, the Chief Financial Officer. They will likely provide commentary on the company's performance, strategic initiatives, and outlook for the coming periods. Information for joining the call has been provided, including universal dial-in numbers and details for international participants across Hong Kong, Singapore, the UK, and the USA, as well as an option to pre-register for a seamless join experience. The company has cautioned that the schedule is subject to change due to business exigencies.

Ather Energy Limited has officially notified the National Stock Exchange of India Ltd (NSE) and BSE Limited that a meeting of its Board of Directors is scheduled for Monday, November 10, 2025. The primary objective of this board meeting is to review, consider, and approve the unaudited financial results of the company for the second quarter and the first half of the fiscal year ending September 30, 2025. This announcement serves as a precursor to the official earnings release, indicating the timeline for investors and market participants to receive detailed financial disclosures.

While the news itself does not contain any specific financial figures or performance metrics, its significance lies in setting the date for the disclosure of key financial data. Investors will keenly await the published results to assess Ather Energy's performance across critical parameters such as revenue growth (YoY and QoQ), profitability (EBITDA and PAT margins), earnings per share (EPS), and potentially any updates on operational KPIs like sales volumes or market share. The upcoming unaudited results will also provide insights into the company's financial health, including its balance sheet position and cash flow generation, in the context of its growth objectives. This board meeting announcement is a standard but vital communication that allows the market to prepare for the evaluation of the company's financial trajectory and operational efficiency for the specified reporting period.

Ather Energy Limited has formally announced the allotment of 3,13,693 equity shares, each with a face value of Rs. 1/-, to eligible employees who exercised their stock options under the Ather Energy ESOP 2025 Plan. This corporate action was approved via a circular resolution by the company's Board of Directors on October 24, 2025. Consequently, the paid-up share capital of Ather Energy Limited has seen an increase, moving from Rs. 38,03,24,241 (consisting of 38,03,24,241 equity shares) to Rs. 38,06,37,934 (consisting of 38,06,37,934 equity shares). The newly allotted shares will rank pari-passu with the existing equity shares of the company in all respects. This notification is a standard disclosure regarding employee stock option exercise and share issuance, without any accompanying financial results, performance updates, future guidance, or significant strategic developments.

This event is a routine issuance of equity related to employee benefits and does not represent a material financial event such as earnings, a new order, penalty, or expansion. As such, there is no specific data available regarding revenue, profitability, margins, EPS, guidance, outlook, balance sheet movements beyond share capital, cash flow, or key ratios. The news solely pertains to the administrative corporate action of allotting shares.

Ather Energy Limited has submitted an update to the National Stock Exchange of India Ltd (NSE) and BSE Limited regarding its 'Amended and Restated Ather Energy ESOP Plan 2025'. The disclosure, dated October 10, 2025, addresses an inadvertent numerical error found in the company's Postal Ballot Notice issued on July 17, 2025.

The primary correction pertains to the 'Total Options Granted' figure. Previously stated as 1,91,10,450, the accurate number, confirmed after the resolutions were duly approved by the company's members on August 17, 2025, is now stated as 1,92,43,821.

The company provided an updated table detailing the ESOP grants as of the notice date and on a cumulative basis. Key figures include:

• Options Pool Size: 1,82,56,428. This figure does not include 8,40,000 options proposed for approval. With their approval, the total Options Pool Size would read 2,66,56,428.
• Total Options Granted: 1,92,43,821 (Corrected figure).
• Options Lapsed/Expired: 27,70,627. The company noted that these lapsed/expired options are available for re-grant and have been utilized accordingly.
• Net Options Granted: 1,64,73,194 (Calculated as Total Granted minus Lapsed/Expired).
• Options Exercised: NIL.
• Options Outstanding (available for grant in the pool): 17,83,234 (Calculated as Pool Size minus Net Options Granted).

Ather Energy emphasized that this correction has no impact on the resolutions concerning the 'Amended and Restated Ather Energy ESOP Plan 2025' that were approved by its members. The update ensures the accuracy of public filings and compliance with stock exchange regulations.

