Ather Energy shares jump 5%, extend rally to 20% in two days after Q2 results. Can the run continue?

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Ather Energy shares rally 20% in two sessions after Q2 results, raising hopes of further gains

Ather Energy shares rose to Rs 1,660 apiece on the NSE on Tuesday morning. The electric scooter maker reported its first quarterly net profit of Rs 1.26 crore in the September quarter of FY27, marking a sharp turnaround from a net loss of Rs 154 crore in the year-ago period. Revenue grew nearly 63% year-on-year (YoY) to Rs 1,464 crore, supporting the turnaround.

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) turned positive at Rs 11.3 crore, against an EBITDA loss of Rs 133 crore a year earlier. The EBITDA margin stood at 0.77%. “We are not out of the woods. There is a lot of work for us to deliver on. The focus is on the top line. Improving volume will itself take care of operating leverage, if all the capacity work we are putting in bears fruit over the next few months. In the near term it can go up and down, but it is definitely worth celebrating this milestone for the business,” Tarun Mehta, CEO, Ather Energy, said.

Also read | Ather Energy swings to first quarterly profit as revenue rises 63%

Nomura on Ather Energy share price

Nomura increased its target price for the shares of Ather Energy to Rs 2,070 apiece from Rs 1,926 apiece, while maintaining its ‘Buy’ rating. The latest target price implies more than 31% upside potential from the stock’s previous closing price of Rs 1,575 apiece.

The international brokerage reaffirmed Ather Energy as its top pick in the two wheeler space. It noted that the company’s industry-leading tech pack, improving reach, and product portfolio makes it best-positioned to benefit from the EV inflection and resulting increase in EV salience of OEMs.

Ather Energy share price

Ather Energy shares have jumped 13% in a week and 11% in a month. The stock has delivered multibagger returns of more than 124% in 2026 so far.

Overall, the shares of the company have jumped 126% in one year. The company currently has a market capitalisation of nearly Rs 65,790 crore.

Also read | Ather Energy shares skyrocket after EV maker swings to Rs 1.26 crore profit in Q2