Atul Auto Ltd (ATULAUTO)

Automobile and Auto Components · Automobile · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹476.55 ↑ 10.05% (1Y)

🎯 Key Takeaways

Atul Auto is in a clear phase of operational expansion and profitability acceleration, driven by strong volume growth in its core three-wheeler segment and strategic consolidation of manufacturing operations. Management is actively monetizing non-core assets and returning capital through dividends while maintaining a conservative balance sheet.
Revenue declined 9.2% QoQ to ₹218 in Q1FY27.
⚠️ Margin pressure in Q1 FY2026-27, with OPM declining to 5.6% from 9.4% in the prior quarter, may persist if cost optimization from facility closure is

Market Cap

₹1,322

P/E Ratio

28.0

P/B Ratio

2.74

ROE

10.2%

ROCE

11.8%

Debt/Equity

0.30

Div Yield

0.63%

Promoter

42.7%

✨ Ask AI About ATULAUTO 📊 Interactive Charts

📖 The Story

Atul Auto is in a clear phase of operational expansion and profitability acceleration, driven by strong volume growth in its core three-wheeler segment and strategic consolidation of manufacturing operations. Management is actively monetizing non-core assets and returning capital through dividends while maintaining a conservative balance sheet. The company is transitioning from volume-driven growth to a more profitable and structurally sustainable model, supported by consistent financial execution and shareholder-friendly policies.

📰 What's Happening

In Q1 FY2026-27, Atul Auto reported a 42.5% YoY surge in three-wheeler sales to 9,878 units, fueling 44.7% revenue growth to ₹206.93 crore and a 34.2% jump in PBT to ₹9.02 crore. Consolidated revenue rose 43% to ₹218.43 crore, with PAT surging 290% YoY to ₹8.04 crore, reflecting both volume expansion and margin improvement. The board approved the closure of the Shapar facility by December 1, 2026, to consolidate operations and generate recurring lease income, pending shareholder approval at the AGM. Additionally, the company announced a final dividend of ₹3 per share (60% yield) for FY2025-26, with the record date set for September 11, 2026, subject to AGM approval. The reappointment of Whole-time CFO Mahendra J. Patel until 2030 and approval of related-party transactions up to ₹120 crore further underscore governance continuity and strategic capital allocation.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	200	231	241	218
Operating Profit	14	24	23	12
OPM %	6.9%	10.2%	9.4%	5.6%
Net Profit	8	15	18	8
EPS	₹3.30	₹5.52	₹5.33	₹2.86

The company’s financial trajectory shows a sharp inflection point in profitability, with PAT growing 290% YoY despite a moderation in growth rates from the previous quarter. Revenue momentum remains robust, supported by 42.5% volume growth in three-wheelers, though operating margins have declined slightly from 10.2% in December 2025 to 5.6% in June 2026, likely due to scale-related cost dynamics or product mix. However, the closure of Shapar and consolidation into Rajkot is expected to improve cost efficiency and generate lease income, which management views as a long-term value driver. The shift from strong margin expansion in Q3 and Dec 2025 to a lower but stabilizing margin in Q1 suggests a transitional phase where short-term margin pressure is being accepted for structural simplification and future cash flow stability.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance on revenue or earnings growth in the latest filings, but the consistent emphasis on volume growth, operational consolidation, and capital efficiency signals confidence in sustained momentum. The reappointment of the CFO and approval of key strategic decisions at the upcoming AGM indicate alignment on execution. The record date for dividend eligibility and shareholder engagement via e-voting reflect a focus on inclusive governance. While no long-term targets were articulated, the actions suggest a focus on profitability sustainability, asset monetization, and returning surplus to shareholders without overleveraging.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	14	14	14	14
Reserves	412	427	439	470
Borrowings	125	110	145	144
Total Liabilities	680	680	735	769
Fixed Assets	246	243	239	237
Investments	14	0	24	57
Total Assets	680	680	735	769