Ather Energy Limited has officially submitted a Confirmation Certificate under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, for the financial quarter that concluded on September 30, 2025. This mandatory filing was made to both the National Stock Exchange of India Ltd. and BSE Limited. The certificate was issued by MUFG Intime India Private Limited, acting as the company's Registrar and Transfer Agent. The core confirmation from this report is that all securities pertaining to Ather Energy Limited are held in dematerialized form within the depositories. Consequently, during the specified quarter, there was no requirement for the company or its agent to process any physical share certificates for dematerialization, nor were there any related actions such as cancellation or substitution of registered owners. This update is a routine compliance exercise for listed entities and does not pertain to financial performance, operational outlook, or specific corporate events.

Ather Energy, India's leading electric two-wheeler manufacturer, announced a significant production milestone with the roll-out of its 500,000th electric scooter from its manufacturing plant in Hosur, Tamil Nadu. The milestone vehicle was Ather’s flagship family scooter, Rizta, which has become a core growth driver, accounting for over one-third of total production volumes since its launch last year. Co-founder and CTO Swapnil Jain stated that crossing 500,000 scooters reflects years of focused engineering, rigorous testing, and meticulous quality control within a scalable manufacturing ecosystem. Ather has also been expanding its market presence, particularly in Middle and North India, targeting tier 2 and 3 cities alongside metro markets. The company currently operates two Hosur facilities with a combined annual capacity of 420,000 scooters. To meet growing demand, Ather is establishing its third manufacturing facility, Factory 3.0, in Bidkin, Maharashtra. This new facility, to be built on Industry 4.0 principles, will be developed in two phases and is expected to increase Ather’s total installed capacity across all its facilities to 1.42 million electric two-wheelers annually once fully operational. The company also highlighted its extensive Ather Grid fast-charging network and its strong R&D portfolio, including numerous patents, trademarks, and registered designs.

Ather Energy Limited has formally notified the stock exchanges, specifically the National Stock Exchange of India Ltd (NSE) and BSE Limited, regarding the closure of its trading window. This decision is in strict adherence to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and the company's established Code of Conduct for Insiders. The trading window will be closed for all dealings in the securities of Ather Energy Limited, commencing on October 01, 2025. The prohibition on trading will remain in effect until a period of 48 hours has elapsed from the official announcement of the company's unaudited financial results for the quarter and half-year ended September 30, 2025. This measure is designed to prevent any potential misuse of unpublished price-sensitive information. Consequently, all individuals classified as Designated Persons, including their immediate relatives, and other Insiders of Ather Energy, are strictly advised against engaging in any transactions involving the company's equity shares during the stipulated trading window closure period. This is a routine compliance activity undertaken by publicly listed companies prior to the declaration of financial results.

Ather Energy has announced its decision to temporarily defer claims for demand incentives under the PM E-DRIVE scheme, amounting to ₹262.50 million. This deferral impacts a maximum of 52,500 vehicles. The primary reason cited is a global supply chain disruption caused by China's export ban on certain categories of heavy rare earth magnets, which has necessitated temporary adjustments in manufacturing processes concerning domestic magnet fitment for traction motors. Consequently, Ather may face challenges in adhering strictly to the Phased Manufacturing Program (PMP) guidelines for these specific vehicles.

The company is actively engaged in discussions with the Ministry of Heavy Industries (MHI) to seek a temporary exemption from domestic magnet fitment requirements under the PMP, highlighting that the situation was beyond their control. While awaiting definitive approval, the incentive claims for the affected vehicles are being deferred.

A significant counter-development is Ather's successful innovation in developing a Heavy Rare Earth Free (HREF) motor. The company has secured the CMVR Certificate from ARAI for this new motor and has commenced receiving PM E-DRIVE eligibility certificates for its HREF motor variants. This strategic move demonstrates Ather's commitment to 'Make in India' and its proactive approach to mitigating supply chain risks.

