BENGALURU, 11th November 2025: Ather Energy’s growth engine is now accelerating beyond its southern base. The electric two-wheeler manufacturer, which continues to dominate South India with a 25% market share, reported that Middle India, led by Gujarat, Madhya Pradesh, and Maharashtra, has become its fastest-growing region, with a 14.6% share in Q2 FY26, up sharply from 8.8% the previous year.
Ather achieved its highest quarterly revenue of ₹940.7 crore and an overall market share of 17.4%, driven by strong regional demand and increased retail penetration.
The regional surge powered Ather to its highest-ever quarterly revenue of ₹940.7 crore and an overall market share of 17.4%, reflecting broad-based demand and deeper retail penetration. Vehicle volumes rose 67% year-on-year to 65,595 units, while EBITDA margin improved by 1,100 bps to (10%), indicating operational leverage at scale.
“Our strategic focus on Middle India has delivered results, with several states scaling up rapidly,” said Tarun Mehta, Executive Director & CEO, Ather Energy. “The Rest of India has also grown strongly, making our expansion more broad-based. In the South, we continue to lead the market with denser retail presence across key cities.”
Ather’s total income rose 57% year-on-year and 40% sequentially, supported by expanding non-vehicle revenue streams such as software subscriptions, charging, and service, which now contribute 12% of total income. Adjusted gross margin improved to 22%, backed by a richer product mix and value engineering initiatives.
The company added 78 new Experience Centres during the quarter, taking its retail footprint to 524 outlets across India. It’s Ather Grid network expanded to 4,322 fast-charging points across India, Nepal, and Sri Lanka.
Ather’s push into Middle and Northern India, coupled with continued strength in the South, signals a maturing EV adoption curve that’s extending beyond early urban hubs into new geographies, a critical step as the company accelerates toward profitability.
