{"id":327870,"date":"2026-10-27T11:09:31","date_gmt":"2026-10-27T05:39:31","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=327870"},"modified":"2026-10-27T11:09:31","modified_gmt":"2026-10-27T05:39:31","slug":"ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/","title":{"rendered":"Ather Energy Shares Already Up 126% in 2026 and Jump 5% to Extend Post-Q2 Rally: Should You Buy the Famous EV Stock? Profit, Valuation and Levels"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Ather Energy shares extended their post-results rally on Tuesday, 27 Oct 2026, trading at Rs 1,691.80 at 10:57 AM, up 7.4% from Monday&#8217;s close of Rs 1,575 and about 3% below the 52-week high of Rs 1,744 (data provider). The electric two-wheeler maker reported a Rs 1.26 crore net profit for Q2 FY27 against a loss of Rs 154.07 crore a year earlier, on revenue from operations of Rs 1,464.24 crore, up 62.9%.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Ather Energy shares are rising because the company swung to a first quarterly profit, with revenue up 62.9%, adjusted gross margin at 24% and EBITDA positive for a second straight quarter. The profit of Rs 1.26 crore is thin, and my calculation from the filing shows an operating loss of about Rs 61 crore before other income of about Rs 62.7 crore, so the headline profit depends on that income. The stock has an RSI of 70.09, a price to book near 16.5 and negative return on equity, so valuation is demanding. This is educational and not a recommendation.<\/p>\n<\/p><\/div>\n<p>Ather Energy shares have gained about 23% since the 23 Oct close of Rs 1,380 and, as the headline notes, about 126% so far in 2026. The question for investors is whether the first profit is the start of durable earnings or a one-quarter milestone that the price has already absorbed. The Ather Energy share price is now about 3% below its 52-week high, and Ather Energy shares have drawn heavy volume.<\/p>\n<p>This article sets out the Q2 figures, a conflict between sources on EBITDA, the capacity plan, the valuation and the technical levels. It is educational and not advice.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Ather_Energy_Shares_Q2_FY27_Results_at_a_Glance\" title=\"Ather Energy Shares: Q2 FY27 Results at a Glance\">Ather Energy Shares: Q2 FY27 Results at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Reading_the_Profit_Carefully_Other_Income_and_Source_Conflicts\" title=\"Reading the Profit Carefully: Other Income and Source Conflicts\">Reading the Profit Carefully: Other Income and Source Conflicts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Capacity_Plan_and_Funding_Behind_Ather_Energy_Shares\" title=\"Capacity Plan and Funding Behind Ather Energy Shares\">Capacity Plan and Funding Behind Ather Energy Shares<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Valuation_of_Ather_Energy_Shares\" title=\"Valuation of Ather Energy Shares\">Valuation of Ather Energy Shares<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Technical_Levels_for_Ather_Energy_Shares\" title=\"Technical Levels for Ather Energy Shares\">Technical Levels for Ather Energy Shares<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Should_You_Buy_Ather_Energy_Shares_Questions_to_Ask_First\" title=\"Should You Buy Ather Energy Shares? Questions to Ask First\">Should You Buy Ather Energy Shares? Questions to Ask First<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Conclusion_Ather_Energy_Shares_Reward_Progress_but_Price_in_a_Lot\" title=\"Conclusion: Ather Energy Shares Reward Progress but Price in a Lot\">Conclusion: Ather Energy Shares Reward Progress but Price in a Lot<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Why_are_Ather_Energy_shares_rising_today\" title=\"Why are Ather Energy shares rising today?\">Why are Ather Energy shares rising today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Did_Ather_Energy_make_a_real_profit_in_Q2_FY27\" title=\"Did Ather Energy make a real profit in Q2 FY27?\">Did Ather Energy make a real profit in Q2 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#What_was_Ather_Energys_EBITDA_in_Q2_FY27\" title=\"What was Ather Energy&#8217;s EBITDA in Q2 FY27?\">What was Ather Energy&#8217;s EBITDA in Q2 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#How_many_vehicles_did_Ather_sell_in_Q2_FY27\" title=\"How many vehicles did Ather sell in Q2 FY27?\">How many vehicles did Ather sell in Q2 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#What_is_Athers_capacity_expansion_plan\" title=\"What is Ather&#8217;s capacity expansion plan?\">What is Ather&#8217;s capacity expansion plan?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Are_Ather_Energy_shares_overvalued\" title=\"Are Ather Energy shares overvalued?\">Are Ather Energy shares overvalued?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#What_are_the_technical_levels_for_Ather_Energy_shares\" title=\"What are the technical levels for Ather Energy shares?\">What are the technical levels for Ather Energy shares?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/ather-energy-shares-already-up-126-percent-in-2026-and-jump-5-percent-to-extend-post-q2-rally-should-you-buy-the-ev-stock-profit-valuation-and-levels\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Ather_Energy_Shares_Q2_FY27_Results_at_a_Glance\"><\/span><strong>Ather Energy Shares: Q2 FY27 Results at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Ather Energy shares: Q2 FY27 measure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q2 FY27<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Year earlier<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Change<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue from operations<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,464.24 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 898.88 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 62.9%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total income<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,526.95 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 940.67 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 62.