Ather Energy has seen its share price jump 130% year-to-date, driven by a shift to positive operating profit in Q1 FY27. Recent catalysts include a stake acquisition by BlackRock Global Funds and the launch of the mass-market Konarc e-scooter. Investors are now focused on how the company manages competition and scales production to maintain its growth trajectory.
Ather Energy has been one of the standout performers in the Indian electric vehicle market this year. As of September 1, 2026, the stock has recorded a 130% gain since the beginning of the year. This rally comes at a time when many global electric vehicle manufacturers have faced broader industry challenges. Since its stock market debut in May 2025, the company has seen its market value increase significantly, reflecting strong investor confidence in its business model.
The recent momentum has been supported by notable institutional activity. On August 31, 2026, BlackRock Global Funds acquired a 0.65% stake in Ather Energy through an open-market transaction. This follows the continued support from its strategic partner, Hero MotoCorp, which is increasing its stake in the company to approximately 32.8% on a fully diluted basis. This transaction is expected to be finalized by September 3, 2026, signaling sustained commitment from its largest backer.
From a financial perspective, the company has shown a meaningful turnaround. In the first quarter of fiscal year 2027 (Q1 FY27), Ather reported a positive consolidated EBITDA of ₹9 crore, a clear improvement from the EBITDA loss of ₹106 crore reported in the same quarter last year. EBITDA is a measure of a company’s operating profit before accounting for interest, taxes, and non-cash expenses. This shift suggests that the company is managing its costs more efficiently even as it scales operations.
On the product front, the company is attempting to capture a larger share of the mass-market segment. On August 29, 2026, it launched the 'Konarc' e-scooter, with prices starting at ₹99,999. By targeting a lower price point, Ather aims to attract a wider customer base, which is vital for its long-term growth strategy.
However, investors should consider the risks alongside the growth. The electric two-wheeler market in India remains highly competitive, with established rivals such as Ola Electric, TVS, and Bajaj continuing to fight for market share. Some analysts have also noted valuation risks, suggesting that the current stock price already factors in high growth expectations. The company's future profitability will largely depend on its ability to sell its new mass-market models in large volumes, which would allow it to reduce costs and maintain healthy profit margins. Moving forward, the most important updates for investors will be the market reception of the Konarc scooter and whether the company can sustain its positive operating profit in the coming quarters.