Atul Auto, a key player in India’s three-wheeler market, has seen its shares jump by 16% in July, continuing a strong upward trend for the second month in a row. The stock has gained 41% over the past two months and an impressive 318% over the last two years.
In July, the stock hit a new milestone by surpassing ₹800 for the first time, reaching an all-time high of ₹844 per share.
Atul Auto is the only company in the three-wheeler market that offers a full range of products across all fuel types, including diesel, petrol, CNG, LPG, and electric. It is one of the youngest and fastest-growing companies in this sector. Over the past five years, its production turnover has tripled, achieving a turnover of Rs. 467.06 crore in FY 2022–23.
The company has been heavily investing in research and development, with a focus on electric vehicles that provide the same comfort as other fuel types. They are also planning to launch more models and variants of three-wheelers with a 0.50-tonne capacity, supported by strong R&D efforts.
Atul Greentech Private Limited (AGPL), a subsidiary, entered the electric vehicle market in FY23 with two electric three-wheelers, Atul Mobili and Atul Energie. AGPL partnered with Honda Power Pack Energy India Pvt. Ltd. and Valeo to create prototype cargo and passenger three-wheelers with Honda’s Mobile Power Pack e: Swap and Valeo’s powertrain systems. These prototypes were showcased at the Auto Expo 2023 in New Delhi.
The new vehicles feature swappable batteries and Valeo’s integrated compact electric powertrain system, allowing fleet and individual customers to lower costs and reduce upfront expenses.
In terms of recent sales performance, Atul Auto sold 2,628 vehicles in July, a 107.42% increase from the 1,101 units sold in the same period last year. Year-to-date, the company has sold 6,651 units, representing a 116% growth compared to the 3,083 units sold during the same period last year.
Renowned investor Vijay Kedia, through Kedia Securities Private, held a 2.71% stake in Atul Auto at the end of the June quarter. Additionally, Kedia holds an 18.20% stake in his personal portfolio. Retail investors often follow Kedia’s investment decisions closely, seeing them as indicators of potential market opportunities. Trendlyne data shows Kedia’s investments in 12 stocks, with a total net worth exceeding ₹1,687 crore.
Atul Auto is Kedia’s top holding in terms of value, worth over ₹414 crore, followed by Tejas Networks, Vaibhav Global, and Neuland Laboratories.
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