No specific quarterly or annual financial results, guidance, or detailed financial statement data were disclosed in this particular communication. The focus remains on the operational impact of supply chain issues and the company's efforts to maintain compliance and technological advancement. The outlook is contingent on the MHI's decision regarding the exemption request, balanced by the robust development of their alternative motor technology.

Ather Energy Limited has announced the grant of 2,94,991 stock options to its Key Managerial Personnels and Senior Management under the Ather Energy ESOP 2025. This corporate action, dated September 24, 2025, was approved by the Board of Directors, following a recommendation from the Nomination and Remuneration Committee. The ESOP plan is in compliance with SEBI regulations. Each option grants the holder the right to purchase one equity share of the company, with a face value of Rs. 1/-, at an exercise price of Rs. 1/- per option. The exercise period for vested options is set at five years from the date of vesting. This grant signifies an incentive for senior management and potentially leads to future equity dilution.

Ather Energy Limited has officially informed the National Stock Exchange of India Ltd and BSE Limited about the grant of stock options to its employees. The Nomination and Remuneration Committee (NRC) of the Board of Directors approved the grant of 9,79,433 stock options under the 'Ather Energy ESOP 2025' plan on September 23, 2025. These options are for eligible employees of the company. The ESOP plan covers a total of 9,79,433 equity shares, each with a face value of Rs. 1. The exercise price for each option is set at Rs. 1. The plan specifies that options may be exercised within a period of five years from the date of vesting. The Ather Energy ESOP 2025 is administered by the NRC and governed by the ESOP Plan approved by shareholders. Each vested option confers a right to apply for one equity share. This disclosure is made pursuant to SEBI Listing Regulations.

The 12th Annual General Meeting (AGM) of Ather Energy Limited, its first after the Initial Public Offering (IPO) on May 6, 2025, provided a comprehensive overview of the company's strategy, performance, and future outlook.

Performance & Results:
For FY25, Ather Energy reported a substantial volume growth of approximately 40-50%. Despite a reduction in subsidies, total income grew healthily. A major highlight was the improvement in Adjusted Gross Margins, which more than doubled from 9% to 19%, bringing them closer to traditional scooter industry levels. This margin expansion, along with value engineering, significantly boosted EBITDA from -36% to -23%. The positive trend continued into Q1 FY26, with volumes nearly doubling year-on-year and Gross Margins showing a 400 bps increase within the quarter. Notably, Adjusted Gross Margins without subsidies improved from -6% to 20% over the past few years, underscoring operational efficiency.

Outlook & Discussion:
Management outlined a clear strategy focused on profitability by improving unit economics through new technology, cost reductions (via EL platform), and continuous engineering investment. Key growth levers include:

1. Distribution Deepening: Aggressive expansion targeting 700 stores pan-India, building on success in South India and expanding into Middle India (Gujarat, Maharashtra, MP, Chhattisgarh, Odisha) and eventually North India.
2. Product Portfolio Expansion: Following the success of Ather Rizta, the company plans to introduce products based on the EL platform next year, designed for scalability and cost optimization. Development of the Zenith platform for electric motorcycles is also underway.
3. Operational Efficiencies: Enhancing manufacturing capabilities with a new greenfield facility in Chhatrapati Sambhajinagar, Maharashtra, expected to go live next year. The Hosur plant is nearing full utilization.
4. Brand Building: Continued investment in the Ather brand.

Financial Deep Dive:
The company highlighted substantial investment in R&D, amounting to ₹345 crore in FY25, with nearly half its workforce dedicated to product development. This focus has resulted in significant IP creation, with over 350 patents by the end of FY25 and 70 filed in Q1 FY26. Ather is also building a strong ecosystem around its products, with services and spares contributing approximately 12% of revenue, driven by accessories and the optional Atherstack ProPack software, which had an 88-89% attach rate in FY25 and Q1 FY26. The company expressed confidence in electric mobility over hydrogen for the two-wheeler segment.

