Ather Energy

“Trial production is expected to start in the next few weeks. So very much on track for Q3 FY27. And we expect to finish our capex installation and hence, capacity installation by Q4 FY27.”

“But you're right, Hosur ramp-up should be pretty rapid.”

“It will take a couple of quarters for the installed capacity to be fully realized, but all of that is right now tracking very well and it's very much on track.”

“So early days, I do want to emphasize that, but very positive and strong signs across the board, which is why so much capacity expansion we are doing on the back of Konarc.”

“as the different versions of Konarc keep hitting the market, we believe our TAM will continue to expand.”

“Konarc itself is being released in a staggered manner with early releases focusing on Uttar Pradesh and Rajasthan, now expanding into Madhya Pradesh, Bihar, Maharashtra, Gujarat, Punjab and many other states. And over the coming months -- coming few months, with AURIC going live, we're also looking at bringing Konarc to the southern markets.”

“We haven't shared exact data, but early signs of AtherStack Pro attach rates of Konarc are as strong as Rizta.”

“So mid variants are launching first, then we will see entry variants and then we will see the high-end variants.”

“The bulk of this continues to be adding more than 50% continues to be AtherStack Pro with probably a reasonably equal split between accessories and servicing.”

“industry registrations hitting a growth of 82% year-on-year, netting out at about 6 lakh sales for the entire quarter.”

“Q2 was the first quarter when pan-India E2W penetration crossed 10%, netting out at about 11.2% for the full quarter.”

“we do believe that this is still supply constrained at an industry level, and the coming quarters should continue to remain fairly healthy for the entire industry.”

“Ather inquiries were up even more at about 109%, crossing 10 lakh inquiries for Q2 FY27. And preorders were up at about 108% year-on-year, hitting about 1.8 lakh preorders in Q2 FY27.”

“on current demand trajectory from the current stores, our team's internal estimate is that we have roughly about 20,000 units per month of unrealized retail that we are not tapping into yet.”

“Overall, commodities have been worse than we hoped. I do continue to believe that this is a temporary hit.”

“Commodity inflation has come much worse than we would have liked, at a 9.4% hit to gross margins overall.”

“Netting out Q2 FY27 AGM at 24%, which is a 1.6% improvement over Q1 FY27, I think roughly, yes.”

“Overall, H1 FY27 AGM is at 23%. And all of this has given us a phenomenal operating leverage with EBITDA showing a 1,450 bps improvement year-on-year, from minus 9.6% in Q2 FY26 to positive 4.9% in Q2 FY27.”

“That number for Q2 FY27 came in at INR164,000, so INR14,000 increase in average ex-showroom price.”

“Ather Node is getting industrialized right now and will commence operations -- commence deployment in the next few months as we are onboarding our first few set of partners.”

“are the first battery packs from Ather that come with 10 years or 1 lakh kilometer warranties with a 70% performance guarantee. These batteries have already gone live across the entire portfolio from 450, Rizta and Konarc.”

“So overall, Konarc focused a lot on the fundamentals with the target being how do we get more petrol scooter buyers to buy electric.”

“One of the more viral features from these launches was AutoPop, where you could just come tap the rear of the scooter, and the seat pops up, one that consumers are absolutely very excited for and it's going to get into production in the coming few months.”

“SR1 will go live a few months later. It will go live by Q4.”

“Copper has run really far ahead, particularly because of prebuying by U.S. and much higher AI demand.”

“Unfortunately, memories continue to be really, really complicated and expensive, and we don't see any near-term solution to that.”

“In the near term, PAT can go up and down, but definitely worth celebrating this milestone for the business this quarter.”

“Wholesale volume grew from 65,000 units same time last year to 93,000 units in Q2, 42% growth year-on-year.”

“And obviously, all of that's also translated into even stronger growth in year-on-year registrations, up from 57,000 units last -- same time last year to 92,500 units, almost 60% growth year-on-year.”

“And I would be remiss in not acknowledging the first time our business hit positive PAT, something definitely worth celebrating for us.”

“expect us to start focusing on network expansion in a big way from the coming -- actually from pretty much end of this quarter itself. So you will start seeing noticeable numbers from Q4 there.”

“There are hundreds of LOIs that we have held up for the last few months”