Ather Energy , a leading electric two-wheeler manufacturer in India, has announced the appointment of Mr. Vivek Anand as an Additional Director (Non-Executive Director) to its Board of Directors. The appointment, effective November 10, 2025, was approved by the company's Board based on the recommendation of the Nomination and Remuneration Committee.

Extensive Financial Expertise

Mr. Anand brings over three decades of diverse industry experience to Ather Energy. His career spans across various sectors including FMCG, Telecom, Paints, Consumer Healthcare, and Real Estate. He joined Hero MotoCorp in March 2024 to lead the finance function, bringing valuable experience from his previous roles at renowned companies such as Hindustan Unilever Limited, Unilever Singapore, Unilever Bangladesh, Telenor, GSK, and DLF.

Notable Achievements

In his previous role as Group Chief Financial Officer at DLF Ltd, Mr. Anand played a pivotal role in driving the company's growth and profitability. Under his financial leadership, DLF achieved an all-time high market capitalization of $27.00 billion, representing a 3.5x growth over four years.

Mr. Anand was also part of the lead team at GSK Healthcare during India's largest business divestment in the consumer sector, valued at $4.00 billion. This significant transaction involved the sale of heritage brands like Horlicks and Boost to Unilever, spanning operations in more than 20 countries.

Professional Qualifications and Expertise

As a Chartered Accountant, Mr. Anand possesses significant experience in both Indian and international markets. His areas of expertise include:

• Finance
• Treasury
• Mergers & Acquisitions
• Corporate Planning
• Investor Relations
• Tax Planning
• Risk Management
• Information Technology

Appointment Details

The Board has appointed Mr. Anand as an Additional Director (Non-Executive), and he will be liable to retire by rotation, subject to shareholder approval. It's worth noting that Mr. Anand is not related to any existing Director of Ather Energy and is not debarred from holding a directorship by any regulatory authority.

This strategic appointment comes at a time when Ather Energy is experiencing significant growth in the electric two-wheeler market. The company recently reported a strong Q2 FY26 performance, with a market share increase to 17.40% and improved financial metrics.

Ather Energy's decision to bring Mr. Vivek Anand on board aligns with its expansion plans and could potentially strengthen its financial strategy as it continues to scale operations in the competitive electric vehicle sector.

Ather Energy , a leading electric two-wheeler manufacturer in India, has reported robust financial results, demonstrating significant growth in market share, sales volume, and operational efficiency.

Key Financial Highlights

• Ather Energy achieved 67% year-over-year growth in unit sales, reaching 66,000 units.
• The company captured a 17.4% market share, up from 12.1% in the previous year.
• EBITDA margins improved by 1,100 basis points year-over-year through scale and cost optimization efforts.
• Total income surged to ₹940.70 crore, marking a 57% year-on-year increase and a 40% quarter-on-quarter growth.
• Adjusted Gross Margin improved to 22%, up by approximately 300 basis points year-on-year.
• Loss after tax stood at ₹154.10 crore for the quarter.

Market Performance

Ather Energy significantly strengthened its position in the Indian electric two-wheeler market:

• The company maintained its leadership in South India with a 25% market share.
• Middle India emerged as the fastest-growing region, with market share rising to 14.6% from 8.8% year-on-year.

Operational Expansion

The company continued its aggressive retail expansion strategy:

• Added 78 new Experience Centres during the quarter, bringing the total to 524 across India.
• Plans to expand its network to 700 touchpoints by FY26.
• Expanded presence in both established metro markets and emerging tier-2 and tier-3 cities.

Product and Technology Developments

Ather Energy introduced several enhancements to its product ecosystem:

• Rolled out AtherStack 7.0, introducing new software features to improve riding experience and connectivity.
• Expanded the Ather Grid network to 4,322 fast-charging points across India, Nepal, and Sri Lanka.

Management Commentary

Tarun Mehta, Executive Director & CEO of Ather Energy, stated, "Q2 has been a strong quarter, with steady growth in market share and continued progress on our path to profitability. We saw continued improvement in EBITDA margin with improving operating leverage. Our strategic focus on Middle India has delivered results, with several states scaling up rapidly."

Regulatory Note

The company disclosed that due to China's export ban on certain heavy rare earth magnets, there were temporary adjustments in the manufacturing process for traction motors. This may affect Ather's ability to submit demand incentive claims under the PM E-DRIVE scheme, leading to a deferral of revenue recognition to the extent of ₹19.20 crore for specific vehicles sold during the quarter.

Ather Energy's results demonstrate the company's strong execution in expanding its market presence while improving operational efficiency. The significant growth in market share across various regions, particularly in Middle India, highlights the increasing adoption of electric two-wheelers and Ather's competitive positioning in the market.