Price
Financials
Standalone, Rs crore| Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 523 | 360 | 584 | 635 | 676 | 645 | 899 | 954 | 1,175 | 1,217 |
| Expenses | 762 | 489 | 723 | 776 | 848 | 779 | 1,031 | 1,026 | 1,244 | 1,250 |
| Operating Profit | -238 | -128 | -139 | -141 | -172 | -134 | -132 | -72 | -70 | -33 |
| OPM % | -46% | -36% | -24% | -22% | -25% | -21% | -15% | -8% | -6% | -2.7% |
| Other Income | 12 | 8 | 15 | 15 | 12 | 28 | 42 | 37 | 39 | 43 |
| Interest | 19 | 23 | 31 | 29 | 29 | 24 | 21 | 19 | 18 | 22 |
| Depreciation | 38 | 40 | 43 | 44 | 45 | 48 | 43 | 30 | 52 | 39 |
| Profit before tax | -283 | -183 | -197 | -198 | -234 | -178 | -154 | -85 | -100 | -51 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | -283 | -183 | -197 | -198 | -234 | -178 | -154 | -85 | -100 | -51 |
| EPS in Rs | -24,720.77 | -61.17 | -64.01 | -64.21 | -8.06 | -4.79 | -4.05 | -2.22 | -2.62 | -1.33 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 35 | 80 | 408 | 1,781 | 1,754 | 2,255 | 3,672 | 4,244 |
| Expenses | 220 | 257 | 668 | 2,488 | 2,438 | 2,836 | 4,080 | 4,551 |
| Operating Profit | -185 | -177 | -260 | -708 | -685 | -581 | -408 | -307 |
| OPM % | -523% | -222% | -64% | -40% | -39% | -26% | -11% | -7% |
| Other Income | 14 | 7 | 4 | 21 | -139 | 50 | 146 | 161 |
| Interest | 24 | 28 | 40 | 65 | 89 | 111 | 82 | 80 |
| Depreciation | 25 | 35 | 48 | 113 | 147 | 171 | 173 | 164 |
| Profit before tax | -220 | -233 | -344 | -864 | -1,060 | -812 | -517 | -390 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | |
| Net Profit | -220 | -233 | -344 | -864 | -1,060 | -812 | -517 | -390 |
| EPS in Rs | -20,118.94 | -21,344.92 | -30,078.67 | -75,436.30 | -92,469.46 | -27.95 | -13.51 | -10.22 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 115% | 27% | 67% | ||
| Compounded Profit Growth | % | % | 12% | 52% | ||
| Stock Price CAGR | % | % | % | 149% | ||
| Return on Equity | % | -102% | -84% | -33% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.02 | 0.02 | 0.02 | 0.02 | 0.00 | 29 | 38 |
| Reserves | 250 | 376 | 224 | 614 | 545 | 464 | 2,534 |
| Borrowings | 132 | 219 | 365 | 485 | 478 | 619 | 664 |
| Other Liabilities | 137 | 146 | 229 | 878 | 890 | 988 | 1,485 |
| Total Liabilities | 518 | 741 | 819 | 1,977 | 1,914 | 2,101 | 4,722 |
| Fixed Assets | 178 | 307 | 335 | 544 | 459 | 616 | 627 |
| CWIP | 104 | 47 | 93 | 37 | 71 | 122 | 340 |
| Investments | 39 | 92 | 37 | 286 | 292 | 41 | 552 |
| Other Assets | 198 | 295 | 354 | 1,109 | 1,092 | 1,322 | 3,202 |
| Total Assets | 518 | 741 | 819 | 1,977 | 1,914 | 2,101 | 4,722 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -182 | -140 | -226 | -871 | -268 | -721 | 32 |
| Cash from Investing Activity | -123 | -172 | 51 | -135 | 58 | -100 | -2,486 |
| Cash from Financing Activity | 313 | 296 | 228 | 1,317 | 633 | 703 | 2,497 |
| Net Cash Flow | 8 | -16 | 52 | 311 | 423 | -118 | 42 |
| Free Cash Flow | -298 | -227 | -297 | -1,001 | -383 | -1,060 | -474 |
| CFO/OP | 98% | 79% | 87% | 123% | 39% | 124% | -8% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 1 | 0 | 0 | 2 | 1 |
| Inventory Days | 79 | 226 | 57 | 59 | 26 | 48 | 35 |
| Days Payable | 47 | 269 | 113 | 88 | 90 | 109 | 105 |
| Cash Conversion Cycle | 32 | -43 | -56 | -29 | -64 | -60 | -68 |
| Working Capital Days | -225 | -425 | -203 | -36 | -122 | -69 | 60 |
| ROCE % | -42% | -51% | -95% | -75% | -66% | -20% |
| Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Jul 2026 | |
|---|---|---|---|---|---|---|
| Promoters | 42.09% | 41.22% | 40.86% | 40.76% | 40.72% | 39.58% |
| FIIs | 24.07% | 23.61% | 17.45% | 17.21% | 16.23% | 16.77% |
| DIIs | 24.01% | 23.60% | 28.10% | 28.97% | 29.28% | 29.82% |
| Public | 9.82% | 11.58% | 13.58% | 13.03% | 13.76% | 13.82% |
| No. of Shareholders | 1,41,409 | 1,41,467 | 1,73,478 | 1,69,887 | 2,29,896 | 2,54,569 |
Fundamentals
Market Cap₹ 55,802 Cr.