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit or loss<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Profit of Rs 1.26 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Loss of Rs 154.07 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Swing to profit<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">EBITDA (as reported by AutoCar Pro and the data provider)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 74.2 crore, margin 4.9%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Loss of about Rs 90.8 crore, margin of minus 9.6%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Second positive quarter<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Adjusted gross margin<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">24%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 22.4% (my calculation)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 160 basis points<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Electric scooter sales<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">93,211 units<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 65,600 units (my calculation)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 42%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Non-vehicle revenue share<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">15%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">12%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 3 points<\/td>\n<\/tr>\n<\/table>\n<p>Ather Energy shares are also helped by the demand signals in the Ather Energy Q2 results: about 10 lakh customer enquiries, up 109%, and 1.80 lakh pre-orders, more than double the year before, with the Hosur plant running at 98% utilisation at peak. The company says that 94% of customers took the AtherStack Pro software package, which supports the shift toward non-vehicle revenue. For the first half of FY27, the net loss narrowed to Rs 49.83 crore from Rs 332.30 crore, and revenue rose to Rs 2,681.16 crore from Rs 1,543.46 crore.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Track Ather Energy shares and EV stocks on Univest<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Reading_the_Profit_Carefully_Other_Income_and_Source_Conflicts\"><\/span><strong>Reading the Profit Carefully: Other Income and Source Conflicts<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Ather Energy shares: line item (Rs crore)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Figure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Note<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue from operations<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1,464.24<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">As reported by AutoCar Pro<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total expenses<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1,525.69<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Materials 1,176.57, employee costs 120.69, other expenses 172.04, finance costs 26.04, depreciation 46.87<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Operating result before other income (my calculation)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Minus 61.45<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue from operations less total expenses<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Other income (my calculation)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 62.71<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total income 1,526.95 less revenue from operations 1,464.24<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net profit<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">1.26<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Almost entirely other income<\/td>\n<\/tr>\n<\/table>\n<p>This is the main caution for Ather Energy shares. The Ather Energy profit of Rs 1.26 crore on revenue of Rs 1,464.24 crore is a margin of about 0.09% (my calculation), and the quarter would have shown a loss without other income. The result is still a clear improvement from a loss of Rs 154.07 crore, but it is not yet a business that earns its profit from operations.<\/p>\n<p>Sources also differ. One report gives EBITDA of Rs 74.2 crore with a margin of 4.9%, which matches the data provider&#8217;s Rs 74.17 crore, while another lists EBITDA of Rs 11.42 crore with a margin of 0.80%. The vehicle sales growth is 42% in one report and 44% in the headline summary. I use the figures that match the data provider, and Ather Energy shares investors should confirm them in the company&#8217;s results release. Check the Ather Energy Q2 results release for the correct figure.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to set alerts on Ather Energy shares and follow the results calendar.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Capacity_Plan_and_Funding_Behind_Ather_Energy_Shares\"><\/span><strong>Capacity Plan and Funding Behind Ather Energy Shares<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Ather Energy shares: item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Detail<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Capex approved<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 122 crore across Hosur and the Chhatrapati Sambhajinagar plant<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Hosur capacity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">From 4.2 lakh to 4.95 lakh units a year by December 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Sambhajinagar (AURIC) plant<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Phased production from December 2026 at 5 lakh units a year, rising to 6.5 lakh units by Q2 FY28<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Total installed capacity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 11.4 lakh units a year after the expansions<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Funding reported<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">One report lists a Rs 1,300 crore qualified institutions placement and a Rs 200 crore preferential issue of 16.26 lakh shares at Rs 1,230; check the filings for dates and terms<\/td>\n<\/tr>\n<\/table>\n<p>The capacity plan matters for Ather Energy shares because the plant is nearly full while enquiries are growing. At 11.4 lakh units, the planned capacity is about 3.1 times the annualised rate of the quarter&#8217;s sales of 93,211 units (my calculation), so the company is building well ahead of current demand. That is a growth bet that needs the enquiries to turn into sales.