Key Events & Comparative Lens:
The AGM was the first since the company's successful IPO. The launch of Ather Rizta in FY25 was pivotal, doubling volumes and market share in a short span and making Ather the market leader in South India. The company is also expanding internationally, with presence in Nepal and Sri Lanka. Challenges discussed include competition and the need for tactical responses to GST changes impacting ICE vehicles in the near term, though the long-term total cost of ownership (TCO) advantage for EVs is expected to remain strong. Supply chain risks, particularly for rare earths, are being mitigated by migrating to heavy rare-earth free magnets.

Outlook:
Ather Energy projects strong growth driven by distribution expansion, new product launches (EL platform and motorcycles), and manufacturing scale-up. The company aims to achieve significant market share gains across India and potentially expand its international presence.

Ather Energy Limited has formally notified the National Stock Exchange of India Ltd and BSE Limited about the schedule of an upcoming Investors/Analyst Meet. The event is slated for September 25, 2025, and will be conducted in a physical mode as a group meeting. The company's management team is set to participate in this engagement.

A key aspect of the disclosure is the explicit statement that discussions during the meet will be strictly based on publicly available information. Furthermore, Ather Energy Limited has emphasized that no Unpublished Price Sensitive Information (UPSI) is intended to be discussed. This ensures that the information shared with investors and analysts does not provide any unfair advantage or non-public insights.

The schedule is subject to change due to unforeseen circumstances involving investors, analysts, or the company itself. This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ather Energy Limited has informed the stock exchanges (NSE and BSE) about a corporate action involving the allotment of equity shares. On September 21, 2025, the company's Board of Directors passed a circular resolution to allot 13,51,410 equity shares, each with a face value of Rs. 1, to eligible employees who exercised their stock options under the Ather Energy ESOP 2025 Plan. This allotment increases the company's paid-up share capital. Previously, the paid-up share capital stood at Rs. 37,89,72,831, comprising 37,89,72,831 equity shares. Post-allotment, the share capital has increased to Rs. 38,03,24,241, with a total of 38,03,24,241 equity shares outstanding. The newly issued shares are stated to rank pari-passu with the existing equity shares in all respects. This intimation is in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This event is a standard procedural update concerning employee stock options and does not represent financial results, guidance, or major operational developments.

Ather Energy Limited disclosed a routine corporate governance update following its 12th Annual General Meeting (AGM) held on September 17, 2025. The shareholders approved the re-appointment of Mr. Pankaj Sood as a Non-executive Director. This disclosure was made in compliance with SEBI Listing Regulations, specifically Regulation 30.

Key Event:

• Event: Re-appointment of Mr. Pankaj Sood as Non-executive Director.
• Date: September 17, 2025.
• Context: Approved by shareholders at the 12th AGM.
• Status: Latest/Current event.

Mr. Pankaj Sood's Profile and Background:
Mr. Sood has been associated with Ather Energy since November 11, 2022. His professional background is extensive, spanning over 25 years in finance, advisory, and capital markets. He holds a Bachelor's degree in Chemical Engineering from IIT Kharagpur and a post-graduate diploma in Computer Aided Management from IIM Kolkata. Prior to his association with Ather Energy, he held positions at prominent financial institutions including Kotak Mahindra Capital Company Limited, Ernst & Young, and SBI Capital Markets. Currently, he is employed by GIC in the Global Leadership Group. The company confirmed that Mr. Sood is not related to any other Director of Ather Energy and is not disqualified from holding the office of Director by any regulatory authority. His re-appointment is effective from September 17, 2025, and his office will be liable to retire by rotation.

Financial Performance & Outlook:
This announcement pertains solely to a directorial change and does not contain any information regarding Ather Energy's quarterly or annual financial results, revenue, profit, margins, EPS, or any analyst EPS comparisons. There is no mention of management guidance, future outlook, growth drivers, risks, or strategic shifts. Consequently, no financial deep dive into income statement, balance sheet, cash flow, or key ratios can be provided based on this news. Similarly, no information is available regarding order books, expansions, product launches, regulatory updates, or supply chain issues.

Impact:
The re-appointment of an experienced director is generally viewed positively for board stability and governance. However, without accompanying financial or operational updates, the immediate impact on Ather Energy's stock price or investment decisions is likely to be minimal for a retail investor. It reinforces continuity rather than signaling new strategic direction or performance changes.

