Ather Energy Limited announced its audited financial results for the quarter and year ended 31 March 2025.

Key Financial Highlights (Standalone):

• Revenue from operations for Q4 FY25 stood at ₹676.1 crore, up from ₹523.4 crore in Q4 FY24.
• Revenue from operations for the full year FY25 was ₹2,255 crore, compared to ₹1,753.8 crore in FY24.
• Loss for Q4 FY25 was ₹234.4 crore, improving from a loss of ₹283.3 crore in Q4 FY24.
• Loss for the full year FY25 was ₹812.3 crore, a significant improvement from a loss of ₹1,059.7 crore in FY24 (FY24 loss included exceptional items of ₹174.6 crore related to FAME II adjustments).
• Cash used in operating activities for FY25 was ₹720.7 crore.
• Net cash generated from financing activities for FY25 was ₹702.9 crore.

Other Key Updates:

• The company converted from a Private Limited Company to a Public Limited Company on 27 August 2024.
• Significant corporate actions were undertaken during the year including bonus equity share issues, sub-division of shares, and conversion of various series of Compulsorily Convertible Preference Shares (CCPS) into equity shares. Notably, Series F CCPS were converted into approximately 1.94 crore equity shares and Series G CCPS (which raised ₹600 crore) were converted into approximately 2.25 crore equity shares in Q4 FY25. Other outstanding CCPS were converted into approximately 21.8 crore equity shares.
• The company invested ₹95.5 crore in a 95-year lease for approximately 100 acres of land in Chhatrapati Sambhaji Nagar, Maharashtra, for setting up a new manufacturing project.
• Regarding the FAME II related matters, the company recorded an expense of ₹1,746 million (₹174.6 crore) in FY24 towards customer refunds for off-board chargers and adjustment for differential incentive. As at 31 March 2025, an outstanding liability of ₹10.5 crore for charger refunds remains.
• Subsequent to the year-end, the company completed its Initial Public Offer (IPO) of 9.29 crore equity shares at an issue price of ₹321 per share (with a ₹30 discount for employees), raising approximately ₹2,626 crore through the fresh issue and ₹354.8 crore through the offer for sale. The equity shares were listed on NSE and BSE on 6 May 2025.
• The Statutory Auditors, Deloitte Haskins & Sells, have issued an unmodified opinion on the financial results for the year ended 31 March 2025.