Current Price₹ 1,407
Book Value₹ 67.2
ROCE-19.8 %
ROE-33.4 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)67%
Compounded Profit Growth (TTM)52%
Standalone figures.
Valuation
Market capRs 55,766 Cr
Enterprise valueRs 56,075 Cr
Price to book90.87x
Price to sales13.14x
EV / sales13.21x
Earnings yield-0.70%
Profitability
Operating margin (excl. other income)-39.73%
Operating margin (incl. other income)-38.56%
EBITDA margin-3.45%
Pre-tax margin-9.19%
Net profit margin-9.19%
Net margin, latest quarter-4.18%
ROE-206.34%
ROCE-94.70%
ROA-61.85%
ROE, 3-year average-131.86%
ROCE, 3-year average-62.73%
ROA, 3-year average-47.67%
ROIC (approx.)-33.62%
Other income / net worth3.41%
Growth
Sales growth (latest year)335.96%
Sales CAGR, 3 years269.51%
Sales growth QoQ3.60%
Sales growth YoY (latest quarter)88.79%
Per share
EPS (TTM)Rs -9.83
EPS (latest year)Rs -75,462.64
EPS (latest quarter)Rs -1.28
EPS, 3-year averageRs -42,296.64
Book value per shareRs 15.47
Sales per shareRs 107.01
Cash flow per shareRs -21.97
Free cash flow per shareRs -11.95
Efficiency
Asset turnover0.90x
Fixed asset turnover3.27x
Inventory turnover6.31x
Inventory days58 days
Debtor days0 days
Debtors turnover1484.08x
Creditor days105 days
Cash conversion cycle-68 days
Working capital days60 days
Leverage
Total debtRs 485 Cr
Cash and bankRs 176 Cr
Net debtRs 309 Cr
Debt to equity0.79x
Interest coverage-3.89x
Current ratio (filing 2026-03-31)2.42x
Quick ratio (filing 2026-03-31)2.22x
Trade payables (filing 2026-03-31)Rs 830 Cr
Owners' fund to total sources31.05%
Debt to assets24.54%
Cash flow
Cash from Operating Activity (latest year)Rs -871 Cr
Cash from Investing Activity (latest year)Rs -135 Cr
Cash from Financing Activity (latest year)Rs 1,317 Cr
Net Cash Flow (latest year)Rs 311 Cr
Free cash flow (latest year)Rs -474 Cr
FCFE (approx.: FCF + change in debt)Rs -354 Cr
Statement figures
Net sales (TTM)Rs 4,244 Cr
Net sales (latest year)Rs 1,781 Cr
Sales (latest quarter)Rs 1,217 Cr
Operating profit excl. other income (latest year)Rs -708 Cr
Operating profit (latest quarter)Rs -33 Cr
Other income (TTM)Rs 161 Cr
EBITDA (TTM)Rs -146 Cr
PBDT (TTM)Rs -226 Cr
Profit before tax (TTM)Rs -390 Cr
Net profit (TTM)Rs -390 Cr
Net profit (latest year)Rs -864 Cr
Net profit (latest quarter)Rs -51 Cr
Depreciation (TTM)Rs 164 Cr
Depreciation (latest quarter)Rs 39 Cr
Interest (TTM)Rs 80 Cr
Cost of goods sold (latest year)Rs 1,623 Cr
Total expenditure (latest year)Rs 2,488 Cr
Total income (latest year)Rs 1,802 Cr
Share capitalRs 0 Cr
ReservesRs 614 Cr
Shareholders' fundsRs 614 Cr
Total assetsRs 1,977 Cr
Net blockRs 544 Cr
Capital work in progressRs 37 Cr
InvestmentsRs 286 Cr
ReceivablesRs 1 Cr
InventoryRs 257 Cr
Other liabilitiesRs 878 Cr
Shares outstanding (crore)39.66
Ownership
Promoter holding39.58% (-1.64 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | ATHERENERG | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -6.2% | -2.8% | -3.4 pts |
| 1 month | -18.5% | -6.8% | -11.7 pts |
| 3 months | +24.4% | -7.6% | +32.1 pts |
| 6 months | +86.5% | +0.4% | +86.1 pts |
| 1 year | +152.4% | -9.9% | +162.3 pts |
183 mutual fund schemes hold about ₹13,665 Cr.
