Atul Auto Limited up by 10.30 percent: Market Update By Espresso


Espresso Shot of the Day - Atul Auto Ltd up by 10.30 percent

January 18, 2023
Espresso Shot of the Day - Atul Auto Ltd up by 10.30 percent

ATUL AUTO LTD   338.50 (+10.30%) BSE – INE951D01028 | 18th January 2023

Atul Auto Ltd is one of the key players in the Indian three-wheeler commercial vehicle space. Formed in 1986, the manufacturing of the Atul Auto Ltd vehicles began in 1992. The automaker has steadily expanded its portfolio in the passenger and cargo vehicle categories right from its customized ‘chakkada’ vehicles to Atul Shakti, Atul Smart, Atul Gem, and Atul Gemini. Atul Ltd is the fastest growing 3-Wheeler Company in India, with a presence across 21 states with 200 primary and 130 secondary networks. The company’s dealership, sales, service, and spare parts network comprises over 600 touch points across the globe. As opposed to Industry veterans, ATUL is one of the youngest & fastest growing companies in the sector. In last five years, the production turnover has grown by three folds. The company has achieved turnover of Rs. 617.51 crores in FY 2019-20.

Recent Drivers

  • Three-wheeler maker Atul Auto on January 11,2023 announced its foray into the electric vehicle space by launching two models at the Auto Expo 2023. Atul Greentech Pvt Ltd, a subsidiary of Atul auto launched Mobili, a passenger vehicle, and cargo variant Energie.
  • Veteran Investor Vijay Kedia who is the director of Atul ltd announced on January 16,2023 that due to the introduction of this unique technology, in its upcoming electric three-wheeler variants, they are going to establish their three-wheeler EVs as Indian Tesla in that category.
  • Atul Auto reported sales of 2,151 units, reporting a rise of 27.81% for the month of December 2022 as compared to 1,683 units sold in December 2021. The company’s total sales for April-December 2022 period stood at 18,065 units, thus reporting a 57.10% growth as compared to 11,499 units sold in the same period last year on January 2,2023.
  • On November 15,2022, the company reported a net sale of Rs 123.05 crores in September 2022, up 43.82% from the Rs. 85.56 crores reported in September 2021.
  • On October 10,2022 the board approved preferential allotment of 50.5 lakh fully convertible warrants aggregating ?9 crores to ace investor Vijay Kedia. Apart from Kedia, the company will issue 6,56,565 warrants (equal to 2.37% equity stake) to promoter Khushbu Auto Pvt Ltd and 1,001,010 to promoter Jayantibhai Chandra at ?198 each.
         (Souces: BSE, Money control, Mint, Economic Times)

Technical Force*

  • S&P BSE 500 month till date loss by 0.29%.
  • 3 months avg. NSE volume: 311,617
  • Quantity traded: 1,96,563| Deliverable quantity: 82,655 (42.05%)
  • Stock price jumped by more than 120 % from a one-year low level: 145.10 (June 21, 2022)
  • Daily RSI (14) is in overbought territory today.
  • 52-week-high: 341.80| 52-week-low: 145.10.

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Some Key Ratios (Source: BSE)

Market Cap:  742.78 Crores

PE:  -

OPM%: 4.47

ROE%:  -

Promoters holding%: 52.70

Prev. Close:  306.90

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.