Ather Energy Limited has formally disclosed the voting results from its 12th Annual General Meeting (AGM), held virtually on September 17, 2025. The meeting was conducted in compliance with circulars from the Ministry of Corporate Affairs (MCA) and SEBI, as well as the Companies Act, 2013.

All resolutions presented to the shareholders were passed with the requisite majority, indicating robust shareholder support. The first ordinary resolution approved the Audited Financial Statements for the fiscal year ended March 31, 2025, along with the Directors' and Auditors' reports. The voting results for this resolution showed 338,881,330 votes in favour out of 338,881,665 votes polled (89.4211% of outstanding shares), with only 335 votes against (0.0001% of votes polled).

The second ordinary resolution concerned the re-appointment of Mr. Pankaj Sood (DIN: 05185378), who retired by rotation. This resolution was also passed with overwhelming support, receiving 338,310,942 favourable votes out of 338,881,675 votes polled (99.8316% of votes polled).

The third ordinary resolution was for the appointment of Secretarial Auditors. This resolution too garnered near-unanimous approval, with 338,882,610 votes in favour out of 338,882,859 votes polled (99.9999% of votes polled).

The voting was conducted via e-voting and poll. The aggregated results across Promoters, Promoter Group, Public Institutions, and Public Non-Institutions demonstrate strong shareholder confidence and alignment with the company's proposed agenda. Detailed voting percentages are available on Ather Energy's investor relations website, reinforcing transparency and governance.

Ather Energy Limited conducted its 12th Annual General Meeting (AGM) on September 17, 2025, via Video Conferencing (VC). This marked the company's first AGM following its listing on May 06, 2025. The meeting was attended by Directors, Key Managerial Personnel, and statutory auditors, with 51 members present virtually. Key business items discussed and approved included the adoption of the Audited Financial Statements for the financial year ended March 31, 2025, along with the Board and Auditors' reports, which contained no adverse qualifications. Shareholders also approved the re-appointment of Mr. Pankaj Sood as a Director and the appointment of Secretarial Auditors for a five-year term. The Chairperson, Ms. Neelam Dhawan, highlighted the significant milestone of completing the Initial Public Offering (IPO). Mr. Tarun Sanjay Mehta, Executive Director & CEO, provided an update on business operations and financial performance. Shareholders engaged in a Q&A session, and e-voting facilities were available. The proceedings adhered to all regulatory compliances.

Ather Energy Limited has filed a disclosure with the National Stock Exchange of India Ltd and BSE Limited regarding a scheduled plant visit and management meet for a group of analysts. The event is slated for Monday, September 15, 2025, beginning at 09:00 AM IST. The planned itinerary includes a visit to the company's Hosur plant, which will be followed by a session at its Corporate Office in Bangalore. The company has informed the exchanges that the schedule is subject to change based on exigencies from either the analysts or the company. Crucially, Ather Energy has explicitly stated that no Unpublished Price Sensitive Information (UPSI) will be shared during this analyst engagement, indicating it is a routine operational and informational visit.

Ather Energy Limited has formally informed the National Stock Exchange of India Ltd and BSE Limited about its upcoming schedule of investor and analyst meetings. The company's management team is slated to meet with various institutional investors and analysts in Hong Kong on September 8, 2025. The meetings are scheduled to commence at 09:00 AM Hong Kong Time, which translates to 06:30 AM Indian Standard Time. Ather Energy has emphasized that all discussions during these meetings will be strictly based on information that is already publicly available. Crucially, the company has explicitly stated that no Unpublished Price Sensitive Information (UPSI) will be discussed. This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The schedule may be subject to change due to unforeseen circumstances.