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Valuation_of_Ather_Energy_Shares\"><\/span><strong>Valuation of Ather Energy Shares<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Ather Energy shares: measure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Reading (data provider)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Comment<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to book<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">15.34 (about 16.5 at Rs 1,691.80, my calculation)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Book value is Rs 102.62 per share<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Return on equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Minus 20.10%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Based on trailing losses<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Earnings per share (TTM)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Minus Rs 9.82<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">P\/E is not meaningful<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Debt to equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">0.26<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Low<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Industry P\/E<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">26.52<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">For comparison<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Market capitalisation<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 62,470 crore<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">At an earlier price<\/td>\n<\/tr>\n<\/table>\n<p>Ather Energy shares trade at a price to book of about 16.5 on trailing losses, so the price rests on future profit. The Ather Energy share price rests on future profit, and Ather Energy shares need growth to justify it. Investors are paying for market position, the software attach and a path to margin, not for current earnings. I did not find brokerage target prices after the Q2 results, so I do not quote any.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Technical_Levels_for_Ather_Energy_Shares\"><\/span><strong>Technical Levels for Ather Energy Shares<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Ather Energy shares: indicator<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Reading<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Meaning<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price at 10:57 AM<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,691.80<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Day high of Rs 1,696.60<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">14-day RSI<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">70.09<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">At the overbought threshold<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">20-day EMA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,479.74<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price is about 14% above it (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">SuperTrend (10, 3)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Buy; lower band Rs 1,415.63, upper band Rs 1,886.57<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Trend is up<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">52-week range<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 582.05 to Rs 1,744<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 3% below the high<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Recent closes<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,380 on 23 Oct; Rs 1,575 on 26 Oct<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up 14.1% in one session on Monday (my calculation)<\/td>\n<\/tr>\n<\/table>\n<p>Ather Energy shares have moved quickly, and the Ather Energy share price rose from Rs 1,380 to Rs 1,575 on Monday, with 91 lakh shares traded, and has extended the move today. An RSI of 70.09 does not mean the stock must fall, but it does mean the move is stretched against the 20-day average. The 52-week high of Rs 1,744 is the next reference level, and the lower SuperTrend band of Rs 1,415.63 is the trend support. These are not targets.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Should_You_Buy_Ather_Energy_Shares_Questions_to_Ask_First\"><\/span><strong>Should You Buy Ather Energy Shares? Questions to Ask First<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li><strong>Is the Ather Energy profit repeatable?<\/strong> The Q2 profit relied on other income, so check whether operating profit turns positive.<\/li>\n<li><strong>Can the volume growth continue?<\/strong> Sales rose 42% to 93,211 units, and enquiries rose 109%.<\/li>\n<li><strong>Will new capacity be used?<\/strong> Capacity is planned to reach 11.4 lakh units, which is far ahead of the current run rate.<\/li>\n<li><strong>Is the entry price for Ather Energy shares reasonable?<\/strong> A price to book near 16.5 leaves little room for a miss.<\/li>\n<li><strong>What is your holding period?<\/strong> A stock up 126% in a year can fall sharply in a short time.<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_Ather_Energy_Shares_Reward_Progress_but_Price_in_a_Lot\"><\/span><strong>Conclusion: Ather Energy Shares Reward Progress but Price in a Lot<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ather Energy shares have rallied on a first quarterly profit, 62.9% revenue growth and strong demand signals, but the Ather Energy profit came from other income and the stock trades at a high price to book with an RSI of 70.09. The business is moving the right way, and the price already reflects much of it. Check the Ather Energy Q2 results release, respect the valuation of Ather Energy shares and decide according to your own risk profile.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Why_are_Ather_Energy_shares_rising_today\"><\/span><strong>Why are Ather Energy shares rising today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ather Energy shares are extending a rally after the company reported a net profit of Rs 1.26 crore for Q2 FY27, against a loss of Rs 154.07 crore a year ago, with revenue from operations up 62.9% to Rs 1,464.24 crore. The stock was at Rs 1,691.80 at 10:57 AM, up 7.4% from Monday&#8217;s close. Prices change quickly.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Did_Ather_Energy_make_a_real_profit_in_Q2_FY27\"><\/span><strong>Did Ather Energy make a real profit in Q2 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It reported a net profit of Rs 1.26 crore, but my calculation shows an operating loss of about Rs 61.45 crore before other income of about Rs 62.71 crore. The profit therefore came from other income and not from operations. It is still a large improvement from the Rs 154.07 crore loss a year ago.