Slides
Page 1
Earnings Call 12 May 2025 STRICTL Y PRIVATE AND CONFIDENTIAL Q4FY25 & FY25
Page 2
Financial Highlights 155k 4,284 Mn 23,052 Mn 19% (23%) Units sold +42% YoY Total Income +29% YoY EBITDA % +1300 bps YoY improvement Adjusted Gross Margin1 +172% YoY Adjusted Gross Margin %2 +1000 bps YoY improvement 47. 4 k 6,878 Mn (23%) Units sold +35% growth Total Income +28% growth EBITDA % +1900 bps improvement Financial Year 2024 - 2025 Q4FY25 vs Q4FY24 2 12% Adjusted Gross Margin without subsidy %3 +1800 bps YoY improvement Note: 1. Adjusted Gross Margin (₹) is calculated as total income reduced by cost of materials consumed, purchase of stock-in-trade and change in inventories of finished goods, stock-in-trade and work-in- progress; 2. Adjusted Gross Margin (%) is calculated as adjusted gross margin (₹) divided by total income *100; 3. Adjusted Gross Margin less government subsidies under the FAME, EMPS and PM E-Drive scheme
Page 3
Operational Highlights of FY25 Rizta | Halo | Halo bit 351 Experience Centers Ather Gold Service CentersNew products launched and delivery commenced released +143 added in FY251 launched 3 Sri Lanka 3,611 Charging points +1,128 added in FY25 International Expansion to Note: 1. In India; 2. Fast charging grid and Ather Neighbourhood chargers. 1 2
Page 4
Ather delivered a strong growth in FY25 23,426 39,305 45,252 47, 41 1 FY24 109 155 Units sold, in ‘000s Ather volumes Ather’s quarterly volumes in FY25 FY25 42% Q1FY25 Q2FY25 Q3FY25 Q4FY25 4
Page 5
6 9 12 15 Q1 Q2 Q3 Q4 India1 7. 4 % 11.9% 11.9% 13.3% Ather established market leadership in the south 10 15 20 25 13.6% 19.5% 22.4% 21.7% South1 #1 in market share2 Q1 Q2 Q3 Q4 Note: 1. Market share based on Vahan portal data (excludes Telangana state registrations); 2. In Q4FY25 5
Page 6
Strong gross margin growth on the back of COGS reduction FY24 FY25 Adjusted gross margin % improvement 9% 19% Adjusted gross margin % (10%) (5%) 0% 5% 10% 15% 20% COGS3 per unit reduction 6 (6%) 12% Adjusted gross margin1 Adjusted gross margin without subsidy2 Note: Adjusted Gross Margin (₹) is calculated as total income reduced by cost of materials consumed, purchase of stock-in-trade and change in inventories of finished goods, stock-in-trade and work-in- progress; 1. Adjusted Gross Margin (%) is calculated as adjusted gross margin (₹) divided by total income *100; 2. Adjusted Gross Margin less government subsidies under the FAME, EMPS and PM E-Drive scheme 3. Sum of cost of materials consumed, purchase of stock-in-trade, change in inventories of finished goods, stock-in-trade and work-in-progress FY24 148,918 120,777 FY25 19% reduction COGS3 per unit, INR
Page 7
Atherstack continues to see high adoption E2W users who purchase Atherstack1 88% Revenue from Atherstack1 6% Rating on android app 4.4/5 7 Note: 1. In FY25
Page 8
Rapid distribution expansion with a focus on non-south markets Majority of stores in non-south region Capacity to add 2 stores per day 69% Growth in number of stores +10 +13 +34 +86 Addition of stores every quarter Q1FY25 Q2FY25 Q3FY25 Q4FY25 3511 8 Note: 1. In India
Page 9
Financial Performance - Overview Particulars FY24 Adjusted Gross Margin (%) 9% EBITDA Margin (%) (36%) Total income (INR mn) 17 ,891 Vehicle sales volume 109,577 FY25 35,244 155,394 5,354 19% 9% (23%) Q4 FY24 Q4 FY25 47, 41 1 6,878 18% (23%) 9 23,052 (42%)
Page 10
Key Performance Indicators Particulars Adjusted Gross Margin EBITDA Margin Revenue from operations Vehicle sold Unit YoY growth of Vehicles sold YoY growth of Revenue from operations EBITDA Revenue Mix Sale of vehicles Sale of non-vehicles Revenue per unit of Two-wheeler Vehicle Sold Profit / (Loss) for the year Profit / (Loss) for the year margin Working capital days E2W Market Share % % INR Mn Numbers % % INR Mn % % INR INR Mn % Days % 9% (36%) 17 ,538 109,577 19% (2%) (6,494) 90% 10% 143,333 (10,597) (59%) (46) 11.5% 19% (23%) 22,550 155,394 42% 29% (5,307) 88% 12% 128,295 (8,123) (35%) (58) 11.4% As at and for the year ended 31 Mar 2025 As at and for the year ended 31 Mar 2024 10