The balance sheet shows a stable capital structure with equity remaining flat at ₹14 crore while reserves grew from ₹427 crore to ₹470 crore, indicating retained earnings are being capitalized. Borrowings increased slightly to ₹145 crore from ₹144 crore, remaining low relative to asset base, reflecting minimal reliance on debt. Total assets rose to ₹769 crore, up from ₹735 crore, driven by operational growth and investments likely tied to consolidation. The company is not over-leveraged and appears to be funding growth through internal accruals and modest debt, maintaining financial flexibility while building reserves.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025	Mar 2026
Operating	+25	+40
Investing	+9	-66
Financing	-37	+33
Net Cash Flow	-3	+7

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	42.7%	42.7%	42.7%	42.7%
FII	0.4%	0.4%	0.8%	0.5%
DII	0.1%	0.1%	0.1%	0.1%
Public	29.9%	29.9%	29.8%	30.3%
# Shareholders	63,289	61,382	59,046	59,890

Institutional interest is emerging, with FII holding rising from 0.38% in Q2FY26 to 0.84% in Q4FY26, suggesting growing confidence among foreign investors. DII holdings remain stable around 0.1%, while promoter ownership remains unchanged at 42.7%, indicating no dilution or stake reduction. The number of shareholders has slightly declined from 63,289 to 59,890, but this may reflect consolidation rather than exit. Overall, the shareholding pattern shows increasing institutional participation without significant promoter or public dilution, supporting a stable ownership base ahead of the dividend and AGM.

⚖️ Peer Comparison — Automobile

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
MARUTI	4.06 L Cr	28.3	17.6%	13.4%	0.00
M&M	4.03 L Cr	19.6	16.4%	21.7%	1.42
BAJAJ-AUTO	3.45 L Cr	29.4	27.5%	29.8%	0.57
EICHERMOT	2.18 L Cr	37.8	29.6%	23.0%	0.01
TVSMOTOR	2.00 L Cr	58.3	18.6%	37.5%	3.30
HYUNDAI	1.76 L Cr	35.6	31.9%	24.7%	0.05
TMCV	1.71 L Cr	40.8	38.2%	32.9%	0.38
TMPV	1.14 L Cr	—	-0.5%	70.9%	0.62
HEROMOTOCO	1.11 L Cr	20.4	33.1%	25.4%	0.02
ASHOKLEY	1.00 L Cr	28.8	13.0%	26.2%	4.47

🔗 Peer Stock Analyses

MARUTI M&M BAJAJ-AUTO EICHERMOT TVSMOTOR

⚠️ Risk Factors

1. Margin pressure in Q1 FY2026-27, with OPM declining to 5.6% from 9.4% in the prior quarter, may persist if cost optimization from facility closure is delayed or insufficient. 2. The success of the Shapar facility closure and lease execution depends on shareholder approval at the AGM; any delays or modifications could impact the intended cash flow benefits. 3. High dividend payout (60% yield) may constrain reinvestment capacity if profitability proves unsustainable or demand softens. 4. Growing shareholder engagement via e-voting introduces operational risk if KYC/PAN compliance issues prevent participation in critical decisions.

📋 Recent Filings

🧠 Analyst's Read

Atul Auto is transitioning into a more capital-efficient and structurally profitable phase, supported by strong volume growth, margin resilience in core segments, and strategic asset monetization. The key next steps — AGM approval of the lease and dividend, and execution of the Shapar closure — will determine whether the current momentum translates into sustainable cash flow growth. Investors should monitor the pace of margin recovery post-consolidation and the company’s ability to maintain profitability without overexpanding capacity.

Based on filing content and financial data. Not a recommendation.

Read the full analysis

Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.

2 free AI queries per day.

✨ Deep Dive with AI on ATULAUTO

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

📡 Get AI alerts when ATULAUTO files new disclosures

Track ATULAUTO filings, board meetings, and corporate actions. Free email alerts at 5 PM.

Track ATULAUTO — Free

Free account · 2 AI queries/day

About · Privacy Policy · Terms of Service · Pricing

Today's Announcements · Screener · Insights · AI Chat

Data provided by CMOTS Internet Technologies Pvt Ltd