Over three months 140 bought more and 26 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| SBI Small Cap Fund | 4.71% | 2,010 | -34% |
| Motilal Oswal Large & Midcap Fund | 3.56% | 718 | -15% |
| Motilal Oswal Flexi Cap Fund | 4.73% | 670 | -11% |
| Motilal Oswal Large & Midcap Fund | 3.56% | 657 | -15% |
| HSBC Midcap Fund | 3.57% | 614 | +66% |
| Aditya Birla SL Flexi Cap Fund | 2.07% | 601 | +5% |
| Axis Midcap Fund | 1.29% | 445 | +30% |
| HSBC Small Cap Fund | 2.16% | 413 | +13% |
| Axis ELSS-Tax Saver Fund | 1.20% | 393 | +53% |
| SBI Innovative Opportunities Fund | 5.16% | 268 | -6% |
| HDFC Flexi Cap Fund | 0.23% | 264 | +100% |
| Motilal Oswal ELSS Tax Saver Fund | 5.02% | 258 | -14% |
| Invesco India Focused Fund | 3.80% | 245 | -28% |
| Axis Multicap Fund | 2.14% | 235 | +25% |
| Edelweiss Mid Cap Fund | 1.17% | 233 | +39% |
| Helios Flexi Cap Fund | 2.66% | 232 | +28% |
| Bajaj Finserv Flexi Cap Fund | 2.77% | 226 | +4% |
| Axis Large & Mid Cap Fund | 1.17% | 202 | +15% |
| SBI Automotive Opportunities Fund | 3.46% | 199 | -12% |
| Axis Large & Mid Cap Fund | 1.17% | 196 | +15% |
| HSBC Large & Mid Cap Fund | 3.19% | 189 | +9% |
| Aditya Birla SL Multi-Cap Fund | 2.12% | 159 | +39% |
| Edelweiss Large & Mid Cap Fund | 2.80% | 139 | +15% |
| Edelweiss Balanced Advantage Fund(Q | 1.01% | 136 | +17% |
| Aditya Birla SL Small Cap Fund | 2.15% | 134 | +77% |
Red flags
F-score 4 of 8| explain | Debt up, profit down Borrowings up 33% while net profit fell in 2026 |
| look | Repeated losses Net loss in each of the last two years |
| look | Auditor change Auditor change 2026-05-04: Ather Energy Limited has informed the Exchange regarding Change in Auditors of the company. |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹1,217 Cr +88.7% vs Jun 2025.
Net loss ₹51 Cr.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Bajaj Auto Ltd | 297,090 | 25.2 | 28.2 % |
| Eicher Motors Ltd | 197,079 | 33.9 | 30.5 % |
| TVS Motor Company Ltd | 194,363 | 56.2 | 17.4 % |
| Hero MotoCorp Ltd | 104,234 | 18.8 | 35.2 % |
| Ola Electric Mobility Ltd | 17,320 | -19.9 % | |
| Zelio E-Mobility Ltd | 2,234 | 80.1 | 38.3 % |
| Ebix Ltd | 365 | 5.95 % | |
| Wardwizard Innovations & Mobility Ltd | 165 | 162 | 7.04 % |
| Tunwal E-Motors Ltd | 149 | 11.7 | 13.3 % |
| Delta Autocorp Ltd | 54 | 8.84 | 11.4 % |
| Supertech EV Ltd | 48 | 12.1 | 14.4 % |
| Victory Electric Vehicles International Ltd | 33 | 15.3 | 10.5 % |
No bulk or block deals on record.
No corporate actions on record.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.49
Max pain (expiry 2026-10-27)1,480
Largest call open interest at1,500
Largest put open interest at1,400
Implied volatility, at the money38.3%
Underlying at snapshot1,406.10
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
| Trade date | Shares sold short |
|---|---|
| 2026-09-30 | 4,006 |
| 2026-09-29 | 100 |
| 2026-09-28 | 11 |
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Close to Close price movement greater than 100perc in previous 365 daysClose to Close price movement greater than 75perc in previous 6 monthsEPS in the scrip is zero (4 trailing quarters)High low price variation greater than 100perc in previous 6 months
Quick answers
What is the market cap of Ather Energy Ltd?
Ather Energy Ltd (ATHERENERG) has a market capitalisation of Rs 55,802 Cr. at the 2026-10-01 close.
What were Ather Energy Ltd's latest quarterly results?
In the Jun 2026 quarter, Ather Energy Ltd sales was Rs 1,217 Cr (+88.7% vs Jun 2025) with a net loss of Rs 51 Cr.
What is the 52-week high and low of Ather Energy Ltd?
The 52-week high is Rs 1,744.00 and the 52-week low is Rs 556.50.