Atul Auto

NSE: ATULAUTO · Commercial Vehicles

52W Range₹380 ₹554

Snapshot

Unlock Atul Auto's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Atul Auto Limited is an Indian manufacturer specialising in three-wheeler automobiles, including passenger carriers, cargo vehicles, and e-rickshaws. The company operates a diverse product portfolio across diesel, petrol, CNG, LPG, and electric fuel platforms under various brand names.

Business Model

The company generates revenue through the manufacturing and sale of three-wheeler vehicles, spare parts, and accessories. It serves both domestic and international markets, distributing products through an extensive dealer network.

  • Incorporation Year:1986
  • Headquarters:Rajkot, India

Growth Outlook

Growth is expected to be driven by the expansion of the electric vehicle portfolio and continued penetration into emerging international markets across Africa and Latin America. The company is focusing on diversifying its fuel options to align with changing regulatory and consumer preferences.

Key Risks

  • Regulatory Risk. Changes in emission norms and government policies regarding electric vehicle subsidies could significantly impact production costs and demand.
  • Input Cost Volatility. Fluctuations in the prices of raw materials like steel and aluminium, as well as battery components, may compress operating margins.
  • Geopolitical Risk. The company's reliance on exports to diverse international markets exposes it to currency fluctuations and trade barriers in developing economies.
  • Competitive Intensity. The three-wheeler segment faces stiff competition from established players and new entrants focusing on low-cost electric mobility solutions.

Price

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Key Metrics

REVENUE

₹824 Cr

TTM · consolidated

+14.1%YoY

NET PROFIT

₹43 Cr

TTM · consolidated

+135.7%YoY

EPS

₹15.21

TTM · consolidated

+130.1%YoY

RETURN ON EQUITY

9.6%

TTM · consolidated

+5.3 ppYoY

RETURN ON CAPITAL EMPLOYED

12.4%

TTM · consolidated

+5.1 ppYoY

P/E

31.9x

Q4 FY26 · consolidated

31.9 vs 37.0x5Y avg

EV/EBITDA

17.0x

Q4 FY26 · consolidated

17.0 vs -11.6x5Y avg

EBITDA MARGIN

10.5%

TTM · consolidated

+2.9 ppYoY

NET PROFIT MARGIN

7.6%

Q4 FY26 · consolidated

+4.8 ppYoY

DEBT TO EQUITY

0.3x

Q4 FY26 · consolidated

+0.05xYoY

Peers · Commercial Vehicles

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Atul AutoATULAUTO
1,13631.9217.0214.1%10.5%9.6%12.4%+3.7%
Tata Motors Ltd.TMCV
1,53,2589.0%
Tata Motors Ltd.TATAMOTORS
1,13,1029.0%
Ashok Leyland Ltd.ASHOKLEY
98,00526.2013.1216.1%20.1%29.2%16.8%+24.3%
Sml Mahindra Ltd.SMLMAH
5,82637.1021.6318.3%10.1%38.3%42.9%

As of Q4 FY26

Financials