Ather Energy has issued a postal ballot notice seeking shareholder approval for the appointment of Mr. Vivek Anand as a Non-Executive Non-Independent Director. The company announced that shareholders will vote on this resolution through remote e-voting, with the voting period scheduled from December 23, 2025, to January 21, 2026.

Postal Ballot Process Details

The postal ballot notice, issued on December 22, 2025, seeks approval for Mr. Vivek Anand's (DIN: 06891864) appointment as a Non-Executive Non-Independent Director of the company. The resolution will be conducted exclusively through remote e-voting, with no physical postal ballot forms being distributed.

Director Appointment Background

Mr. Vivek Anand was initially appointed as an Additional Director (Non-Executive Director) by the Board of Directors on November 10, 2025, based on the recommendation of the Nomination and Remuneration Committee. The current postal ballot seeks formal shareholder approval for his appointment, making him liable to retire by rotation.

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, and Information Technology.

Voting Process and Compliance

The company has engaged National Securities Depositories Limited (NSDL) to provide e-voting facilities to all members. Only shareholders whose names appear in the register of members as of the cut-off date (December 19, 2025) will be eligible to vote. The postal ballot notice has been sent electronically to members with registered email addresses and is also available on the company's website and stock exchange platforms.

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.