The news is an intimation filed by Ather Energy Limited with the National Stock Exchange of India Ltd (NSE) and BSE Limited, dated August 30, 2025. The company has completed the dispatch of physical letters to all its members whose email addresses were not registered with the company, depositories, or its registrar, MUFG Intime India Private Limited (formerly Link Intime India Private Limited), as of the cut-off date of Friday, August 22, 2025. This administrative step is being taken in compliance with Regulation 30 and specifically Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These regulations mandate the method of communicating AGM notices and Annual Reports to shareholders. The dispatched letters inform members about the 12th Annual General Meeting (AGM) of the Company, which is scheduled to be held on Wednesday, September 17, 2025, at 11:00 A.M. (IST) through Video Conferencing (VC) or Other Audio Visual Means (OAVM). Crucially, the letters provide the specific web-link and exact path on Ather Energy's website where members can access the complete Annual Report for FY 2024-25 and the Notice of the 12th AGM. The company also requests members to update their email addresses at the earliest to ensure continued receipt of important information and to support its green initiative.

Ather Energy announced significant product and technology advancements at its Ather Community Day 2025, focusing on innovation and future growth. The company unveiled its highly anticipated all-new EL platform, a next-generation vehicle architecture designed for versatility, scalability, and cost optimization. This platform, built on extensive field data, enables faster assembly (15% quicker) and service (2X faster periodic services), and will be the basis for multiple future Ather scooter models across various segments. It incorporates advancements like the Advanced Electronic Braking System (AEBS) and an integrated Ather Charge Drive Controller.

Additionally, Ather introduced AtherStack 7.0, a major software upgrade featuring voice interaction powered by an LLM trained for Indian dialects, aiming to make technology more intuitive for riders. This upgrade includes AI-driven features, proactive alerts (Pothole Alerts, Crash Alerts), and enhanced security with ParkSafe and LockSafe, providing remote vehicle immobilization. AtherStack 7.0 will be available via OTA updates for compatible models.

The company also launched next-generation fast chargers (6 kW) that deliver double charging speed in select variants, offering up to 30 km of range in 10 minutes, with some featuring built-in tyre inflators. The 2025 Ather 450 Apex will receive Infinite CruiseTM, an advanced cruise control system tailored for Indian conditions with modes like CityCruise, Hill Control, and Crawl Control. Updates to the Rizta Z include full touchscreen functionality via OTA, a new Eco Mode, and a new Terracotta Red colour. A concept moto-scooter named Redux was also showcased, hinting at future performance and design directions. Management highlighted that the EL platform is foundational for the company's next phase of growth and will be supported by their new manufacturing facility.

Ather Energy Limited has officially announced the allotment of 65,13,163 equity shares, each with a face value of Rs. 1/-, to employees who exercised their stock options under the Ather Energy ESOP 2024 Plan. This decision was made via a circular resolution passed by the Board of Directors on August 29, 2025. Following this allotment, the company's total paid-up share capital has increased from ₹37,24,59,668 (representing 37,24,59,668 equity shares) to ₹37,89,72,831 (representing 37,89,72,831 equity shares). The newly allotted shares will have the same rights and privileges as the existing equity shares of the company. This corporate action is a standard procedure for ESOP exercises and has been disclosed to the National Stock Exchange (NSE) and BSE Limited as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ather Energy has announced the dispatch of its 12th Annual General Meeting (AGM) notice and the Annual Report for FY 2024-25. This announcement was published in Financial Express and Vishwavani (Kannada newspaper) on August 26, 2025. The dispatch includes the notice of the AGM, the Annual Report for FY 2024-25, and other requisite information such as e-voting details. This is a standard corporate procedural announcement.

Quarterly/Annual Results: No specific financial results for Ather Energy are detailed in this announcement. The Annual Report for FY 2024-25 has been dispatched.

Guidance & Concall commentary: Not provided.

Financials:
• Solar Project: A company has secured an order worth Rs. 50 crore for solar projects. The text implies a transfer of 7 lakh shares related to this order, but specific details about the client, project nature, or location are not provided.
• Gokuldas Exports: Announced a dividend payout of Rs. 7 per share. Information about its past performance and current export turnover is also referenced.
• Eveready Industries: Mentioned in passing regarding its market position and product offerings.

Key events: Ather Energy's AGM notice and Annual Report dispatch. Rs. 50 crore solar project order. Gokuldas Exports dividend payout.