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_was_Ather_Energys_EBITDA_in_Q2_FY27\"><\/span><strong>What was Ather Energy&#8217;s EBITDA in Q2 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Most sources, including the data provider, show EBITDA of about Rs 74.2 crore with a margin near 4.9%, a second positive quarter. One report lists Rs 11.42 crore and 0.80%, so sources conflict. Confirm the figure in the company&#8217;s results release.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_many_vehicles_did_Ather_sell_in_Q2_FY27\"><\/span><strong>How many vehicles did Ather sell in Q2 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ather reported electric scooter sales of 93,211 units, up 42% in one report and 44% in a headline summary. Customer enquiries were about 10 lakh, up 109%, and pre-orders were 1.80 lakh. The Hosur plant ran at 98% utilisation at peak.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Athers_capacity_expansion_plan\"><\/span><strong>What is Ather&#8217;s capacity expansion plan?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The company approved about Rs 122 crore of capex. Hosur is to rise from 4.2 lakh to 4.95 lakh units a year by December 2026, and the Sambhajinagar plant is to start at 5 lakh units from December 2026 and reach 6.5 lakh units by Q2 FY28. Total installed capacity would be about 11.4 lakh units.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Are_Ather_Energy_shares_overvalued\"><\/span><strong>Are Ather Energy shares overvalued?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> On the data provider&#8217;s numbers the price to book is 15.34, about 16.5 at today&#8217;s price, and return on equity is minus 20.10% on trailing losses. There is no meaningful P\/E because earnings are negative. The valuation assumes strong future growth.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_technical_levels_for_Ather_Energy_shares\"><\/span><strong>What are the technical levels for Ather Energy shares?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Daily readings show an RSI of 70.09, a 20-day average of Rs 1,479.74 and a SuperTrend buy signal with a lower band of Rs 1,415.63 and an upper band of Rs 1,886.57. The 52-week range is Rs 582.05 to Rs 1,744. These describe trend and are not targets.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Why are Ather Energy shares rising today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ather Energy shares are extending a rally after the company reported a net profit of Rs 1.26 crore for Q2 FY27, against a loss of Rs 154.07 crore a year ago, with revenue from operations up 62.9% to Rs 1,464.24 crore. The stock was at Rs 1,691.80 at 10:57 AM, up 7.4% from Monday's close. Prices change quickly.\"}},{\"@type\":\"Question\",\"name\":\"Did Ather Energy make a real profit in Q2 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It reported a net profit of Rs 1.26 crore, but my calculation shows an operating loss of about Rs 61.45 crore before other income of about Rs 62.71 crore. The profit therefore came from other income and not from operations. It is still a large improvement from the Rs 154.07 crore loss a year ago.\"}},{\"@type\":\"Question\",\"name\":\"What was Ather Energy's EBITDA in Q2 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Most sources, including the data provider, show EBITDA of about Rs 74.2 crore with a margin near 4.9%, a second positive quarter. One report lists Rs 11.42 crore and 0.80%, so sources conflict. Confirm the figure in the company's results release.\"}},{\"@type\":\"Question\",\"name\":\"How many vehicles did Ather sell in Q2 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ather reported electric scooter sales of 93,211 units, up 42% in one report and 44% in a headline summary. Customer enquiries were about 10 lakh, up 109%, and pre-orders were 1.80 lakh. The Hosur plant ran at 98% utilisation at peak.\"}},{\"@type\":\"Question\",\"name\":\"What is Ather's capacity expansion plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The company approved about Rs 122 crore of capex. Hosur is to rise from 4.2 lakh to 4.95 lakh units a year by December 2026, and the Sambhajinagar plant is to start at 5 lakh units from December 2026 and reach 6.5 lakh units by Q2 FY28. Total installed capacity would be about 11.4 lakh units.\"}},{\"@type\":\"Question\",\"name\":\"Are Ather Energy shares overvalued?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"On the data provider's numbers the price to book is 15.34, about 16.5 at today's price, and return on equity is minus 20.10% on trailing losses. There is no meaningful P\/E because earnings are negative. The valuation assumes strong future growth.\"}},{\"@type\":\"Question\",\"name\":\"What are the technical levels for Ather Energy shares?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Daily readings show an RSI of 70.09, a 20-day average of Rs 1,479.74 and a SuperTrend buy signal with a lower band of Rs 1,415.63 and an upper band of Rs 1,886.57. The 52-week range is Rs 582.05 to Rs 1,744. These describe trend and are not targets.\"}},{\"@type\":\"Question\",\"name\":\"Is this article investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ather Energy shares extend the post-Q2 rally on 27 Oct 2026 after a Rs 1.26 crore profit. See results, source conflicts, valuation and technical levels.<\/p>\n","protected":false},"author":28,"featured_media":327867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[16486,16485,16482,16481,11172,11171,16484,16483,7005,16487],"class_list":["post-327870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ather-energy-buy-or-sell","tag-ather-energy-capacity","tag-ather-energy-profit","tag-ather-energy-q2-results","tag-ather-energy-share-price","tag-ather-energy-shares","tag-ather-energy-valuation","tag-electric-scooter-stocks","tag-ev-stocks","tag-smallcap-ev-stock"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["327867"],"rank_math_title":["Ather Energy Shares Up 126% in 2026: Post-Q2 Rally, Valuation"],"rank_math_description":["Ather Energy shares extend the post-Q2 rally on 27 Oct 2026 after a Rs 1.26 crore profit. See results, source conflicts, valuation and technical levels. 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