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Hero MotoCorp invests Rs 124 Cr in Ather Energy, now controls nearly 42% stake

EntrackrEntrackr ยท 1y ago
Hero MotoCorp invests Rs 124 Cr in Ather Energy, now controls nearly 42% stake
Medial

Hero MotoCorp has approved the purchase of an additional 2.2% stake in the electric scooter maker Ather Energy for about Rs 124 crore (approximately $15 million). This is the third investment from Hero MotoCorp in the Bengaluru-based company in the last nine months. In December, Hero MotoCorp acquired 3% stake in Ather Energy for Rs 140 crore ($16.8 milion). With the latest investment, Hero MotoCorp now controls nearly 42% holding in the Tarun Mehta-led company. The development comes shortly after Ather Energyโ€™s $34.5 million debt and equity fundraise in which co-founders Mehta and Swapnil Jain also pumped in over $10 million collectively. Ather was valued at $750 million during the Series E round in May 2022. However, it has not disclosed its valuation since then. As per startup data intelligence platform TheKredible, Sachin Bansal is the second largest investor after Hero MotoCorp in Ather. Other notable external stakeholders include Caladium Investment and Tiger Global. During FY23, Atherโ€™s revenue from operations spiked 4.36X to Rs 1,784 crore while its losses grew 2.5X to Rs 864.5 crore in the same period. The company is yet to file its financial results for FY24. Electric two-wheelers saw an uptick in sales in May after a 50% drop in overall sales in April. As per Vahan data, Ather Energy had a market share of 9.45% as it sold 6,024 units in the last month. Its competitor Ola Electric was at the top with the sale of 37,191 units followed by TVS and Bajaj with 11,737 units and 9,189 units, respectively.

Exclusive: Ather Energy raises $34.5 Mn; co-founders invest over $10 Mn

EntrackrEntrackr ยท 1y ago
Exclusive: Ather Energy raises $34.5 Mn; co-founders invest over $10 Mn
Medial

Electric scooter maker Ather Energy has raised Rs 286 crore or $34.5 million through debt and equity. This is the first round of investment for the Bengaluru-based company this year. Stride Ventures invested Rs 200 crore via debentures while co-founders of the company Tarun Sanjay Mehta and Swapnil Babanlal Jain pumped in Rs 43.28 crore each via Series F preference shares, its regulatory filings accessed from the Registrar of Companies show. Ather Energy raised its second-largest funding worth Rs 900 crore ($108 million) from existing investors Hero MotoCorp and GIC through right issue in December last year. In the same month, Hero MotoCorp also acquired an additional 3% stake in Ather for Rs 140 crore (approximately $16.8 million). Recently, a media report said that Ather is in talks to raise $95 million in a pre IPO round. Another report added that Atherโ€™s existing backer Sachin Bansal has sold a significant portion of his stake in the company to Zerodhaโ€™s co-founder Nikhil Kamath. As per TheKredible, Ather was valued at $750 million during the Series E round in May 2022. However, it has not disclosed its valuation since then. Itโ€™s likely to get unicorn status in the upcoming round. Ather has raised around $450 million to date. According to the startup data intelligence platform TheKredible, Hero MotoCorp is the largest external stakeholder followed by Sachin Bansal, Caladium Investment, and Tiger Global. Atherโ€™s revenue from operations surged 4.36X to Rs 1,784 crore in FY23 while its losses spiked 2.5X to Rs 864.5 crore in the same period. The company is yet to file its financial results for FY24. Electric two-wheelers saw a 50% drop in overall sales in April when compared to March. Ather Energy, which sold 17,000 units in March, saw 4,000 units sold in April. Ola Electric sold over 33,000 units, contributing about 50% to the overall sales in the last month.

After 4X growth in FY23, Ather Energyโ€™s revenue declines in FY24

EntrackrEntrackr ยท 1y ago
After 4X growth in FY23, Ather Energyโ€™s revenue declines in FY24
Medial

Following over four-fold growth during the financial year ending March 2023, electric scooter manufacturer Ather Energy saw a modest 1.5% decline in scale during the previous fiscal year (FY24). Atherโ€™s revenue from operations decreased to Rs 1,754 crore in FY24 from Rs 1,781 crore in FY23, as per disclosure made by its associate company Hero Moto Corp in NSE filings. The sale of scooters was the primary source of revenue for Ather while after-sale and subscription services were other income channels. The company has not revealed its cost breakup and losses for the fiscal year ending March 2024. The Tarun Mehta-led firmโ€™s revenue jumped by 4.36X while its losses grew 2.5X to Rs 864.5 crore in FY23. Hero Moto Corp is an associate company of Ather and now controls nearly 42% stake with its recent investment of Rs 124 crore ($15 million) which materialized early this week. Ather has raised over $550 million to date and was valued at $750 million during its Series E round. As per Vahan data, Ather was the fourth largest two wheeler EV manufacturer which controlled 9.45% market share in May. Ola Electric maintained the top position followed by TVS and Bajaj. Ather sold 6,024 units in the last month, up from 4,000 units in April. In March, its total sales stood at 17,000 units. Besides selling electric scooters, Ather is also expanding its rapid charging network across the country. As of December last year, it had 1,600 charging stations with a plan to increase it to 2,500 by March 2024.

Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%

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Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%
Medial

Electric two-wheeler maker Ather Energy has announced its financial results for the fourth quarter of FY25. The company reported a 29% year-on-year jump in its operating revenue compared to Q4 FY24. Atherโ€™s revenue from operations increased by 29% to Rs 676 crore in Q4 FY25, from Rs 523 crore in Q4 FY24, according to its consolidated quarterly report sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), Ather Energyโ€™s operating revenue increased 29% to Rs 2,255 crore in FY25 from Rs 1,754 crore in FY24. The companyโ€™s cost of materials, driven primarily by battery and component procurement, increased by nearly 16% to Rs 564 crore in Q4 FY25 from Rs 488 crore in the same period last year. Employee benefit expenses saw a decline of 29% YoY to Rs 109 crore in Q4 FY25 compared to Rs 154 crore in Q4 FY24. Depreciation and amortization costs rose 18% to Rs 45 crore, while other operational costs jumped nearly 47% to Rs 204 crore. Overall, Atherโ€™s total expenditure grew 13% to Rs 922 crore in Q4 FY25, up from Rs 819 crore in Q4 FY24. For the full financial year ending March 2025, total expenses rose to Rs 3,117 crore as against Rs 2,674 crore in FY24. As a result, the companyโ€™s net losses reduced by 17% to Rs 234 crore in Q4 FY25 from Rs 283 crore in Q4 FY24. On a fiscal basis, its net losses came down 23% to Rs 812 crore in FY25 from Rs 1,060 crore in FY24. Ather Energy made its stock market debut on May 6, 2025, listing at Rs 328 per share on the NSEโ€”2.18% above its issue price of Rs 321. However, the stock closed the day at Rs 300. On Monday, it rose 2.8% to trade at Rs 308.7 before market close, bringing its total market capitalization to Rs 11,497 crore ($1.34 billion). Ather's competitor Ola Electric, which saw a nearly 20% decline in operating revenue during Q3 FY25, has yet to file Q4 results.

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