Outlook: Not provided.

Ather Energy Limited has formally informed the National Stock Exchange (NSE) and BSE Limited regarding the arrangements for its upcoming 12th Annual General Meeting (AGM). The company has published a public notification through newspaper advertisements in the Financial Express (English) and Vishwavani (Kannada). This announcement serves to inform all shareholders that the 12th AGM is scheduled to be conducted entirely through Video Conferencing or Other Audio Visual Means. All requisite information pertinent to the meeting, including the date and mode of conduct, is being made available to shareholders. The company has also ensured this information is accessible on its official website under the investor relations section for broader reach and transparency. Annual General Meetings are crucial for shareholders to engage with the company's management and review its performance and future plans. This notice is a standard procedural step for corporate governance and shareholder communication.

Ather Energy Limited has announced the results of its postal ballot, with members approving two key resolutions. The first, an Ordinary Resolution, focused on the reclassification of authorised share capital by converting compulsorily convertible preference shares into equity shares and consequently altering the Memorandum of Association. This proposal received substantial backing, with 339,616,207 votes in favour out of a total of 339,619,953 votes polled (91.1830% of outstanding shares), reflecting a 99.9989% approval rate. The second resolution, a Special Resolution, pertained to the approval and ratification of the ‘Amended and Restated Ather Energy ESOP Plan 2025’. This plan was also overwhelmingly approved, garnering 297,660,021 votes in favour out of 339,623,175 votes polled (91.1839% of outstanding shares), with an approval rate of 87.6442%. Promoters and promoter groups declared no interest in either agenda item. The voting was conducted primarily through remote e-voting.

Ather Energy Limited has announced the results of its postal ballot process, confirming shareholder approval for two significant resolutions. The first, an ordinary resolution, pertains to the reclassification of authorised share capital by converting compulsorily convertible preference shares into equity shares and consequently altering the company's Memorandum of Association. This resolution was passed with 100% of the votes polled in favour through e-voting. The second resolution, a special resolution, sought approval and ratification of the ‘Amended and Restated Ather Energy ESOP Plan 2025’. This plan was approved by approximately 87.64% of the votes polled across all modes, with 12.36% voting against it. The company confirmed that promoters and promoter groups were not interested in the agenda items. The voting was conducted primarily via remote e-voting, with the Scrutinizer's Report submitted on August 18, 2025. The approval of the ESOP plan suggests a continued focus on employee retention and incentives, while the share capital reclassification indicates a step towards corporate restructuring.

Ather Energy has rolled out three significant initiatives aimed at accelerating electric vehicle (EV) adoption in India: Battery as a Service (BaaS), an expanded Assured Buyback program, and an Extended Comprehensive Warranty (ECW). These moves are designed to address primary consumer concerns including high upfront costs, uncertainty around resale value, and warranty fears.

The Battery as a Service (BaaS) model allows customers to purchase Ather scooters with the battery cost separated. This reduces the initial investment, with models like the Rizta starting at Rs 75,999 and the 450 Series at Rs 84,341 (ex-showroom Lucknow). Customers can opt for flexible monthly battery usage plans, as low as Re 1 per kilometer, with the battery cost amortized over 3-4 years. This effectively lowers the upfront cost by up to 30% and includes a year of complimentary fast charging.

Building on previous success, the Assured Buyback program is now extended to a wider customer base, guaranteeing up to 60% of the scooter's value after three years and 50% after four years, contingent on kilometers travelled. This offers greater resale value predictability.

The Extended Comprehensive Warranty (ECW) provides coverage for the battery and 11 other critical components, including the motor, motor controller, dashboard, and charger, for up to five years or 60,000 kilometers. This aims to provide customers with complete peace of mind regarding potential component replacement costs.

According to Ravneet S Phokela, Chief Business Officer at Ather Energy, these initiatives are crucial for unlocking the EV segment's growth potential by catering to diverse customer needs and mitigating key purchasing barriers. The company believes these offerings will make EVs a more accessible and worry-free choice for Indian families.