Balance sheet of Ather Energy is strong.
But short term working capital might become an issue for this company.

Yes, The net debt of Ather Energy is increasing.
Latest net debt of Ather Energy is -₹290.8 Crs as of Mar-25.
This is greater than Mar-24 when it was -₹580.6 Crs.

The profit is oscillating.
The profit of Ather Energy is -₹878.8 Crs for TTM, -₹812.3 Crs for Mar 2025 and -₹1,059.7 Crs for Mar 2024.

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Ather Energy latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

Companies resources are majorly tied in miscellaneous assets